Question

Arrange the following scams from the earliest to latest, as they were brought to the knowledge of public.
A. Harshad Mehta Scam
B. Satyam Scam
C. PNB Nirav Modi Scam
D. Ketan Parekh Scam
Choose the correct answer from the options given below:

• A. A, B, C, D
• B. A, C, B, D
• C. A, D, B, C
• D. C, B, D, A

Hint:

Associate these major scams with their respective time periods: Harshad Mehta with the early 90s economic liberalization, Ketan Parekh with the dot-com boom of the early 2000s, Satyam with the late 2000s corporate world, and PNB with recent banking frauds.

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
The question requires arranging some of India's most well-known financial scams in the chronological order of their public exposure.
Step 2: Detailed Explanation:
Let's establish the year each scam came to light:

A. Harshad Mehta Scam: This was a major stock market manipulation scam that was exposed in 1992.
D. Ketan Parekh Scam: This was another significant stock market scam, orchestrated by a protege of Harshad Mehta, which was unearthed in 2001.
B. Satyam Scam: This was a corporate fraud involving the manipulation of company accounts by its founder. The scandal broke in January 2009.
C. PNB Nirav Modi Scam: This was a large-scale fraud involving the issuance of fraudulent Letters of Undertaking at Punjab National Bank. It came to public attention in early 2018.
Step 3: Final Answer:
Arranging these scams from the earliest to the latest based on the year of exposure:
1. Harshad Mehta Scam (1992) $\rightarrow$ A
2. Ketan Parekh Scam (2001) $\rightarrow$ D
3. Satyam Scam (2009) $\rightarrow$ B
4. PNB Nirav Modi Scam (2018) $\rightarrow$ C
The correct sequence is A, D, B, C.