STOCK MARKET SCANDAL: A STUDY ON THE EMERGENCE OF CORPORATE GOVERNANCE

Author Name: Astha Agarwal

Volume/Issue: 01/12

Country: India

DOI NO.: 08.2020-25662434 DOI Link: http://www.doi-ds.org/doilink/05.2021-98945646/UIJIR

Affiliation:

1. Disha Educational Institute, Kolkata, W.B.

ABSTRACT

This study is intended mainly to focus on the great stock market scandal of 1992, and how it led to the emergence of corporate governance in Indian subcontinent. The Stock Market crash of year 1992 is also known as the Harshad Mehta scam, it is also known as the SBI fraud. This was one of the major shocks experienced by the stock market, and hence its relevance can be still found in the Stock Market. Corporate Governance means governing the corporates based on the rules and regulations defined in the particular said act by the governing body, SEBI. This study provides for a detailed analysis of the Scam 1992, along with the amendments in the SEBI act. Lastly the implications of corporate governance are also discussed.

Key words: Scam 1992, Corporate Governance, Harshad Mehta, Clause 49, Companies Act 2013