Some companies are reported to have defaulted on repaying investors on the maturity of the deposits. Companies do not renew the CFD on time. Some middlemen (brokers/sub-brokers) mislead investors in order to get higher commissions from the companies concerned. While Indian corporates raise money (equity and debt) and are regulated by SEBI, CFDs are kept outside the ambit of SEBI. The existing role/efficacy of the regulator – that is, the ministry of corporate affairs – leaves much to be desired as it is not oriented towards proactive consumer protection.