UBS Securities and Black Monday

Indian stock markets are crossing all time records from time to time and still chasing the new records. This is alluring the retail and institutional investors (Indian and Foreign) and at the same time giving scope for scamsters to be directly or indirectly active making SEBI to be more attentive and alert on the volatility and volumes of trading in Indian stock markets. The role of SEBI in handling the market volatility and tracing the culprits is still vague as it was evident in the case of UBS Securities Ltd, Asia and 17^th May, 2004. This case study focuses on the facts of that black Monday and gives scope for discussion on probable questions which are unanswered.