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The 1992 Indian stock market scam was a market manipulation carried out by Harshad Mehta with other bankers and politicians on the Bombay Stock Exchange.The scam caused significant disruption to the stock market of India, defrauding investors of over fifteen million million USD.
In financial regulation, a Suspicious Activity Report (SAR) or Suspicious Transaction Report (STR) is a report made by a financial institution about suspicious or potentially suspicious activity as required under laws designed to counter money laundering, financing of terrorism and other financial crimes.
Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) is a central online security interest registry of India.It was primarily created to check frauds in lending against equitable mortgages, in which people would take multiple loans on the same asset from different banks.
[98] Soon after the report's release, Adani Group companies experienced an acute decline in their share prices. [99] [100] [101] In a follow-up piece, The Guardian indicated that Hindenburg called on the Adani Group to sue if they believed the report was inaccurate. [102] [103] By the end of February 2023, the group lost $150 billion in value ...
This resulted in Parekh's first conviction, which carried a one-year sentence, coming as a result of a transaction he conducted involving a unit of Canara Bank in 1992. [ 17 ] Though Parekh was subsequently barred from stock trading, the Securities and Exchange Board of India alleged in 2009 that a variety of companies and other actors were ...
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 ...
Kotak Mutual Fund is an Indian mutual fund that is managed by Mahindra Asset Management Company (KMAMC). KMAMC started operations in December 1998 and as of 2018 [update] , had approximately 74 Lakh investors in various schemes. [ 6 ]
Agencies including the Economic Offence Wing-Mumbai and SFIO have found the top 5 brokers including Motilal Oswal guilty of misselling NSEL contracts, KYC manipulation, client code modification, illegal transactions & infusion of black money through their NBFCs on the Exchange platform. [20]