Mumbai: Billionaire Harsh Goenka worries; stock market scam The events brewing can be equated with those committed by notorious market operators Harshad Mehta and Ketan Parekh.
Goenka claimed that the scam may have originated in Kolkata. In a post on X on Saturday, Goenka claimed that businessmen, especially from Kolkata, were making up books to inflate profits and thereby push up stock prices.
“As the stock market booms, all Misconduct People from the Harshad Mehta/Ketan Parekh era mainly returned to Kolkata,” Goenka posted. “The promoters are exaggerating profits and have links with Gujarat-Marwari brokers to drive their share prices to unrealistic levels.
Spokespersons for the finance ministry and Sebi did not comment for this article.
Incidentally, Goenka’s younger brother Sanjeev, who was born in Calcutta, was one of Calcutta’s leading businessmen. ITC, a cigarette-to-restaurant conglomerate, is the most valuable company headquartered in the city. Goenka agreed with one of the responders to Goenka’s post who said it was mainly large steel companies that were engaged in this inflated profit activity.
Goenka claimed that the scam may have originated in Kolkata. In a post on X on Saturday, Goenka claimed that businessmen, especially from Kolkata, were making up books to inflate profits and thereby push up stock prices.
“As the stock market booms, all Misconduct People from the Harshad Mehta/Ketan Parekh era mainly returned to Kolkata,” Goenka posted. “The promoters are exaggerating profits and have links with Gujarat-Marwari brokers to drive their share prices to unrealistic levels.
Spokespersons for the finance ministry and Sebi did not comment for this article.
Incidentally, Goenka’s younger brother Sanjeev, who was born in Calcutta, was one of Calcutta’s leading businessmen. ITC, a cigarette-to-restaurant conglomerate, is the most valuable company headquartered in the city. Goenka agreed with one of the responders to Goenka’s post who said it was mainly large steel companies that were engaged in this inflated profit activity.
