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28 Years On: Harshad Mehta’s Comeback Case Still Haunts India

13 min · 13. maj 2026
episode 28 Years On: Harshad Mehta’s Comeback Case Still Haunts India cover

Beskrivelse

Nearly three decades after Harshad Mehta’s attempted market comeback in 1998, a special SEBI court in Mumbai has convicted the Doshi brothers and several companies linked to the so-called “Damayanti Group” for failing to comply with SEBI summons. But the bigger story is not just about the conviction — it is about India’s painfully slow judicial system, where cases continue for decades even after the main accused is no more. In this audio, Sucheta Dalal explains: • How Harshad Mehta allegedly used front companies to ramp up shares of BPL, Videocon and Sterlite • The infamous 1998 market manipulation episode and BSE bailout controversy • Why SEBI’s detailed investigation eventually collapsed at the appellate stage • How corporate groups and enablers escaped accountability • Why the Damayanti case still matters today • What this means for modern investigations like the Jane Street probe The case is a stark reminder that regulatory action means little without swift and final justice. ---------------------------------------- Hosted on Acast. See acast.com/privacy [https://acast.com/privacy] for more information.

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