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Financial System Security: Harshad Mehta and the Billion-Dollar Scam  
Product Ref: 10/467C Company: Grow More Research and Asset Management Company Limited

Product Type: Case Industry: Banks & Diversified Financials

Related Product(s): N/A
Authors: Preeti Goyal   Sanjay Dhamija   
Harshad Metha was the architects of India's largest ever financial services industry scam. He successfully exploited the deficiencies in the microstructure of the Indian financial system to siphon money from the banking system to the financial markets. With this money he manipulated the Indian capital markets causing a phenomenal increase in stock prices. When the scam was exposed, the capital markets crashed and thousands of investors lost their life savings; it also impacted several domestic and foreign banks operating in India.
Functional Area : Finance & Investments

Learning Objective: Students learn how to identify microstructure deficiencies in the financial services industry, evaluate how to overcome such deficiencies and propose steps so as to avoid market abuse in the future.
Length: 12 pages Country: India

Pub. Year: 2010 Level of Difficulty: 3
This product type is available in the following language(s):      English
Related Information: N/A
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Case (10/467C) HK$58 / US$7.5
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