Share market power of Harshad Mehta

By the late 1980s and early 1990s, Mehta was known as "The Big Bull" of the Indian stock market.

He operated through his firm, GrowMore Research and Asset Management.

He gained fame for heavily investing in blue-chip stocks like ACC, causing their prices to skyrocket.

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💰 1992 Securities Scam

The scam revolved around misusing banking systems:

1. Bank Receipts (BRs) Manipulation:

Mehta used fake BRs to obtain unsecured loans from banks.

Instead of using the money for government securities, he pumped it into the stock market, inflating stock prices.