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Harshad Mehta Scam

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,
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FAQ

He was a stockbroker and financier who manipulated the Bombay Stock Exchange using banking loopholes in 1992.
He diverted funds from banks to inflate stock prices, causing artificial market growth and massive financial losses.
Over ?4,000 crore (approx. $530 million) was misappropriated from banks.
It led to legal action against Mehta and bank officials, regulatory reforms, and loss of public confidence in the stock market.
The irregularities were exposed in April 1992 by journalists and banking authorities.
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