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  1. www.pocketful.in › blog › scam-1992-harshad-mehtaHarshad Mehta's Scam 1992 | India's Biggest Stock Market ...

    Oct 8, 2024 · Overview of the Scam 1992. The Harshad Mehta scam refers to the 1992 Indian stock market scam, which featured a sequence of fraudulent trading on the Bombay Stock Exchange (BSE). The scam reportedly resulted in a loss of around ₹4,000 crores (approximately $1 billion) to banks and investors. Due to his charm and connections, Mehta has often ...

  2. www.cnbctv18.com › market › scam-1992-harshad-mehtaScam 1992 Explained: How Harshad Mehta, brokers and banks ...

    Mar 25, 2022 · In January 1992, RBI began inspecting the books of banks for irregularities in securities transactions. In April, the RBI found a shortfall of Rs 649 crore in SBI’s investment portfolio. The bank did not have the securities it had paid its broker Harshad Mehta for. Under pressure from SBI, Harshad paid up around Rs 620 crore between April 13 ...

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  4. economictimes.indiatimes.com › news › economyThe story of Harshad Mehta and five ways it changed Dalal Street

    • Securities scam. Mehta was often referred to as the 'Big Bull' of Dalal Street or the 'Amitabh Bachchan' of the Indian stock market. He manipulated stocks by illegally obtaining money from several banks using fake bank receipts.
    • Changing D-Street. Following the fraud of around Rs 4,000 crore, ‘Securities Scam’, the Securities Laws (Amendments) Act was passed in 1995, which widened the jurisdiction of the Securities and Exchange Board of India.
    • Settlement cycle. Settlement cycle is the time within which brokers have to pay full money and take delivery of stocks or deliver stocks if sold. In 1992 the cycle was 14 days.
    • Minimum balance. In 1992, there was no rule over maintenance of minimum balance that a customer needs to ensure to buy stocks. Now, a customer can’t buy stocks without the minimum balance in the account or sell without stocks in their Demat account.

  5. intellipaat.com › blog › harshad-mehta-1992-stock1992 Indian Stock Market Scam - The Complete Case Study

    Aug 17, 2024 · The 1992 Indian stock market scam is a dark chapter in India’s financial history, profoundly impacting investors and regulators alike. This scandal, which unfolded against the backdrop of economic liberalization, highlighted the dangers of unchecked greed and unethical practices in the stock market. By carefully studying the events, we aim to ...

  6. en.wikipedia.org › wiki › 1992_Indian_stock_market_scam1992 Indian stock market scam - Wikipedia

    The main perpetrator of the scam was a stock and money market broker Harshad Mehta. It was a systematic stock scam using fake bank receipts and stamp paper that caused the Indian stock market to crash. The scam exposed the inherent loopholes of the Indian financial systems and resulted in a completely reformed system of stock transactions ...

  7. www.moneycontrol.com › news › businessHarshad Mehta scam: 10 key points of the scam that jolted ...

    Oct 9, 2020 · Here are 10 key points about the Harshad Mehta scam of 1992: 1. Harshad Mehta, a registered and well-known broker, manipulated the Bombay Stock Exchange (BSE) along with his partners by taking ...

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  9. lawfullegal.in › harshad-mehta-scam-of-1992Harshad Mehta Scam Of 1992 » Lawful Legal

    Aug 27, 2024 · The Harshad Mehta scam of 1992 was a landmark event in Indian financial history, exposing critical weaknesses in the stock market and banking systems. The scandal’s exposure led to significant regulatory reforms and changes in financial practices, including the strengthening of oversight mechanisms and the establishment of the securities and Exchange Board of India (SEBI) as a robust ...