(Scam 1992:- The Harshad Mehta Story)

Nowadays, the series (Scam 1992:- The Harshad Mehta Story) is high in demand. A web series titled ‘Scam 1992: The Harshad Mehta Story’ was released on the OTT platform Sony Liv. Harshad Shantilal Mehta got into a big controversy due to the scam in 1992 Bombay Stock Exchange and this web series is based on the same scam. This web series has also remained in the headlines as much as was discussed in this scam. Director Hansal Mehta has always been making films on stories inspired by true events and now he has brought the story of Harshad Mehta on screen.

What was the 1992 scam?
Harshad Mehta was called the Big Bull of the stock market and Amitabh Bachchan. In addition, articles about Harshad were also published in newspapers and magazines. Due to poor financial condition of the family, Harshad Mehta used to do many small and big things but then Harshad started a job in The New India Assurance Company.
It was during this job that Harshad Mehta’s interest in the stock market grew. After working for a few days, Harshad Mehta opened his company in 1981 and took membership as a broker on the Bombay Stock Exchange. There was a huge amount of transactions in the market for selling and buying shares and Harshad manipulated the banking system by holding weak links.
Banks used to take money by pledging government bonds when they needed it and this was done through middlemen. Harshad used to put money in the stock market by taking money from banks. The Times of India journalist Sucheta Dalal brought the truth of Big Bull Harshad Mehta. Sucheta came to know that Harshad Mehta used to take a 15-day loan from the bank and put it in the stock market. Also, within 15 days he used to return the money with profit to the bank.

When this matter came to light, the banking system was shaken and an inquiry committee was set up. The investigation of this case was handed over to the CBI. At that time this scandal was very big and the whole country was shaken. People were shocked when in 1993 Harshad Mehta accused former Prime Minister PV Narasimha Rao of taking a bribe of Rs 1 crore to save him from the case. Harshad Mehta had disclosed this in a press conference and his well-known lawyer in it was late. Ram Jethmalani gave it. Harshad Mehta was booked with 72 criminal cases and more than 600 civil cases and was arrested. Harshad Mehta died of a heart attack on 31 December 2001. Journalist Sucheta was awarded the Padma Shri Award in 2006 for exposing the scam.

One thought on “(Scam 1992:- The Harshad Mehta Story)

  • November 9, 2020 at 4:07 am
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    One of the best series. We’ve learnt so many things.

    Reply

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