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1992 Securities Scam
The 1992 Indian stock market scam was a market manipulation carried out by Harshad Mehta, Harshad Shantilal Mehta with other bankers and politicians on the Bombay Stock Exchange. The scam caused significant disruption to the stock market of India, defrauding investors of over ten million USD. Techniques used by Mehta involved having Corruption in India, corrupt officials Cheque forgery, signing fake cheques, misusing market loopholes, and fabrication to drive the prices of stocks up to 40 times their original price. Stock traders making good returns as a result of the scam were able to fraudulently obtain unsecured loans from banks. When the scam was discovered in April 1992, the Indian stock market (other), Indian stock market collapsed, and the same banks suddenly found themselves holding millions of INR in now useless debt. 1992 Scandal Overview The scam was the biggest money market scam ever committed in India, amounting to approximately 5000 crores. The main per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Manipulation
In economics and finance, market manipulation is a type of market abuse where there is a deliberate attempt to interfere with the free and fair operation of the market; the most blatant of cases involve creating false or misleading appearances with respect to the price of, or market for, a product, security or commodity. Market manipulation is prohibited in most countries, in particular, it is prohibited in the United States under Section 9(a)(2) of the Securities Exchange Act of 1934, in the European Union under Article 12 of the ''Market Abuse Regulation'', in Australia under Section 1041A of the Corporations Act 2001, and in Israel under Section 54(a) of the securities act of 1968. In the US, market manipulation is also prohibited for wholesale electricity markets under Section 222 of the Federal Power Act and wholesale natural gas markets under Section 4A of the Natural Gas Act. The US Securities Exchange Act defines market manipulation as "transactions which create an a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cheque
A cheque, or check (American English; see spelling differences) is a document that orders a bank (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The person writing the cheque, known as the ''drawer'', has a transaction banking account (often called a current, cheque, chequing, checking, or share draft account) where the money is held. The drawer writes various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the ''drawee'', to pay the amount of money stated to the payee. Although forms of cheques have been in use since ancient times and at least since the 9th century, they became a highly popular non-cash method for making payments during the 20th century and usage of cheques peaked. By the second half of the 20th century, as cheque processing became automated, billions of cheques were issued annually; these volumes peaked ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of India
The Supreme Court of India ( IAST: ) is the supreme judicial authority of India and is the highest court of the Republic of India under the constitution. It is the most senior constitutional court, has the final decision in all legal matters except for personal laws and interstate river disputes, and also has the power of judicial review. The Chief Justice of India is the Head and Chief Judge of the Supreme Court, which consists of a maximum of 34 judges, and has extensive powers in the form of original, appellate and advisory jurisdictions. New judges here are uniquely nominated by existing judges and other branches of government have neglible say as the court follows collegium system for appointments. As the apex and most powerful constitutional court in India, it takes up appeals primarily against verdicts of the High Courts of various states of the Union and other courts and tribunals. It is required to safeguard the fundamental rights of citizens and settles dispute ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bombay High Court
The High Court of Bombay is the high court of the states of Maharashtra and Goa in India, and the union territory of Dadra and Nagar Haveli and Daman and Diu. It is seated primarily at Mumbai (formerly known as Bombay), and is one of the oldest high courts in India. The High Court has regional branches at Nagpur and Aurangabad in Maharashtra and Panaji, the capital of Goa. The first Chief Justice, the Attorney General and Solicitor General of Independent India were from this court. Since India's Independence, 22 judges from this court have been elevated to the Supreme Court and 8 have been appointed to the office of Chief Justice of India. The court has Original Jurisdiction in addition to its Appellate. Judgements issued by this court can be appealed ''only'' to the Supreme Court of India. The Bombay High Court has a sanctioned strength of 94 judges (71 permanent, 23 additional). The building is part of The Victorian and Art Deco Ensemble of Mumbai, which was added to t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bureau Of Investigation
The Central Bureau of Investigation (CBI) is the premier investigating agency of India. It operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions. Originally set up to investigate bribery and governmental corruption, in 1965 it received expanded jurisdiction to investigate breaches of central laws enforceable by the Government of India, multi-state organised crime, multi-agency or international cases. The agency has been known to investigate several economic crimes, special crimes, cases of corruption and other cases. CBI is exempted from the provisions of the Right to Information Act. CBI is India's officially designated single point of contact for liaison with the Interpol. The CBI headquarter is located in CGO Complex, near Jawaharlal Nehru Stadium in New Delhi. History Special Police Establishment The Bureau of Investigation traces its origins to the Special Police Establishment (SPE), a Central Government Police force, which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Criminal Offence
In ordinary language, a crime is an unlawful act punishable by a state or other authority. The term ''crime'' does not, in modern criminal law, have any simple and universally accepted definition,Farmer, Lindsay: "Crime, definitions of", in Cane and Conoghan (editors), ''The New Oxford Companion to Law'', Oxford University Press, 2008 (), p. 263Google Books). though statutory definitions have been provided for certain purposes. The most popular view is that crime is a category created by law; in other words, something is a crime if declared as such by the relevant and applicable law. One proposed definition is that a crime or offence (or criminal offence) is an act harmful not only to some individual but also to a community, society, or the state ("a public wrong"). Such acts are forbidden and punishable by law. The notion that acts such as murder, rape, and theft are to be prohibited exists worldwide. What precisely is a criminal offence is defined by the criminal law of each r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BSE SENSEX
The BSE SENSEX (also known as the S&P Bombay Stock Exchange Sensitive Index or simply SENSEX) is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange. The 30 constituent companies which are some of the largest and most actively traded stocks, are representative of various industrial sectors of the Indian economy. Published since 1 January 1986, the S&P BSE SENSEX is regarded as the pulse of the domestic stock markets in India. The base value of the SENSEX was taken as ''100'' on 1 April 1979 and its base year as ''1978–79''. On 25 July 2001 BSE launched DOLLEX-30, a dollar-linked version of the SENSEX. Etymology The term Sensex was coined by Deepak Mohoni, a stock market analyst in 1989. BSE Sensitive Index then was at about 750 points. it is a portmanteau of the words Sensitive and Index. Calculation The BSE has some reviews and modifies its composition to be sure it reflects current ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard Chartered
Standard Chartered plc is a multinational bank with operations in consumer, corporate and institutional banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa, and the Middle East. Standard Chartered has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has secondary listings on the Hong Kong Stock Exchange, the National Stock Exchange of India, and OTC Markets Group Pink. Its largest shareholder is the Government of Singapore-owned Temasek Holdings. The Financial Stability Board considers it a systemically important bank. José Viñals is the Group Chairman of Standard Chartered. Bill Winters is the current Group Chief Executive. Name The name Standard Chartered comes from the names of the two banks that merged in 1969 to create it: The Chartered Bank of India, Australia and China, and Standard Bank of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SBI Capital Markets
SBI Capital Markets (SBICAPS) is a wholly owned investment banking subsidiary of State Bank of India (SBI). Headquartered in Mumbai, SBICAP has 5 regional offices across India (Ahmedabad, Chennai, Hyderabad, Kolkata and New Delhi) and 4 subsidiaries - SBICAP Securities Limited, SBICAP Trustee Company Limited, SBICAP Ventures Limited and SBICAP (Singapore) Limited. SBICAP offers the entire bouquet of investment banking and corporate advisory services. The service bouquet includes the full range of Financial Advisory Services under one umbrella covering Project Advisory and Structured Financing, Capital Markets, Mergers & Acquisitions, Private Equity and Stressed Assets Resolution. History SBICAPS was established in August 1986. In January 1997 the Asian Development Bank The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Bank Of Saurashtra
The State Bank of Saurashtra was a government-owned bank in India, with its headquarters at Bhavnagar. It was one of the seven Associate Banks of the State Bank of India, with which it merged on 13 August 2008. At the time of the merger, the bank had a network of 423 branches spread over 15 states and the Union Territory of Daman and Diu. Prior to 1948, the region of Saurashtra, which at present forms a part of Gujarat State, comprised many small, medium and large princely states. Bhavnagar, Rajkot, and Jamnagar, which were among the larger states, and two smaller states, Palitana and Vadia, had established their own Darbar (meaning Palace) Banks, the oldest of which was Bhavnagar Darbar Bank, established in 1902. These banks mainly catered to the needs of the governments of their respective princely states, and acted as depositories for local savings. After the establishment of Saurashtra state in 1948, there was a parallel amalgamation of these banks. The Bhavnagar Dar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Housing Bank
National Housing Bank (NHB), is the apex regulatory body for overall regulation and licensing of housing finance companies in India. It is under the jurisdiction of Ministry of Finance , Government of India. It was set up on 9 July 1988 under the National Housing Bank Act, 1987. NHB is the apex financial institution for housing. NHB has been established with an objective to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support incidental to such institutions and for matters connected therewith. The Finance Act, 2019 has amended the National Housing Bank Act, 1987. The amendment confers the powers of regulation of Housing Finance Companies (HFCs) to the Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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