Can anybody tell me, if it is possible to connect Laptop(using HDMI ports) to old CRT color TV and how?

Yes, what you need is a transcoder box, one that can convert HDMI to the best video connection your TV has: component > S-video > composite. Models also exist that can convert RGB (VGA) to any of those, and those would be more commonplace I'd say, so you'd be better off using VGA if you have a VGA output on your computer. Note that these scan converter boxes can only convert the signal one way, so make sure you get a HDMI to component/S-video/composite one. Buy the necessary cables (a HDMI and the appropriate one to go to your TV). Keep in mind that by "old" you probably mean analog standard-definition, resolution of 480i, so you will have rather limited resolution. If you have a HD-ready or HD CRT, then use component video and you may get slightly higher resolution, or if the TV has DVI or HDMI then plug directly into that and forego the transcoder box. And of course, if you have S-video output (or composite video output) on your laptop, then just use a S-video or composite video cable to connect. Remember, there are simple cables available that can easily convert S-video to composite video if need be.

The method would require using an expensive converter box.

You could get a converter box, But most new laptops have a video out port for connecting to a TV. It would probably look something like this: http://bit.ly/aAHd6S If your TV doesn't have an s-video port, you may need a cable like this: http://bit.ly/akhnnd Here's one of those converter boxes (if your laptop doesn't have a video out port): http://bit.ly/bJhkP5

you can get a HDMI > Scart converter. That would enable you to actually plug it in but there would be no guarantees, the graphics card video out has settings for "old CRT TVs" but there maybe flickering, it didn't work with my nvidia.