Once these fake BRs were issued, they were passed on to other banks and the banks in turn gave money to Mehta, plainly assuming that they were lending against government securities when this was not really the case. Źródło: Wikipedia Prawie wszystkie firmy z Indii są notowane na obu giełdach, ale NSE ma dominujący udział w handlu spotami. History[ edit ] Since the s, the open outcry systems have been being replaced by electronic trading systems such as CATS and Globex. His early childhood was spent in Borivali , where his father was a small-time textile businessman. Instead, the borrower, i.
Share Market का सम्पूर्ण ज्ञान - Nifty - Share Market - Dr Vivek Bindra
His early childhood was spent in Borivaliwhere his father was a small-time textile businessman. A cricket enthusiast, Mehta did not show any special promise in school and came to Mumbai after his schooling for studies and to find work. Com in from Lala Lajpatrai College, Bombay and worked a number of odd jobs for the next eight years. During this time, he got interested in the stock market and after a few days, resigned and joined a brokerage firm.
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In the early s, he moved to a lower level clerical job at the brokerage firm Harjivandas Nemidas Securities where he worked a jobber for the broker Prasann Pranjivandas Broker who he considered his "Guru". Over a period of ten years, beginninghe served in positions of increasing responsibility at a series of brokerage firms. Byhe had risen to a position of prominence in the Indian securities industry, with the media including popular magazines such as Business Today touting him as " Amitabh Bachchan of the Stock market".
He was covered in a cover page article of a number of publications including the popular economic magazine Business Today, in an article titled "Raging Bull". His flashy lifestyle of a sea facing 15, square feet penthouse in the tony area of Worli complete with a mini golf course and swimming pool, and his fleet of cars including a Toyota CorollaLexus LS, and Toyota Sera were flashed in publications.
These further exemplified his image at a time when these were rarities even for the rich people of India.
Rynek zadłużenia Sesja handlowa Handel na segmencie akcji odbywa się we wszystkie dni tygodnia z wyjątkiem sobót i niedziel oraz świąt zadeklarowanych z wyprzedzeniem.
The scheme was financed by supposedly collateralised bank receipts, which were in fact uncollateralised. The bank receipts were used in short-term bank-to-bank lending, known as "ready forward" transactions, which Mehta's firm brokered.
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By the second half of Mehta had earned the nickname of the "Big Bull", because he was said to have started the bull run in the stock market. However, they were expected to post profits and to retain a certain ratio threshold of their assets in government fixed interest bonds. Mehta cleverly squeezed capital out of the banking system to address this requirement of banks and pumped this money into the share market.
He also promised the banks higher rates of interest, while asking them to transfer the money into his personal account, under the guise of buying securities for them from other banks. At that time, a bank had to go through a broker to buy securities and forward bonds from other banks.
Его поведение, одежда, словом, все в нем выглядело несколько не на своем месте в этом собрании. Он искажал картину: как и Элвин, он был анахронизмом. Он представлял из себя, однако, нечто гораздо большее.
Mehta used this money temporarily in his account to buy shares, thus hiking up demand of certain shares of good established companies like ACCSterlite Industries and Videocon dramatically, selling them off, passing on a part of the proceeds to the bank and kept the rest for himself. In a ready forward deal, securities were not moved back and forth in actuality.
History[ edit ] Since the s, the open outcry systems have been being replaced by electronic trading systems such as CATS and Globex. Floor trading is the meeting of traders or stockbrokers at a specific venue referred to as a trading floor or pit to buy and sell financial instruments using open outcry method to communicate with each other. These venues are typically stock exchanges or futures exchanges and transactions are executed by members of such an exchange using specific language or hand signals. During the s and s, phone and electronic trading replaced physical floor trading in most exchanges around the world. That means that the traders actually form a group around the post on the floor of the market for the specialist, someone that works for one of the NYSE member firms and handles the stock.
Instead, the borrower, i. The BR serves as a receipt from the selling bank, and also promises that the buyer will receive the securities they have paid for at the end of the term.
Having figured this out, Mehta needed banks, which could issue fake BRs, System transakcji online Bombay Exchange BRs not backed by any government securities. Once these fake BRs were issued, they were passed on to other banks and the banks in turn gave System transakcji online Bombay Exchange to Mehta, plainly assuming that they were lending against government securities when this was not really the case.
The stock markets were overheated and the bulls were on a mad run.
Since he had to book profits in the end, the day he sold was the day when the markets crashed. Mehta was dipping illegally into the banking system to finance his buying.
A typical ready forward deal involved two banks brought together by a broker in lieu of a commission. The broker handles neither the cash nor the securities, though that was not the case in the lead-up to the fraud.
Niesamowity przewodnik po indyjskim rynku akcji (przydatny)
In this settlement process, deliveries of securities and payments were made through the broker. That is, the seller handed over the securities to the broker, who passed them to the buyer, while the buyer gave the cheque to the broker, who then made the payment to the seller.
In this settlement process, the buyer and the seller might not even know whom they had traded with, either being known only to the broker. This the brokers could manage primarily because by now they had become market makers and had started trading on their account.
To keep up a semblance of legality, they pretended to be undertaking the transactions on behalf of a bank.
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Mehta used forged BRs to gain unsecured loans, and used several small banks to issue BRs on demand. Once these fake BRs were issued, they were passed on to other banks and the banks in turn gave money to Mehta, assuming that they were lending against government securities when this was not really the case. This money was used to drive up the prices of stocks in the stock market. When time came to return the money, the shares were sold for a profit and the BR was retired. The money due to the bank was returned.
This went on as long as the stock prices kept going up, and no one had a clue about Mehta's operations. He knew that he would be accused if people came to know about his involvement in issuing cheques to Mehta.
Niesamowity przewodnik po indyjskim rynku akcji (przydatny)
Venkitaramanan all had played a role in allowing or facilitating Mehta's rigging of the share market. It was premiered in Ullu App on 21 February A Bollywood film The Big Bullstarring Abhishek Bachchanloosely based on his life and financial crimes is under production.
The film is yet to be released. See also.