Bombay High Court sentences 6 persons in Harshad Mehta scam
The court held that the case is grave in nature.
Mumbai: The Bombay high court on Monday while sentencing six persons, including Sudhir Mehta, brother of late Harshad Mehta — the alleged brain behind the 1992 multi-crore securities scam — rejected their plea for leniency, saying that none of them (except Ravikumar) spent even a day in jail in this case.
The court held that the case is grave in nature and it had serious repercussions on the economy of the country and despite the convicts having suffered for the past few years due to the pending trial, the court needed to strike a balance while awarding the sentence.
The division bench of Justice Dr Shalini Phansalkar-Joshi in her judgment convicted three bank officials — Coodli Ravikumar; S.S. Babu; R. Sitaraman — along with accused Atul Parekh, Sudhir Mehta and Deepak Mehta.