Published Jun 27, 2021
2 mins read
428 words
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Societal Issues
Economics
Finance and Accounting

1992 Scam : The Harshad Mehta Scam

Published Jun 27, 2021
2 mins read
428 words

Hello, so today I  am going to tell you about the whole scandal which was proved by journalist Mrs Sucheta Dalal . She was a senior writer in Times of India . When the whole country was happy and everyone was looking forward yo invest in share market. She was the one who thought that our economy was not good at that times . Our foreign reserves were decreasing but the share market was on bull run . Everyone thought that harshad's  tip can never go into losses . She on the other hand was thinking that Harshad is just a broker so how he can manage to get the funds . So she kept on her research through her hidden sources and finally she knew that the money is that the common man deposits into the bank and then bank gives that money to harshad for 14 days on a written paper called BR . So he pumped the market with that money and used to earn profits from the rise of market . He was then so famous that when someone asks about the company , people used to say its harshad mehta's company . This thing kept on going and then Sensex for the first reaches all time high 5000 points . Harshad mehta was a hero for a middle class because he managed to give returns to the middle class of India when the middle class use to invest  a small amount of money in stock market . Then when the SEBI [ Securities and Exchange Board of India ] was not taken seriously by anyone . SEBI issued very important guidelines regarding books of account should be very clear and then Harshad mehta was at risk . A raid took place at harshad's house but he already knew that thing . He somehow managed to stay safe from the the income tax department . But the truth can't be hidden for a long time and then CBI came into the scene and arrested Harshad Mehta and he came back from the jail after sometime but till then his goodwill was  completely destroyed . He died in 2001 in jail due to heart attack . He was a passionate person and a very smart person with dreams of becoming the richest man of India . For a year he had become india's largest taxpayer of India even bigger than Dhirubhai Ambani. There are many things to learn from harshad mehta about his thinking which would also be something big. His passion about money and stock market . If you like the blog pls tell on which other topic you want blog . 

#stockmarket
##scam1992
#TheBigBull
#SUCHETA
#RISKHAITOUISHQ
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ayushi.prajapati 6/27/21, 5:47 AM
Nicely written do follow me back if you haven't yet and read+ like mine too let's support each other πŸ’•βœ¨
lokeshbhandari821 6/27/21, 6:47 AM
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nice aticle pls follow
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royanupam033 6/27/21, 6:53 AM
Very well written folow me for a definite folow back if you haven yet but most importantly view each other's blogs I am reading yours please read mine too
one_who_doesnt_exist 6/27/21, 7:14 AM
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Nicely articulated...read mine too.. let's support each other to grow..follow for follow back
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manisha_rajbhar 6/27/21, 8:39 AM
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I never knew that.
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