April, Scam, and the Big Bull: Have Regulators Learnt From Harshad Mehta's Case?
The Quint31 years later, a few bitter facts about scams and financial markets remain relevant. Second, regulators like the Securities Exchange Board of India, the Reserve Bank of India, and the Insurance Regulatory & Development Authority of India do play their role as watchdogs; but there is a big question mark over their effectiveness as regulators. Back to the Harshad Mehta scam, a series of cases were filed against him, and the Big Bull was arrested and thrown behind bars. Ironically, almost a decade after the scam broke, Harshad Mehta himself died of a heart attack in 2001, aged 47, in a jail cell in Thane near Mumbai. As part of the economic reforms launched by the PV Narasimha Rao government, the office of the Controller of Capital Issues, which regulated stock markets, was abolished.
History of this topic
India at 75: Epochal moments from the 1990s
The Hindu
1992: The Harshad Mehta scam
The Hindu
Harshad Mehta’s wife breaks silence, launches website to defend late Big Bull
Live Mint
Maharani, Aashram, The Big Bull: Scams unlimited continue trending on OTT
India TV News)
Did Reddit Do a Harshad Mehta? Indians Find 'Scam' Connection to GameStop Stock Surge
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