India

⚡What Was The 1992 Harshad Mehta Scam? What Happened to Him After The Case Came to The Fore?

By Team Latestly

Till the early 90s, banks in India were barred from directly investing in equity markets. Mehta, a master in his game, used a loophole in the system to squeeze capital from the banking sector and use it for artificially spiking the rate of shares. In the process, he ended up exponentially growing his personal wealth.

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