Summary of the case
The 176-point sensexcrash on March1,2001 came as amajor shock for the Govt, the stock markets and theinvestors alike.
The stock market was highly volatile.
The scam shook the investors confidence regarding theshare markets.
Arrest of BOMBAY BULL on March30,2001 was followedby another sensexfall by 147 pts.
He was charged with defrauding BOI of about $30 million.
PNB and SBI were also at the receiving ends.
MadhavapuraMercantile Cooperation Bank was alsohighlighted.