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Sunday, December 26, 2010

130 crore scam unearthened- broker Hiten Dalal convicted

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Stock broker Hiten Dalal and two former bank officials are convicted for siphoning off funds to the tune of Rs 130 crore from the bank in 1991. Justice J H Bhatia of the Bombay High Court, convicted and sentenced Dalal, R Dhankumar and S P Kamat, both former managers of Andhra Bank , to two years rigorous imprisonment last week.

It can be recalled that there are already 25 cases registered against Hiten Dalal, pity for indian markets as i don't think much would happen this time

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Posted by himanshu Sharma at 9:09 AM
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