Mundhra scandal

E239199

The Mundhra scandal was a major 1958 Indian financial and political scandal involving fraudulent share deals by businessman Haridas Mundhra that led to a parliamentary inquiry and the resignation of Finance Minister T. T. Krishnamachari.

All labels observed (2)

Label Occurrences
LIC–Mundhra scandal 1
Mundhra scandal canonical 1

How this entity was disambiguated

Statements (46)

Predicate Object
instanceOf financial scandal ⓘ
political scandal ⓘ
alsoKnownAs Haridas Mundhra scandal ⓘ
Mundhra scandal ⓘ
surface form: LIC–Mundhra scandal
charge fraudulent share transactions ⓘ
overvaluation of shares of Mundhra-controlled companies ⓘ
chronology occurred during the second Nehru ministry ⓘ
country India ⓘ
follows independence of India ⓘ
hasCause fraudulent investment of LIC funds in Mundhra-controlled companies ⓘ
hasEffect establishment of Chagla Commission of Inquiry ⓘ
loss of public confidence in government financial oversight ⓘ
resignation of Finance Minister T. T. Krishnamachari ⓘ
strengthening of parliamentary oversight of public financial institutions ⓘ
inquiryBy Justice M. C. Chagla Commission ⓘ
involves Life Insurance Corporation of India ⓘ
Ministry of Finance ⓘ
surface form: Ministry of Finance (India)

Parliament of India ⓘ
languageOfWorkOrName English ⓘ
Hindi ⓘ
location Mumbai ⓘ
surface form: Bombay

New Delhi, India ⓘ
surface form: New Delhi
mainSubject fraudulent share deals ⓘ
mediaCoverage Indian press ⓘ
natureOfAllegation conflict of interest ⓘ
misuse of public funds ⓘ
political corruption ⓘ
outcome political embarrassment for the Indian National Congress government ⓘ
recommendations for stricter control over public financial institutions ⓘ
participant Haridas Mundhra ⓘ
members of Lok Sabha ⓘ
officials of Life Insurance Corporation of India ⓘ
officials of Ministry of Finance (India) ⓘ
pointInTime 1958 ⓘ
relatedTo Life Insurance Corporation Act, 1956 ⓘ
corporate governance in India ⓘ
public sector investment policy in India ⓘ
significance early test of parliamentary accountability in India ⓘ
first major financial scandal of independent India involving a public sector institution ⓘ
significantPerson Feroze Gandhi ⓘ
Haridas Mundhra ⓘ
Jawaharlal Nehru ⓘ
Justice M. C. Chagla ⓘ
T. T. Krishnamachari ⓘ
timePeriod 1950s ⓘ
triggeredBy questions raised in Lok Sabha by Feroze Gandhi ⓘ

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

Mundhra scandal → alsoKnownAs → Mundhra scandal ⓘ
this entity surface form: LIC–Mundhra scandal