CBI begins tracing shares sold by Mehta, brothers

New Delhi, Dec 10: The CBI has begun tracing shares unlawfully sold by big bull Harshad Mehta and his two brothers through forged documents, agency sources said here on Monday.

To begin with, the CBI’s Bank Securities and Fraud Cell had started tracing the shares of blue-chip companies which would have fetched the big bull and his brothers a fortune. They said that the CBI had begun questioning several sub-brokers in Mumbai in connection with the alleged illegal sale of shares that runs into several hundred crore of rupees.

The investigating agency has been examining several sub-brokers who allegedly helped Harshad Mehta and his brothers in making the forged documents to facilitate the sale of shares, besides questioning some relatives of Harshad, in whose names the shares were fraudently sold.

The sources said that some more arrests were likely to take place soon as the questionings had revealed several bunglings committed by some sub-brokers during the sale of these shares, which actually stood attached to the government.

The CBI had arrested Harshad and his two brothers, Ashwin and Sudhir, in Mumbai on November 9 for sale of the shares in violation of a government order that all properties of the big bull stood attached. (PTI)