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: Overview:
The task is to order prominent Indian financial scams chronologically by their public disclosure date.
Step 2: Timeline:
Here's when each scam was revealed:

A. Harshad Mehta Scam: Exposed in 1992, this involved stock market manipulation.
D. Ketan Parekh Scam: Uncovered in 2001, a stock market scam by a Harshad Mehta associate.
B. Satyam Scam: This corporate fraud, involving account manipulation, came to light in January 2009.
C. PNB Nirav Modi Scam: Publicly known in early 2018, this was a large fraud using fraudulent Letters of Undertaking at Punjab National Bank.
Step 3: Solution:
The chronological order of the scams, based on exposure year:
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: A, D, B, C.