Mehta was convicted by the Bombay High Court and the Supreme Court of India[4] for his part in a financial scandal valued at ₹100 billion (US$1.4 billion) which took place on the Bombay Stock Exchange (BSE). The scandal exposed the loopholes in the Indian banking system and the Bombay Stock Exchange (BSE) transaction system, and consequently the SEBI introduced new rules to cover those loopholes. He was on trial for 9 years, until he died at the end of 2001.[5][6]