Posts tagged A Detailed Story Of Haridas Mundhra

The First Scam: A Detailed Story Of Haridas Mundhra by Mahendra Arya: Understanding the Mundhra Scandal

The Mundhra Scam, in a nutshell, was all about how the Life Insurance Corporation of India was manipulated into buying shares worth almost Rs. 1.26 crores, of companies that were owned by Calcutta-based businessman Haridas Mundhra. Whilst the amount by itself was not very huge, what made this a major one was the fact that it was India’s first major financial fraud, one that involved bureaucrats and politicians too. The First Scam: A Detailed Story Of Haridas Mundhra by Mahendra Arya is a detailed narrative which not only describes the whole event in a detailed breakdown but also does so by providing viable, well-researched facts and data related to the same.

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