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India's First Stock Market Scam - The Mundra Scam
Haridas Mundhra, a Calcutta-based industrialist and stock speculator got the government owned Life Insurance Corporation (LIC) to invest a sum of Rs 1,26,86,100 in the shares of six of his troubled companies. This investment was done under governmental pressure and without consulting LIC’s investment committee.
He Sneak the LIC Committee and packed up . The elegance of investigation made an arrested and he went to jail for 22 years.


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