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Jun 22, 2023 · The Harshad Mehta scam, also known as the Securities Scam of 1992, was a major financial fraud in India’s stock market. Harshad Mehta, a stockbroker, used fraudulent methods to manipulate the stock prices of various companies and made a huge profit from the scam. The Indian government and regulatory authorities took various legal and ...
Jan 26, 2023 · 'Scam' is about the major scandals that shook India and are remembered as some of the most notorious crimes of the country. Set in 1980's and 90's Bombay, Sc...
Oct 21, 2020 · Harshad Mehta changed the way one looks at the stock market and how brokers trade. The securities scam of 1992, involving Mehta, led to sweeping stock market reforms and exposed loopholes in the country's banking system.
The Harshad Mehta Scam in India (1992) Harshad Mehta was the son of a peon. He was born in abject poverty and when he migrated to Mumbai, he had a mere Rs 40 i.e. less than $1 in his pocket. However, over the years Harshad Mehta rose meteorically to become one of the most influential and powerful brokers on the Bombay Stock Exchange.
The 1992 stock market scam is often referred to by the perpetrator’s name who brought about the downfall of the stock market: Harshad Shantilal Mehta. The scam featured an embezzlement of Rs 1439 crores ($3 billion) that led to a severe crunch and drastic loss of wealth in the life savings of many investors that amounted to Rs 3542 crores ($7 billion).
Oct 21, 2020 · Harshad Mehta changed the way one looks at the stock market and how brokers trade. The securities scam of 1992, involving Mehta, led to sweeping stock market reforms and exposed loopholes in the country's banking system.
Apr 24, 2018 · The Securities scam of 1991-92 refers to a diversion of bank funds worth Rs 3,500 crore by Harshad Mehta and other brokers into the stock market selectively, causing it to surge & eventually crash.
