1992-1993 harshad Mehta scam

 the "1992-1993 Indian stock market scam" orchestrated by Harshad Mehta, also known as the Harshad Mehta scam. Harshad Mehta was an Indian stockbroker and businessman who manipulated the stock market to his advantage. the "1992-1993 Indian stock market scam" orchestrated by Harshad Mehta, also known as the Harshad Mehta scam. Harshad Mehta was an Indian stockbroker and businessman who manipulated the stock market to his advantage.

During the scam, Mehta took advantage of loopholes in the banking system and used fraudulent techniques to artificially inflate the prices of certain stocks. He exploited the system of ready forward (RF) transactions, in which banks provided short-term loans against government securities. Mehta used these funds to drive up the prices of selected stocks, making huge profits in the process.

Mehta's activities came to light when journalist Sucheta Dalal, along with her colleague Debashis Basu, published a series of articles in The Times of India exposing the irregularities in the stock market. This led to an investigation by the Central Bureau of Investigation (CBI).

The scam had far-reaching consequences, leading to a significant stock market crash in 1992. The Indian government intervened and implemented various reforms to prevent such incidents in the future. Harshad Mehta was eventually arrested and faced legal proceedings. He was convicted in some cases but passed away in 2001 before all the legal processes concluded.

The Harshad Mehta scam remains one of the most infamous financial scams in Indian history, highlighting the need for transparency, accountability, and regulatory oversight in the financial markets.