Harshad Mehta Scam India Compilation
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Title: Harshad Mehta Scam India Compilation

Essay Details:

Subject: Business
Author: Frances B
Date: June 22, 2013
Level: University
Grade: A
Length: 6 / 1618

Essay text:

In the first stage, it found that a set of brokers and sub brokers acting on behalf of a common set of clients who were acting as a front for Harshad Mehta cornered large chunk of shares of Videocon, BPL and Sterlite. This cornering led to price manipulation and the scrip prices rose substantially. Sebi suspended 17 brokers (10 of BSE and 7 of NSE) for periods ranging from one to three years. Several other brokers were given lesser punishment. In the second stage, it asked the then BSE president J C Parekh to relinquish office. The BSE vice president Rajendra Banthia resigned following investigations...

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