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The 1992 scam was a systematic fraud committed by Mehta in the Indian stock market which led to the complete collapse of security systems. He siphoned off over ₹1000 crore from the banking system to buy stocks on the Bombay Stock Exchange . [ 3 ]
An SBI is a state's equivalent to the Federal Bureau of Investigation, but can include investigative jurisdiction similar to other federal law enforcement agencies as well. The SBIs investigate all manner of cases assigned to them by their state's laws and usually report to their state's attorney general , or in some cases, directly to their ...
The SBI has original jurisdiction in cases involving drug investigations, lynching, arson investigations, election law violations, child sexual abuse in day care centers, theft and misuse of state property, and computer crime investigations that involve crimes against children. The SBI is also charged with investigating organized crime and vice ...
Harshad Shantilal Mehta (29 July 1954 – 31 December 2001) was an Indian stockbroker, businessman, and convicted fraudster. Mehta's involvement in the 1992 Indian securities scam (about ₹ 30,000 crore (equivalent to ₹ 2.3 trillion or US$28 billion in 2023)) led him to gain infamy for market manipulation.
On 22 April 1992, Sharad Bellary, an employee of State Bank of India comes to the Times of India office to report about a fraud worth ₹500 crores. He reports it to Sucheta (Shreya Dhanwanthary) and tells that Harshad Mehta (Pratik Gandhi) is behind the fraud. In the early years, Harshad lived in a middle-class family with his wife Jyoti ...
The Nagarwala case or Nagarwala scandal refers to an Indian fraud case where Rustom Sohrab Nagarwala allegedly imitated Prime Minister of India Indira Gandhi and convinced Ved Prakash Malhotra to withdraw ₹60 lakhs from the branch of the State Bank of India where he was the head cashier. However, there has been some controversy over the ...
The State Bank of India was involved in the scam and several allegations were made against Goiporia, who was the then chairman. [ 4 ] In Scam 1992: The Harshad Mehta Story , a documentary film chronicling the 1992 scam, the role of Goiporia was played by the Indian actor Vivek Vaswani .
This closed a case of bank fraud in which Chatwal had been embroiled for over a decade. Along with four others, Chatwal was charged with being part of a "criminal conspiracy" to defraud the Bank of India's New York branch of ₹ 28.32 crore (US$3.4 million). Four charges were filed by the CBI, with Chatwal named a defendant in two.