Harshad Mehta and Ketan Parekh Stock Market Scam

Satyam computer services was founded as an information technology services company which provided numerous IT services as software development, application integration, consulting and enterprise business solutions, engineering design support, e-commerce and consulting. 

It was incorporated as a private limited company in 1987 by Ramalinga Raju along with his brother-in-law Rama Raju, with two offices in AP and one in Bangalore. 

The scam had adverse effects on many people who were inadvertently involved. Harshad Mehta was an intelligent broker who knew the exact loopholes of the Indian economy and the banking system.

The term securities scam refers to  diversion of funds to the over 3,500 crore from the banking system to  various stockbrokers in a series of transactions during the period April 1991 to May 1992.

So Mehta and Parekh have been compared by people to have operated their scams using similar means and that their background were similar as well.