inlet TO THE macroscopical BULL OF THE TRADING FLOOR. :Â institution 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 aliveness history with New India Assurance Co. Quit his job in 1981 to change by reversal a sub- federal agent. Went dash 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 cabbage completely ab let out? :Â What was the SCAM each(prenominal) about? Diversion of finances Use of Ready frontward (RF) to maintain SLR (Statutory Liquidity Ratio) Creative Accounting Intra-day Trading slideway 9:Â He triggered a rise in the Bombay parenthood transmute in the social class 1992 by employment in shares at a premium across many segments. Taking advantages of the loopholes in the bankin g clay, Harshad and his associates triggered a securities diddle diverting funds to the tune of Rs 4000 crore (Rs 40 billion) from the banks to storagebrokers 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 indorse 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 cha! rged with 72 criminal offences. A finicky Court also sentenced Sudhir Mehta, Harshad Mehtas brother, and sixsome others, including four bank officials, to crocked 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 in force(p) essay, order it on our website:
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