The original Big Bull of the stock market Harshad Mehta who perpetrated the biggest stock market scam worth 4000 crore ₹ is in the news again. In good news for his family, the ITAT reversed an order of the Income Tax Department and scrapped additions to income worth little over 2000 crore ₹ and have made relevant observations. The RBI under its new and accommodating governor Shaktikanta Das, after cutting benchmark interest rates to 6.25%, has transferred 28,000 crore ₹ as interim dividend to the government which will help meet its revised fiscal deficit target of 3.4% of GDP. The SFIO has alleged that it discovered a trail of 2000 crore ₹ worth of funds diverted from Fortis and Religare – firms controlled by billionaire brothers Malvinder and Shivinder Singh to companies controlled by their spiritual guru Gurinder Singh Dhillon and former associate Sanjay Godhwani.
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