1,326
edits
robot: Creating/updating articles
No edit summary |
(robot: Creating/updating articles) |
||
| Line 1: | Line 1: | ||
{{Short description|Indian stockbroker and businessman | {{Short description|Indian stockbroker and businessman (1954–2001)}} | ||
{{EngvarB|date= | {{pp-pc1}} | ||
{{Use dmy dates|date= | {{EngvarB|date=May 2014}} | ||
{{Use dmy dates|date=May 2021}} | |||
{{Infobox person | {{Infobox person | ||
| name = Harshad Mehta | | name = Harshad Shantilal Mehta | ||
| image = Harshad Mehta.jpg | | image = Harshad Mehta.jpg | ||
| caption = | | caption = | ||
| birth_place = [[Paneli Moti]], [[ | | birth_place = [[Paneli Moti]], [[Saurashtra (state)|Saurashtra State]] (now in [[Gujarat]]), India | ||
| birth_name = | | birth_name = Harshad Mehta | ||
| birth_date = {{Birth date|df=yes|1954|07|29}} | | birth_date = {{Birth date|df=yes|1954|07|29}} | ||
| death_date = {{Death date and age|df=yes|2001|12|31|1954|07|29}} | | death_date = {{Death date and age|df=yes|2001|12|31|1954|07|29}} | ||
| death_place = [[Thane, Maharashtra]], India | | death_place = [[Thane district|Thane]], [[Maharashtra]], India | ||
| criminal_charges = | | criminal_charges = | ||
| criminal_penalty = 5 years rigorous imprisonment | | criminal_penalty = 5 years rigorous imprisonment | ||
| occupation = Businessman | | occupation = {{hlist|Businessman|[[stockbroker]]}} | ||
}} | }} | ||
'''Harshad Shantilal Mehta''' (29 July 1954 — 31 December 2001) was an Indian [[stockbroker]] and a convicted fraudster. Mehta's involvement in the [[1992 securities scam|1992 Indian securities scam]] made him infamous as a [[market manipulation|market manipulator]].<ref>{{cite web |title=The securities scam of 1992 – CBI Archives |url=http://www.cbi.gov.in/fromarchives/harshadmehta_nw/harshadmehta.php |website=cbi.gov.in |publisher=CBI (Central Bureau of Investigation), India |access-date=22 May 2018}}</ref> | |||
Of the 27 criminal charges brought against Mehta, he was only convicted of four, before his death (by sudden heart attack) at age 47 in 2001.<ref name="sebi1">{{cite web |title=Action against Harshad Mehta, Videocon, BPL and Sterlite (Press release 19 April 2001) |url=https://www.sebi.gov.in/media/press-releases/apr-2001/action-against-harshad-mehta-videocon-bpl-and-sterlite_17608.html |website=sebi.gov.in |publisher=SEBI (Securities and exchange board of India) |access-date=30 January 2018}}</ref> It was alleged that Mehta engaged in a massive [[stock manipulation]] scheme financed by worthless bank receipts, which his firm brokered for "ready forward" transactions between banks. Mehta was convicted by the [[Bombay High Court]] and the [[Supreme Court of India]]<ref name="SC upholds Harshad Mehta's conviction">{{cite news |title=SC upholds Harshad Mehta's conviction |url=http://articles.timesofindia.indiatimes.com/2003-01-14/india/27279459_1_securities-scam-conviction-mehta-and-two |archive-url=https://web.archive.org/web/20131023061215/http://articles.timesofindia.indiatimes.com/2003-01-14/india/27279459_1_securities-scam-conviction-mehta-and-two |url-status=dead |archive-date=23 October 2013 |access-date=14 October 2012 |newspaper=[[The Times of India]] |date=14 January 2003}}</ref> for his part in a financial scandal valued at {{INRConvert|100|b}} which took place on the Bombay Stock Exchange (BSE). The scandal exposed the loopholes in the [[Indian banking|Indian banking system]] and the [[Bombay Stock Exchange|Bombay Stock Exchange (BSE)]] transaction system, and consequently the [[SEBI]] introduced new rules to cover those loopholes. He was on [[trial]] for 9 years, until he died at the end of 2001 from a heart attack.<ref name="Hinduline">{{cite news |title=Admires of Harshad Mehta |url=http://www.thehindubusinessline.in/bline/2002/01/01/stories/2002010102180100.htm |newspaper=Business Line}}</ref><ref>{{cite news |title=Harshad Mehta's scam unfold |url=http://www.rediff.com/money/2001/apr/19sebi1.htm |work=Rediff.com}}</ref> | |||
Of the 27 criminal charges brought against | |||
==Early life== | ==Early life== | ||
Harshad Shantilal Mehta<ref name="parikh">{{cite news |last1=Parikh |first1=Daksesh |last2=Katiyar |first2=Arun |title=Spreading Shockwaves |url=http://indiatoday.intoday.in/story/securities-scandal-harshad-mehta-being-put-behind-bars-millions-lose-their-fortune/1/307181.html |access-date=31 October 2010| | Harshad Shantilal Mehta<ref name="parikh">{{cite news |last1=Parikh |first1=Daksesh |last2=Katiyar |first2=Arun |title=Spreading Shockwaves |url=http://indiatoday.intoday.in/story/securities-scandal-harshad-mehta-being-put-behind-bars-millions-lose-their-fortune/1/307181.html |access-date=31 October 2010|work=India Today |date=8 January 2013}}</ref> was born on 29 July 1954,<ref>{{cite web |url=http://flame.org.in/knowledgecenter/scam.aspx |title=Harshad Mehta & Ketan Parekh Scam |publisher=Flame |date=23 April 1992 |access-date=21 May 2013}}</ref> at Paneli Moti, [[Rajkot district]], in a [[Gujarati people|Gujarati]] [[Jain]] family.<ref>{{Cite web|first=V. Shankar |last=Aiyar|orig-date=14 January 2002| date=10 September 2002 |title=Scam-tainted stockbroker Harshad Mehta passes away|url=https://www.indiatoday.in/magazine/obituary/story/20020114-scam-tainted-stockbroker-harshad-mehta-passes-away-796078-2002-01-14|access-date=15 November 2020|website=India Today|language=en}}</ref>{{failed verification|date=March 2022}} His early childhood was spent in [[Borivali]], where his father was a small-time [[textile]] businessman.{{Citation needed|date=December 2020}} | ||
==Education== | ==Education== | ||
| Line 29: | Line 27: | ||
==Work and life== | ==Work and life== | ||
Jobs, often related to sales, including selling hosiery, cement, and sorting diamonds. Mehta started his career as a sales person in the Mumbai office of [[New India Assurance Company Limited]] (NIACL). During this time, he got interested in the stock market and after a few days, resigned and joined a brokerage firm. In the early 1980s, he moved to a lower level clerical job at the brokerage firm Harjivandas Nemidas Securities | Jobs, often related to sales, including selling hosiery, cement, and sorting diamonds. Mehta started his career as a sales person in the Mumbai office of [[New India Assurance Company Limited]] (NIACL). During this time, he got interested in the stock market and after a few days, resigned and joined a brokerage firm. In the early 1980s, he moved to a lower level clerical job at the brokerage firm Harjivandas Nemidas Securities where he worked a [[Jobber (merchandising)|jobber]] for the broker Prasann Pranjivandas Broker who he considered his "Guru". | ||
Over a period of ten years, beginning 1980, he served in positions of increasing responsibility at a series of [[brokerage firm]]s. By 1990, he had risen to a position of prominence in the Indian securities industry, with the media (including popular magazines such as [[Business Today (India)|Business Today]]) touting him as "[[Amitabh Bachchan]] of the Stock market".<ref name="parikh" /> | Over a period of ten years, beginning 1980, he served in positions of increasing responsibility at a series of [[brokerage firm]]s. By 1990, he had risen to a position of prominence in the Indian securities industry, with the media (including popular magazines such as ''[[Business Today (India)|Business Today]]'') touting him as "[[Amitabh Bachchan]] of the Stock market".<ref name="parikh" /> | ||
Grow More Research and Asset Management, with the financial assistance of associates, when the BSE auctioned a broker's card.<ref name="parikh" /> He actively started to trade in 1986.<ref name="parikh" /> By early 1990, a number of eminent people began to invest in his firm, and utilize his services. It was at this time that he began trading heavily in the shares of [[ACC Limited|Associated Cement Company (ACC)]]. The price of shares in the cement company eventually rose from {{INR}}200 to nearly {{INR}}9,000 due to a massive spate of buying from a set of brokers including Mehta.<ref>{{cite news |last1=Dalal |first1=Sucheta |author-link=Sucheta Dalal |title=The pied piper of Dalal Street |work=[[The Times of India]] |date=24 April 1992}}</ref> Mehta justified this excessive trading in ACC shares by stating that the stock had been [[Undervalued stock|undervalued]], and that the market had simply corrected when it revalued the company at a price equivalent to the cost of building a similar enterprise; the so-called "replacement cost theory" that he had put forward.<ref name="Flame">{{cite news |url=http://flame.org.in/knowledgecenter/scam.aspx |title=Harshad Mehta's Scam |access-date=20 April 2012 |publisher=Flame.org}}</ref> | Grow More Research and Asset Management, with the financial assistance of associates, when the BSE auctioned a broker's card.<ref name="parikh" /> He actively started to trade in 1986.<ref name="parikh" /> By early 1990, a number of eminent people began to invest in his firm, and utilize his services. It was at this time that he began trading heavily in the shares of [[ACC Limited|Associated Cement Company (ACC)]]. The price of shares in the cement company eventually rose from {{INR}}200 to nearly {{INR}}9,000 due to a massive spate of buying from a set of brokers including Mehta.<ref>{{cite news |last1=Dalal |first1=Sucheta |author-link=Sucheta Dalal |title=The pied piper of Dalal Street |work=[[The Times of India]] |date=24 April 1992}}</ref> Mehta justified this excessive trading in ACC shares by stating that the stock had been [[Undervalued stock|undervalued]], and that the market had simply corrected when it revalued the company at a price equivalent to the cost of building a similar enterprise; the so-called "replacement cost theory" that he had put forward.<ref name="Flame">{{cite news |url=http://flame.org.in/knowledgecenter/scam.aspx |title=Harshad Mehta's Scam |access-date=20 April 2012 |publisher=Flame.org}}</ref> | ||
During this period, especially in 1990–1991, the media portrayed a heightened [[deified]] image of Mehta, calling him "The Big Bull". He was covered in a cover page article of a number of publications including the popular economic magazine ''Business Today'', in an article titled "Raging Bull". His flashy lifestyle of a sea facing 15,000 square feet penthouse in the tony area of [[Worli]] complete with a mini golf course and swimming pool, and his fleet of cars including a [[Toyota Corolla]], | During this period, especially in 1990–1991, the media portrayed a heightened [[deified]] image of Mehta, calling him "The Big Bull". He was covered in a cover page article of a number of publications including the popular economic magazine ''Business Today'', in an article titled "Raging Bull". His flashy lifestyle of a sea facing 15,000 square feet penthouse in the tony area of [[Worli]] complete with a mini golf course and swimming pool, and his fleet of cars including a [[Toyota Corolla]], [[Lexus LS]]400, and [[Toyota Sera]] were flashed in publications. These further exemplified his image at a time when these were rarities even for the rich people of India.<ref name="btoday">{{cite news |title=Raging Bull – Harshad Mehta |work=Business Today |date=April 1991}}</ref> | ||
In criminal indictments later brought by the authorities, it was alleged that Mehta and his associates then undertook a much broader scheme, which resulted in manipulating the rise in the Bombay Stock Exchange. The scheme was financed by supposedly [[collateral (finance)|collateralised]] bank receipts, which were in fact uncollateralised. The bank receipts were used in short-term bank-to-bank lending, known as "ready forward" transactions, which Mehta's firm brokered. By the second half of 1991 Mehta had earned the nickname of the "Big Bull", because he was said to have started the bull run in the stock market.<ref name="Flame" /> Some of the people who worked in his firm included [[Ketan Parekh]], who later would be involved in his own replicate scam.<ref name="dalal" /> | In criminal indictments later brought by the authorities, it was alleged that Mehta and his associates then undertook a much broader scheme, which resulted in manipulating the rise in the Bombay Stock Exchange. The scheme was financed by supposedly [[collateral (finance)|collateralised]] bank receipts, which were in fact uncollateralised. The bank receipts were used in short-term bank-to-bank lending, known as "ready forward" transactions, which Mehta's firm brokered. By the second half of 1991 Mehta had earned the nickname of the "Big Bull", because he was said to have started the bull run in the stock market.<ref name="Flame" /> Some of the people who worked in his firm included [[Ketan Parekh]], who later would be involved in his own replicate scam.<ref name="dalal" /> | ||
| Line 45: | Line 43: | ||
=== Bank receipt fraud === | === Bank receipt fraud === | ||
Another instrument used in a big way was the bank receipt. In a ready forward deal, securities were not moved back and forth in actuality. Instead, the borrower, i.e. the seller of securities, gave the buyer of the securities a BR. The BR serves as a receipt from the selling bank, and also promises that the buyer will receive the securities they have paid for at the end of the | Another instrument used in a big way was the bank receipt. In a ready forward deal, securities were not moved back and forth in actuality. Instead, the borrower, i.e. the seller of securities, gave the buyer of the securities a BR. The BR serves as a receipt from the selling bank, and also promises that the buyer will receive the securities they have paid for at the end of the terms. | ||
Having figured this out, Mehta needed banks, which could issue fake BRs, or BRs not backed by any government securities. | Having figured this out, Mehta needed banks, which could issue fake BRs, or BRs not backed by any government securities. | ||
Once these fake BRs were issued, they were passed on to other banks and the banks in turn gave money to Mehta, plainly assuming that they were lending against government securities when this was not really the case.<ref>{{cite web |last1=Dalal |first1=Sucheta |title=Revisiting 1992: The chickens come home to roost |url=http://www.suchetadalal.com/?id=41c3cfbe-bba7-f153-492e829722c5&base=sub_sections_content&f |website=Official website of Sucheta Dalal |publisher=Sucheta Dalal |access-date=22 May 2018}}</ref> | Once these fake BRs were issued, they were passed on to other banks and the banks in turn gave money to Mehta, plainly assuming that they were lending against government securities when this was not really the case.<ref>{{cite web |last1=Dalal |first1=Sucheta |title=Revisiting 1992: The chickens come home to roost |url=http://www.suchetadalal.com/?id=41c3cfbe-bba7-f153-492e829722c5&base=sub_sections_content&f |website=Official website of Sucheta Dalal |publisher=Sucheta Dalal |access-date=22 May 2018}}</ref> | ||
He took the price of ACC from ₹200 to ₹9,000 | He took the price of ACC from ₹200 to ₹9,000 (an increase of 4,400%). Since he had to book profits in the end, the day he sold was the day when the markets crashed.<ref name="IT">{{cite news |last1=Pathak |first1=Rahul |title=Securities scandal: Investigators haul in more people, discover ever-widening net |url=https://www.indiatoday.in/magazine/economy/story/19920715-securities-scandal-investigators-haul-in-more-people-discover-ever-widening-net-766548-2013-01-03 |access-date=22 May 2018 |work=India Today |date=2 January 2013}}</ref><ref>{{Cite web|title=Scam 1992: Was Harshad Mehta the mastermind or fall guy of securities fraud? A bit of both|url=https://www.cnbctv18.com/market/scam-1992-was-harshad-mehta-the-mastermind-or-victim-of-securities-fraud-a-bit-of-both-7296211.htm|access-date=27 October 2020|website=cnbctv18.com|date=25 October 2020 |language=en-US}}</ref> | ||
===Outbreak of 1992 securities fraud=== | ===Outbreak of 1992 securities fraud=== | ||
On 23 April 1992, journalist | On 23 April 1992, journalist [[Sucheta Dalal]] exposed illegal methods in a column in ''[[The Times of India]]''. Mehta was dipping illegally into the banking system to finance his buying. | ||
A typical ready forward deal involved two banks brought together by a [[broker]] in lieu of a [[Commission (remuneration)|commission]]. The broker handles neither the cash nor the securities, though that was not the case in the lead-up to the fraud. In this settlement process, deliveries of securities and payments were made through the broker. That is, the seller handed over the securities to the broker, who passed them to the buyer, while the buyer gave the cheque to the broker, who then made the payment to the seller. In this settlement process, the buyer and the seller might not even know whom they had traded | A typical ready forward deal involved two banks brought together by a [[broker]] in lieu of a [[Commission (remuneration)|commission]]. The broker handles neither the cash nor the securities, though that was not the case in the lead-up to the fraud. In this settlement process, deliveries of securities and payments were made through the broker. That is, the seller handed over the securities to the broker, who passed them to the buyer, while the buyer gave the cheque to the broker, who then made the payment to the seller. In this settlement process, the buyer and the seller might not even know with whom they had traded, either being known only to the broker. This the brokers could manage primarily because by now they had become [[market maker]]s and had started trading on their account. To keep up a semblance of legality, they pretended to be undertaking the transactions on behalf of a bank. | ||
Mehta used forged BRs to gain unsecured loans, and used several small banks to issue BRs on demand. Once these fake BRs were issued, they were passed on to other banks and the banks in turn gave money to Mehta, | Mehta used forged BRs to gain unsecured loans, and used several small banks to issue BRs on demand. Once these fake BRs were issued, they were passed on to other banks and the banks in turn gave money to Mehta, mistakenly believing that they were lending against government securities. This money was used to drive up the prices of stocks in the stock market. When time came to return the money, the shares were sold for a profit and the BR was retired. The money due to the bank was returned. | ||
This went on as long as the stock prices | This went on as long as the stock prices rose, and no one knew about Mehta's operations. Once the fraud was exposed, though, many banks were left holding worthless BRs – the banking system had been swindled out of a whopping {{INRConvert|40|b|lk=on|year=1992}}. They knew that they would be accused if people discovered his involvement in issuing cheques to Mehta. Subsequently, it transpired that [[Citibank]], brokers like Pallav Sheth and Ajay Kayan, industrialists like [[Aditya Birla]], Hemendra Kothari, a number of politicians, and the RBI Governor [[S. Venkitaramanan|S.Venkitaramanan]] all had allowed or facilitated Mehta's market manipulation.<ref name="Indiatoday">{{cite news |last1=Chakravarti |first1=Sudeep |title=Book review: Debashis Basu's 'The fraud: Who Won, Who Lost, Who Got Away' |url=https://www.indiatoday.in/magazine/society-the-arts/books/story/19930415-book-review-debashis-basu-the-fraud-who-won-who-lost-who-got-away-810966-1993-04-15 |access-date=30 January 2018 |work=India Today |date=15 April 1993}}</ref> | ||
==In popular culture== | ==In popular culture== | ||
{{See also|1992 Indian stock market scam#In popular culture}} | |||
=== Books === | === Books === | ||
* Mehta's life and his 1992 scam are covered in great detail by [[Sucheta Dalal]] and Debashis Basu in their book ''The Scam: from Harshad Mehta To Ketan Parekh''.<ref>{{ISBN|8188154024|9788188154029}}</ref><ref>{{Cite book|last=Basu, Debashis, 1960-|url=https://www.worldcat.org/oclc/496105068|title=The scam : from Harshad Mehta to Ketan Parekh|date=2007|publisher=KenSource Information Services|others=Dalal, Sucheta|isbn=978-81-88154-02-9|edition=Updated 3rd |location=Mumbai|oclc=496105068}}</ref> | |||
* Mehta's life and his 1992 scam are covered in great detail by Sucheta Dalal and Debashis Basu in their book ''The Scam: from Harshad Mehta To | |||
=== Films and television === | === Films and television === | ||
* ''[[Scam 1992]]'', streaming on [[SonyLIV]] and produced by [[Applause Entertainment]] is based on his life.<ref>{{cite news|url=https://www.mumbailive.com/en/digital/sonyliv-releases-the-trailer-of-web-series-scam-1992-on-harshad-mehta-stock-market-scam-54174 |title=SonyLIV Releases The Trailer Of 'Scam 1992' Based On Harshad Mehta's 1992 Stock Market Scam |access-date=17 August 2020}}</ref> | * ''[[Scam 1992]]'', streaming on [[SonyLIV]] and produced by [[Applause Entertainment]] is based on his life, which was inspired from [[Sucheta Dalal]]'s book ''The Scam''. Actor [[Pratik Gandhi]] played Mehta. It is one most highly rated television shows in the world on [[IMDb]].<ref>{{cite news|url=https://www.mumbailive.com/en/digital/sonyliv-releases-the-trailer-of-web-series-scam-1992-on-harshad-mehta-stock-market-scam-54174 |title=SonyLIV Releases The Trailer Of 'Scam 1992' Based On Harshad Mehta's 1992 Stock Market Scam |access-date=17 August 2020}}</ref> | ||
* The character Natwar Shah in movie [[Aankhen (1993 film)|''Aankhein'']] (1993), placed under scanner for a multi-[[crore]] scandal, was inspired by Harshad Mehta.<ref>{{cite web |url=http://indiatoday.intoday.in/story/aankhen-may-become-a-box-office-classic/1/302561.html |title=Aankhen may become a box-office classic |access-date=31 December 2013 | | * The character Natwar Shah in movie [[Aankhen (1993 film)|''Aankhein'']] (1993), placed under scanner for a multi-[[crore]] scandal, was inspired by Harshad Mehta.<ref>{{cite web |url=http://indiatoday.intoday.in/story/aankhen-may-become-a-box-office-classic/1/302561.html |title=Aankhen may become a box-office classic |access-date=31 December 2013 |work=India Today}}</ref> | ||
* The Mehta scandal was portrayed in the [[Bollywood|Hindi movie]], ''[[Gafla]]''. It was premiered in [[London Film Festival|Times BFI 50th London Film Festival]] on 18 October 2006.<ref>{{cite web |url=http://www.nowrunning.com/movie/3469/bollywood.hindi/gafla/review.htm |title=Movie based on Harshad Mehta released |access-date=20 April 2012 |publisher=NowRunning.com}}</ref> | * The Mehta scandal was portrayed in the [[Bollywood|Hindi movie]], ''[[Gafla]]''. It was premiered in [[London Film Festival|Times BFI 50th London Film Festival]] on 18 October 2006.<ref>{{cite web |url=http://www.nowrunning.com/movie/3469/bollywood.hindi/gafla/review.htm |title=Movie based on Harshad Mehta released |access-date=20 April 2012 |publisher=NowRunning.com}}</ref> | ||
* Harshad Mehta was mentioned in the 2018 TV show ''[[Yeh Un Dinon Ki Baat Hai]]'' based on 1990s' Ahmedabad. | * Harshad Mehta<ref>{{Cite web |date=2022-05-14 |title=Harshad Mehta Biography - Scam, Case, Net Worth, Family, Death - Beyond Bollywood |url=https://beyondbollywood.co.in/harshad-mehta-biography-scam-case-net-worth/ |access-date=2022-05-14 |language=en-US}}</ref> was mentioned in the 2018 TV show ''[[Yeh Un Dinon Ki Baat Hai]]'' based on 1990s' Ahmedabad. | ||
* The Mehta scandal was portrayed in the Hindi Webseries, ''The Bull Of Dalal Street''. It was premiered in [[Ullu App]] on 21 February 2020. | * The Mehta scandal was portrayed in the Hindi Webseries, ''The Bull Of Dalal Street''. It was premiered in [[Ullu App]] on 21 February 2020. | ||
* A Bollywood film ''[[The Big Bull]]'', starring [[Abhishek Bachchan]], loosely based on his life and financial crimes | * A Bollywood film ''[[The Big Bull]]'' (2021), starring [[Abhishek Bachchan]], loosely based on his life and financial crimes. | ||
==See also== | ==See also== | ||
| Line 86: | Line 84: | ||
==External links== | ==External links== | ||
* [https://www.nytimes.com/1992/06/09/business/huge-financial-scandal-shakes-indian-politics.html NY Times Article on Harshad Mehta] | * [https://www.nytimes.com/1992/06/09/business/huge-financial-scandal-shakes-indian-politics.html NY Times Article on Harshad Mehta] | ||
{{DEFAULTSORT:Mehta, Harshad}} | {{DEFAULTSORT:Mehta, Harshad}} | ||
[[Category:1954 births]] | [[Category:1954 births]] | ||
[[Category:2001 deaths]] | [[Category:2001 deaths]] | ||
[[Category:20th-century Indian Jains]] | |||
[[Category:20th-century Indian businesspeople]] | |||
[[Category:20th-century Indian criminals]] | |||
[[Category:Businesspeople from Mumbai]] | [[Category:Businesspeople from Mumbai]] | ||
[[Category: | [[Category:Businesspeople from Gujarat]] | ||
[[Category:People from Rajkot district]] | [[Category:People from Rajkot district]] | ||
[[Category:Gujarati people]] | |||
[[Category:Indian fraudsters]] | [[Category:Indian fraudsters]] | ||
[[Category:Indian stock traders]] | |||
[[Category:Indian money launderers]] | |||
[[Category:Indian criminals]] | |||
[[Category:Indian Jains]] | |||
[[Category:Stockbrokers]] | [[Category:Stockbrokers]] | ||
[[Category:Indian investors]] | [[Category:Indian investors]] | ||
[[Category:Scandals in India]] | |||
[[Category:Financial scandals]] | |||
[[Category:People convicted of fraud]] | |||
[[Category:People from Gujarat]] | |||
[[Category:People convicted of making false statements]] | |||
[[Category:Prisoners and detainees of Maharashtra]] | |||