Scam 1992 Harshad Mehta Story | Review | Watch online here

Scam 1992 is the accused scam of Harshad Mehta Story. Harshad Mehta Story can be found out on book named “Scam 1992”. Considering it, Sony Liv has created a web series named “Scam 1992”.

The real Scam 1992 story

Harsha Mehta is from middle-classed Gujarat family. He was born on 29 July 1954, at Paneli Moti, Rajkot district. His childhood was well spent playing gully cricket. He was not much talent in school. His father had a textile business.

During the youth, he tried many business like in diamond, gold, etc. but couldn’t manage enough profit. He heard about rumors of share market and develops a huge interest on it. He stepped into share market as a clerical job in one of a brokerage firm. He got the concept and made profit selling much more shares and made his boss happy. This was the time of 1980’s.

Thinking of making profit, he started his own company “Grow More Research and Asset Management”. Soon he started trading and many other customers started using his services. He was making profit for himself and for his customers too. He advised customers to buy shares of certain company whose value is certain to rise. For this, he used to research much more. The rising profit and fame has resulted him to be called “Bachhan“/”Big Bull” of share market.

He entered into the market of securites deposit in banking sector. At the time, one bank used to buy securities from another bank via broker. The broker used to issue a bank receipt(BR) as a proof of securities bought to the seller. Here, Harshad Mehta as a broker issued fake BRs from small bank to the buyer and gets the cash into his personal account. He invested the cash in share market to raise the share value. In this process, he raised the value of Associated Cement Company (ACC) from 200 to 9000 which is extremely huge. This way he used to get commission from the share owning company too.

His business was going crazy due to which he built a paradise home with sophisticated facilities comprising expensive cars, golf ground inside home and many more.

Reveal of Scam 1992 by Sucheeta Dulal

This dark marketing technique was flashed out by a journalist from Times of India named Sucheeta Dulal and her colleague. This resulted in desbelief of Harsha Mehta among investors and hence the share market started to fall. He started losing his business and fell under debt with many charges. Sucheeta Dulal on the other hand side got Padmashree Award for her great work.

The then Prime Minister in Scam 1992

This case got enormous attention and the name of the then Prime Minister,Mr P.V. Narasimha Rao was also caught in this scam.  The Prime Minister was accused of getting 1 crore bribe as a party fund from Harshad Mehta. But it got much less attention.

End of Scam 1992 | Harshad Mehta’s Death

While he was in prison, he had a chest pain. He was admitted to hospital but couldn’t survive. He lived for just 47 years.Thus the real man behind Scam 1992 was demised. But the cases against him are still running in the court.

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