Following the revelation of the scam, Harshad Mehta faced numerous legal proceedings. He was charged with multiple counts of fraud, forgery, and conspiracy. Despite his initial defiance, Mehta eventually succumbed to the pressure and passed away in 2001 due to a heart attack.
Notable Court Cases
Some of the key legal cases related to the scam include:
- SEBI vs. Harshad Mehta: A landmark case that established SEBI's authority to regulate the securities market.
- Criminal charges against Mehta: Multiple cases filed by various banks and financial institutions.
