On August 6, 1992, after the scam was exposed, the markets crashed 72 per cent, leading to one of the biggest falls and a bearish phase that lasted two years. It was considered one of India's biggest stock market regulatory failures. At least one senior public servant, M J Pherwani, chairman of Unit Trust of India and National Housing Bank, killed himself as a result.
A market crash led by the fortunes of a prominent business house, following the report of a short-seller, is all that is common between then and now.
Bu hikaye Business Standard dergisinin February 06, 2023 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin February 06, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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