-
My Account
Harshad Mehta Scam
The Harshad Mehta scam was a major financial scandal in India in 1992, involving the manipulation of the Bombay Stock Exchange (BSE) and the misuse of banking funds. Harshad Mehta, a stockbroker,
...Read moreHarshad Mehta Scam News
Harshad Mehta’s widow unveils website, looks to clear the air
A screaming headline greets visitors to the website harshadmehta.in, and what follows is a long, detailed defence of her husband by Jyoti Mehta.
Harshad Mehta Scam Videos
Harshad Mehta Scam Photos
FAQ
1. Who was Harshad Mehta?
He was a stockbroker and financier who manipulated the Bombay Stock Exchange using banking loopholes in 1992.
2. What did Harshad Mehta do?
He diverted funds from banks to inflate stock prices, causing artificial market growth and massive financial losses.
3. How much money was involved in the scam?
Over ?4,000 crore (approx. $530 million) was misappropriated from banks.
4. What were the consequences of the scam?
It led to legal action against Mehta and bank officials, regulatory reforms, and loss of public confidence in the stock market.
5. When did the scam come to light?
The irregularities were exposed in April 1992 by journalists and banking authorities.
