-27 Lakhs of shares misappropriated about 90 companies.
-4000 Crore scam
-Two instruments used 1}Ready forward deal 2} Bank receipt
- BR removed by RBI
- Holding banks of fake BR had to face losses.
-31/12/2001 death of the bull
Process of scam and impacts are below :-
Can we do this now????The answer is , NO. Because RBI was removed the BR.
without presenting BR , How BANK - B and BANK C , ( in above example) will issue the cheques??
-4000 Crore scam
-Two instruments used 1}Ready forward deal 2} Bank receipt
- BR removed by RBI
- Holding banks of fake BR had to face losses.
-31/12/2001 death of the bull
Process of scam and impacts are below :-
Can we do this now????The answer is , NO. Because RBI was removed the BR.
without presenting BR , How BANK - B and BANK C , ( in above example) will issue the cheques??
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