Harshad Mehta scam: Rs 650 cr to settle claims
Image: Huge burden.The payments are to be released on an interim basis on undertakings to be provided by the receiving entities that the amounts will be brought back to the Custodian if so ordered by the Special Court.
Harshad Mehta scam: Rs 650 cr to settle claims
Photographs: Reuters
The payments are to be released on an interim basis on undertakings to be provided by the receiving entities that the amounts will be brought back to the Custodian if so ordered by the Special Court.
Harshad Mehta scam: Rs 650 cr to settle claims
Photographs: Reuters
Harshad Mehta scam: Rs 650 cr to settle claims
Image: State Bank of India ad.This release, to be made against the outstanding dues of the Harshad Mehta Group will be the second of its kind.
It may be recalled that in March this year, Custodian Satish Loomba had released Rs 2,200 crore (Rs 22 billion) out of which Rs 2,000 crore (Rs 20 billion) had gone to the Income Tax department and the rest to the State Bank of India.
Harshad Mehta scam: Rs 650 cr to settle claims
Image: Huge losses.
Harshad Mehta scam: Rs 650 cr to settle claims
Photographs: Reuters
The Custodian (Trial of Offences Relating to Transactions in Securities), Ministry of Finance is the principal administrative officer under the Act for the attachment, management and liquidation of assets of the notified entities who functions under a system of concurrent judicial review by a Special Court, comprising sitting high court judges at Mumbai.
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