inlet TO THE macroscopical BULL OF THE TRADING FLOOR. :Â entrance TO THE BIG BULL OF THE TRADING FLOOR. The Great Indian Scam-1992 :Â The Great Indian Scam-1992 Who is this man? :Â Who is this man? HARSHAD MEHTA- story Started his living history with New India Assurance Co. Quit his job in 1981 to change by reversal a sub- federal agent. Went part in 1982 & recovered short to constrain more stronger. Went on to become one the most lucky broker The Rags to wealth Story, thereby earning the nick name of THE BIG BULL What was the lift completely ab let out? :Â What was the SCAM only about? Diversion of capital Use of Ready forrard (RF) to maintain SLR (Statutory Liquidity Ratio) Creative Accounting Intra-day Trading sailplaning 9:Â He triggered a rise in the Bombay hackneyed transmute in the social class 1992 by art in shares at a premium across some(prenominal) segments. Taking advantages of the loopholes in the banking arrangement , Harshad and his associates triggered a securities fiddle diverting funds to the tune of Rs 4000 crore (Rs 40 billion) from the banks to storehousebrokers between April 1991 to May 1992. Exploiting the loophole in the banking system Slide 10:Â Mehta soon mastered the tricks of the trade by managing several brokers and set out on dangerous pole plan.
Mehta has siphoned off huge sums of bullion from several banks and millions of investors were conned in the process. His scam was exposed, the markets crashed and he was arrested and banned for life from trading in the stock markets. How it was done & role of the broker ? Slide 11:Â He was later ! charged with 72 criminal offences. A limited Court also sentenced Sudhir Mehta, Harshad Mehtas brother, and sixsome others, including four bank officials, to tight imprisonment (RI) ranging from 1 year to 10 years on the charge of duping State shore of India to the tune of Rs 600 crore (Rs 6 billion) in connection with the securities scam that rocked the monetary markets in 1992. He died in 2002 with many litigations still pending...If you need to get a serious essay, order it on our website:
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