The Scam 1992 came to light in April 1992, when a series of investigations and reports revealed the extent of Mehta’s manipulations. The Jain brothers, two stock market investors, filed a complaint with the Securities and Exchange Board of India (SEBI), alleging that Mehta was involved in a massive stock market scam.
Several banks, including the State Bank of India, the Bank of Baroda, and the Union Bank of India, played a crucial role in facilitating the scam. Mehta and his associates would use these banks to secure loans, often using fake collateral or misrepresenting the true value of the stocks. Scam 1992 - The Harshad Mehta Story -2020- S01 ...
The Scam 1992 had a lasting impact on the Indian stock market and the country’s financial landscape. It highlighted the need for stricter regulations, greater transparency, and more effective oversight. The Scam 1992 came to light in April