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Business Ethics, 2nd Edition by A. C. Fernando

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Case Study

DEMAT SCAM 2003–2005

(This case study is based on reports in the print and electronic media, and is meant for academic purpose only. The author has no intention to sully the image of the corporate or executives discussed)

INTRODUCTION

It has been found time and again that greedy market speculators use both legal and illegal means to make quick money during a bull run. During every market boom in India, it has been found to have happened, finally ending in a scam. Harshad Mehta and Ketan Parekh triggered such scams earlier in the 1990s and 2000. The 2003–2005 bullish streak in the stock market, which saw the emergence of unscrupulous speculators cornering shares in the quota earmarked for retail investors in initial public offerings ...

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