The Great Indian Scam
Story of the missing Rs 4,000 crore
In the first quarter of 1992, reality had overtaken fiction. Harshad Mehta, the Big Bull, dominated the nation’s headlines. He was widely hailed as the new folk hero, who had single-handedly lifted the stock market to unimaginable heights. And the entire nation was a willing participant in the gold rush. What fuelled the furious upward climb of the stock market were the bulls and bears locked in an epic battle for mastery. The galloping market came to an abrupt halt when a small news item first suggested that their war was waged with money diverted from the banks. At least Rs 4,000 crore had been swindled, i.e. $ 1.25 billion — a gigantic scam even by world standards.
How could such a massive scam take place? Who engineered it? Finally, here is an expert probe that pieces the jigsaw together:
The secret of Harshad Mehta’s spectacular rise; who was he, how did he operate?
How much of the truth have the multiple official investigations unearthed?
How much of the money can be recovered and how?
Why did the bulls and bears need such massive sums of money?
Why did the banks and PSUs lend so much money to the bulls and bears?
Who headed the bear cartel that locked horns with Harshad Mehta?
Written with the racy verve of a detective story, financial experts Barua and Varma have succeeded marvellously in blowing the lid off the complex transactions that cloaked the great Indian scam in an attempt to find out who stole Rs 4,000 crore, and how.
http://www.visionbooksindia.com/details.asp?isbn=8170941288
