ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Back to the Scam

Back to the Scam Jairaj Kapadia AS income-tax raids were carried out on stockbrokers in Bombay in the middle of October, the securities scam was in focus again. Not that the scam had gone out of sight, since the Joint Parliamentary Committee has been conducting its inquiry and the scam has been making news intermittently. But while the JPC inquiry was progressing, the CBI and the income-tax department had both seemed to lie low in the matter of the scam ever since Harshad Mehta, the first of the stockbrokers arrested and the last to have been released on bail, was freed from custody on September 22. So when the IT raids took place once again on stockbrokers this week, the scam shot back into focus at once. And this despite the income-tax authorities giving little away about why the fresh raids. However, following the raids there has also arisen the quesiion to what extent the investigations by the CBI and the income tax authorities had progressed.

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