Question

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Who is Harshad Mehta ? What is Story of "Scam 1992 "

Answer 1

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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.

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. He created a cycle of fraud involving big banks like the State Bank of India (SBI) and the National Housing Bank (NHB).

Answer 2

Explanation:

The 1992 scam was a systematic fraud committed by Mehta in the Indian stock market which made the entire securities system collapse. He committed a fraud of over 1 billion from the banking system to buy stocks on the Bombay Stock Exchange

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