Harshad mehta.in

• • Chennai, July 7 (IANS) Breaking her silence nearly 21 years after Harshad Mehta died in prison, Jyothi Mehta, the wife of the late scam-accused stock broker, charged the Thane jail authorities with gross negligence in providing timely medical help to her husband. Mehta's family members recently launched a website in his name -- https://www.harshadmehta.in -- wherein his wife wrote that the issue is being highlighted now as "the wounds are still fresh and they refuse to heal themselves despite the passage of 20 years, and our entire family sorely misses him". "We do not wish such punishment and the tragic death like this even for our enemies," she said. "It was almost past 11 p.m. on 30th December 2001 that lightning struck me when I was informed of the sudden and tragic death of my husband in Thane jail after 54 days of custody, even though he was absolutely hale and hearty and was just 47 years of age with no prior medical history of any heart ailment," she said. Jyoti alleged that on that fateful day, the jail authorities neglected his genuine complaint for four precious hours after he suffered the first heart attack at around 7 p.m. "He immediately reported the unusual pain to his younger brother Sudhir who was in the next cell from where he could hear Harshad but could not see him," she said. While the jail doctors examined Mehta, they did not have any medicine for heart attack, she said. "Harshad, therefore, requested them to give him Sorbitrate (medicine) which I...

In the history of scams in India, the year 1992 holds a special place. That year, for the first time, the country saw an ingenious machination of its stock market. Involving a fraud of around Rs 4,000 crore, the ‘Securities Scam’, as it came to be known, is still one of the biggest frauds perpetrated on the Indian stock market to date. It was a systematic fraud that involved bank receipts and stamp papers, and that eventually led the stock market to crash. The scam shook the country and ultimately changed the rules of the game on Dalal Street. Here are 10 key points about the Harshad Mehta scam of 1992: 1. Harshad Mehta, a registered and well-known broker, manipulated the Bombay Stock Exchange (BSE) along with his partners by taking advantage of loopholes in the banking system. 2. Mehta allegedly colluded with bank employees to get fake bank receipts (BRs) issued. He used these BRs to get other banks to lend him money under the impression that they were lending against government securities (G-Secs). 3. This amount was then put into the stock market to juice up share prices by up to a staggering 4,400 percent. Mehta then sold these shares at a significant profit and the principal amount was returned to the banks. 4. In all, Mehta defrauded the banks of nearly Rs 4,000 crore. Later, when his mode of operation in the stock market was discovered and exposed, banks realised that they were in possession of fake BRs holding no value. 5. As a result, the BSE Sensex rose from 2,00...