PICTURE OF HARSHAD MEHTA OVERVIEW WHO IS THIS MAN? HARSHAD MEHTA- story Started 1 his career with New India Assurance Co. 2 Quit his job in 1981 to become a sub-broker. 3 Went bankrupt in 1982 & recovered soon to become more stronger. 4 Went on to become one the most successful broker ± The Rags to Riches Story, thereby earning the nick name of ³THE BIG BULL´
WHAT WAS THE SCAM ALL ABOUT
1 Diversion of funds 2 Use of Ready Forward (RF) to maintain SLR (Statutory Liquidity Ratio)
3 Creative Accounting 4 Intra-day Trading
INTRODUCTION TO BIG BULL S LIFE
Family :gujarati jain family Father : Mr Shantilal Mehta , a small businessman Harshad Mehtaµs childhood was spent in Mumbai « Later, the family moved to Raipur , Madhya Pradesh. Somehow Harshad Mehta did not find his future in Raipur and could not stay away from Mumbai¶s shiny life style.
After coming to Mumbai Harshad Mehta joined his 1st job as dispatch clerk in the New India Assurance Company. But his 1st love is always Stock market. Harshad Mehta¶s first love was stock exchange. During his work at new india insurance he has started investing in stock market with his brother Ashwin Mehta. And after sometimes he has managed to get BSE broker¶s card. Who knows at that time that it was starting of great Indian scam!!
Growth period of Big Bull: EXPLOITING THE LOOPHOLE IN THE BANKING SYSTEM
After investing in stock exchange Harshad Mehta found some wrong patterN on trades in stock...