Frauds in Indian Capital Market- A Study

Gangineni Dhanaiah () and Dr. R. Siva Ram Prasad ()
Additional contact information
Gangineni Dhanaiah: Ph.D. Research Scholar, Acharya Nagarjuna University, Guntur(A P)
Dr. R. Siva Ram Prasad: Head, Department of Commerce and Business Administration, Acharya Nagarjuna University, Guntur (A.P.)

Journal of Commerce and Trade, 2016, vol. 11, issue 2, 64-74

Abstract: India has witnessed major financial frauds almost every year since 1990s. There is well documented history of frauds in the financial markets starting from the (in)famous securities scam by Harshad Mehta (1992),MS Shoes (1995), CRBhansali(1996),Ketan Parikh Scam(2001),DSQ Software Scam (2001), IPO Demat Scam(2006),Vanishing Companies (2007),Satyam (2008), Home Trade (2010),Sahara India pariwar Investor fraud (2010), Home Trade(2010),ULIP Misselling(2011),Saradha Group Financial Scandal (2013), NSEL Scam (2013), PACL ponzi scheme scam(2014). Scams have led to regulatory reforms, forming new institutions and strengthening the institutional framework. This paper studies the role of stock exchanges and SEBI to protect investor interests and to promote fair and orderly securities markets. The study attempts to examine the role of SEBI by ensuring the integrity of markets by detecting market frauds on a proactive basis, investigating abusive, manipulative or illegal trading practices in Indian Securities Markets. The role of market surveillance in ensuring integrity of markets by enabling a safe and sound environment is further examined in this paper.

Keywords: SEBI; Market Integrity; Stock market fraud; Market surveillance (search for similar items in EconPapers)
JEL-codes: A0 C0 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.jctindia.org/index.php/jct/article/view/o16-gdrsrp (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jct:journl:v:11:y:2016:i:2:p:64-74

Access Statistics for this article

Journal of Commerce and Trade is currently edited by Dr. Himanshu Agarwal

More articles in Journal of Commerce and Trade from Society for Advanced Management Studies
Bibliographic data for series maintained by Dr. Himanshu Agarwal ().