5 Steps To Here: The Harshad Mehta Legacy
Know all about the Harshad Mehta stock market scam in only 5 steps.
Harshad Mehta
The Rs 4,400-crore stock market scam comes to light. Harshad Mehta triggers a bull run with public money borrowed from banks.
April 1999
Mehta and his four associates face 35-odd court cases. He is charged with several criminal offences.
August 2001
Supreme Court orders liquidation of Mehta's assets to clear his income tax dues and repay SBI and other banks.
Mehta passes away on December 31. The I-T department receives Rs 1,227 crore and SBI gets Rs 600 crore by 2004.
March 2011
The I-T department receives another Rs 1,995.66 crore clearing its outstanding principal amount.
