Harshad Mehta and Ketan Parekh Scam

 Harshad Mehta and Ketan Parekh Scam Essay

Harshad Mehta & Ketan Parekh Stock Market Con

These are two stock-market scams, like the same twins separated by 9 years. In 1992, it had been Harshad Mehta, and in 2001, Ketan Parekh. Mr. Harshad Mehta started his job as an employee of New India Assurance Company but later on quit the task to play the stock market. By 1991, Mr. Mehta had become the most recognizable and revered icon from the stock market. Regarded a financial genius by many, he was nicknamed the best Bull who also single-handedly made the decision the course the markets might ply. This individual played broker between banking companies in a all set forward offer, the seller bank of investments gave the purchaser bank of securities a bank invoice. Hashad was able to find two such banking companies and produced fake lender receipts Once he were able to produce artificial bank invoices, they were given to to the additional banks also the banks gave him money let's assume that they were lending against government securities, while the case was different here. He performed this on a long run and maintained a cash stability for him self, which this individual used in driving up the stock market prices. Whenever he necessary money to return back to the banks, this individual sold his shares. Mr. Mehta's land from sophistication was as fast as his out of this world rise. Research revealed that his " neverending resources” were actually siphoned off from the banking program. According to investigators, he previously devised a nifty way of using bank receipts to supply the stock exchange. He was caught and banned from the currency markets with detectives holding him responsible for causing a loss of more than Rs 4, 000Cr to various organizations. Harshad Mehta died in 2002, without paying back cash to the banking institutions which he owed.

Ketan Parekh is known as a charted curator and a down to earth gentleman with an extremely sharp mind. He arrived to prominence as two season, and has since built a solid reputation and significant wealth. He made pretty good estimations about how the stock market segments fluctuated. His killings in Zee Telefilms, Pentafour...

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