SCAM 1992 (THE HARSHAD MEHTA STORY)

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Scam 1992 web series is based on fraud of 1992 in India stock market. This web series is written by Harshal Mehta it consist of 10 episode. In this web series is about the story of 90’s biggest fraudster Harshad Mehta.

Big Bull

 In 90’s Harshad Mehta known as the king of the stock market. People called him various names “THE BIG BULL” AND Amitabh Bachchan of stock market. The very famous fact about Harshad Mehta the share that he touch would turned in to gold. Harshad Mehta scam was 5000 crores which is one of the biggest scam of India stock market

Big Bull

Spoiler Alert

Harshad Mehta belongs from a poor Gujrati family his father named shanti lal Mehta was a flop businessman. Harshad did so many jobs in 8 years but his luck turnaround after join the New India Assurance Company as a sales person from where he first got interested to the stock market. He identified that this was the game he was born to play.

Harshad Mehta resigned his job and joined the brokerage firm in 1981. He quickly learned so many things in’s and out’s in a very short time and make connections and started his trading account. But after the loss of 10 lakh rupees Harshad Mehta didn’t stop because his dream was big. He started his brokerage firm with his brother Ashvin Mehta called grow more research and asset management. Harshad Mehta got great success from stock market but he had bigger ambitions so he decided to enter in the money market.

Harshad identified loopholes in banking system of India. Week banks borrow the govt bond from the strong bank and in return they paid some interest. Banks transactions does not directly between the strong and weak banks. Week bank borrow the govt bond through brokers and one of them was Harshad Mehta. Harshad Mehta approach week banks and tell them that he would give the govt bond they needed and for getting them those bonds bank would write a personal check of his name. Mehta approach strong bank for govt bond and promise them a good return. There are 7 days’ time to submit the bank receipt that you borrow from the weak banks and submit it to strong bank.  During that time the massive cash in his account Mehta making money through funneling that money in to the stock market. 


He would pick the select share of companies and kept buying those share aggressively. This massive liquidity injection the share price of stock would go up and because of that so many investors buying those shares in anticipation of more movement. This would raise the price of share even higher. He was dealing so many banks and very good in rotating the money. And when the stocks pull up a lot he liquid it his money from stock market.  Harshad borrow 500 crores from state bank of India and funneling that money in to stock market. And didn’t give them Bank receipt even after seven days. 

This news was leaked and it published by sucheta Dalal in The Times of India. This was the beginning of BIG BULL end. Senior official got alerted and landing banks begin ask for money. This is not a big deal for Harshad Mehta he would sell the shares in market and fulfill his obligation but this time scandal is broke market started crashing. And value of Mehta’s share drop.


 

No way for repaying those banks. Many higher official lost their jobs. Thousands of investors lost their money. Harshad Mehta got arrested by CBI and later died by heart failure.

Good or Bad:

The script was very well written by Hansel Mehta without any vulgarity, abuse. In this web series you see the old Bombay when everything was handwritten including bank financial entries instead of using computers. The whole cast is good but specially  Pratik Gandhi who played role of Harshad Mehta in web series is amazing and do justice with his role. To watch this series you will know the Harshad Mehta side of the story and the bonding of two brothers to face up’s and down’s. Personally after watching this series I became fan of Harshad Mehta. He was a master mind. He was the risk taker. The repeated line of web series “ Risk hai to ishq hai!” 

Dialogues 5/5

Music 5/5

Screen play 4/5

Total Rating 9/10 (Highly recommended):

Final Thoughts:

Harshad Mehta never left India and never cheated investors. He lived very luxurious life and never shy to show off his wealth. He tried to give more profit to his investor but dirty politics destroyed his life. A lot of people involved to destroy him because he got success in a very short time. He was the simple man. . In his last press conference he told he gave 1 crore rupees to prime minister but later it didn’t prove.


 Harshad Mehta told sucheta Dalal “I wish I get a chance to give to a interview but before taking my interview do get to know me”.  Because everyone think that he is the one and only fraudster and use the word of scam. Everyone doing the same scam but they didn’t make money in very short money that’s why nobody or sucheta Dalal notice them.  

One thing which is to be focused  richer getting richest no one cares  if a middle class man get some extraordinary things done whole world will start finding his wrong side no matter how logical his theories are. That sucheta Dalal source was doing same thing but she never exposed him but she was behind Harshad Mehta for no reason. Harshad Mehta has been discriminated by investing authorities. If Harshad Mehta left India like everyone does Vijay mallya  then maybe he would survive but he was simple man he stay and paid all the dues and that alone is enough to call him a man of integrity.  

 

 

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