MUMBAI, Apr 1: In a fresh case concerning the multi-crore securities scam, CBI has filed a chargesheet against big bull Harshad Mehta and four others accusing them of hatching a conspiracy to cause wrongful loss of Rs 16.25 crore to State Bank of India Capital Markets.Filing the chargesheet on March 30 last before the special court of Justice S N Variava, CBI prayed for the issue of process against the accused.Besides Harshad Mehta, others listed in the chargesheet are his brother Sudhir Mehta, L V Sharma, manager of Growmore Research and Assets Management and C R L Narsimhan and Subramaniam Krishna Kumar, former assistant general manager and former manager respectively of SBI Capital Markets.It was the case of CBI that the accused conspired during 1992 to defraud SBI Capital Markets Ltd in Chennai by misusing its funds thereby committing criminal breach of trust.CBI alleged that Kumar and Narsimhan accepted funds to the tune of Rs 16.25 crore from certain constituents of SBI overseas branch in Chennaiand its corporate clients such as Hindustan Teleprinters Ltd (HTL) and Sundaram Finance Ltd promising fixed yield for a specified period.CBI alleged that these officials misused their position by corrupt means and placed the funds with the big bull in ready forward transactions concluded through Sharma who was the manager of Harshad Mehta owned firm "Growmore Research and Assets Management Ltd" without obtaining any securities.
