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| Harshad Mehta Scam |
Harshad Mehta & Ketan Parekh Stock Market Scam came as a shocker for
many. It was basically a fraud done in the capital market with the
investors by manipulating the facts in order to attain enormous profits
There is no way that the investor community could forget the unfortunate
4000 crores Harshad Mehta scam and over 1000 crores Ketan Parekh scam
which eroded the shareholders wealth in form of big market. Harshad
Mehta went to become one of the successful brokers in India.
The scam involved huge diversion of funds and intra trading. He
triggered a rise in the Bombay stock exchange in the year 1992 by
trading in shares at a premium across many segments. Taking advantage of
the loopholes in the banking system, Harshad and his associates
triggered a securities scam diverting funds into 400 crores from the
banks to stockbrokers between 1991 to may 1992.
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