Earlier this month, Jyoti, wife of former stock market ‘big bull’ Harshad Shantilal Mehta, and her family launched a website https://www.harshadmehta.in/ — to defend her late husband who died in police custody on 30th December 2001. Through this website, the widow of the late stock broker has claimed that her husband died due to medical negligence. She has also accused the system of ‘group punishment’ that she and other members of Harshad Mehta’s family have faced in last 30 years.

The aim was to publicly share the alleged harassment that she and her family have been facing from the Income Tax Department for nearly three decades after her husband’s death, while winning over 1,200 cases filed against her in various judicial fora.

Most of these cases are the result of the famous-near-Amar-scam of 1992, for which Harshad Mehta is an accused. What he did in 1992 was almost unimaginable.

Without the money to buy stock in the market, he made millions, and in the process raised the stock prices of some of the most prominent listed companies. He found loopholes in the system to clear the scam.

Simply put, a trader on the Bombay Stock Exchange (BSE) can place a buy order on Monday and square off the position between Tuesday and Thursday. Friday will usually be the settlement day, when the order is completed. Mehta rigged the securities market with the connivance of some banks and issued fake Bank Receipts (BRs) in connivance with some.

Click following links for more about family and associates of Harshad Mehta.

Scam 1992: The Harshad Mehta Story is predicated on then his lifetime

Here’s what Big Bull Harshad Mehta’s family is up to these days

Here’s what Big Bull Harshad Mehta’s son is up to these days

Here’s what Big Bull Harshad Mehta’s wife is up to these days

Here’s what Big Bull Harshad Mehta’s heroin Sucheta Dalal is up to these days

Here’s what Big Bull Harshad Mehta’s brother is up to these days

He used them to raise money from other banks to invest in the stock market. Banks would lend him money because they thought the receipts were backed by underlying government securities. In this way, he manipulated the stock market, amplifying it up to four times in a short period of time. The then Reserve Bank of India (RBI) deputy governor R. A committee headed by Janakiraman had estimated the size of the scam to be Rs 4,024 crore.

Had he been alive, he would have been 68 years old today. An unforgettable name Harshad Mehta’s name resonates with every new and young investor who enters the stock market. He had earned the famous nicknames ‘Big Bull’ and ‘Amitabh Bachchan’ of the stock market. He has a name that divides opinion: some still view him as the mastermind of the financial markets, while others later leave with Flotsam and Jetsam, viewing him as a scammer.

Born on 29 July 1954 in a middle-class Gujarati family in Paneli Moti village of Upleta tehsil of Rajkot district of Gujarat, Mehta spent his childhood in the suburbs of Borivali, Mumbai, where his father Shantilal Mehta ran a textile business. A few years later, his family moved to Raipur in Chhattisgarh before returning to Mumbai in the 1970s.

A cricket enthusiast, Mehta was part of his school cricket team in Raipur. He graduated in commerce from Mumbai’s Lala Lajpat Rai College in 1976 and then worked for a few years in various jobs – sometimes as a cement contractor or hosiery salesman. Other times as an insurance clerk or diamond sorter, and finally as a jobber. He obtained a stock broking license in 1984, later started his own brokerage firm named Grow More Research and Asset Management.

In just two years, Mehta was actively trading in the stock market. Till 1992, Mehta was one of the highest income taxpayers in India.

From where he was securing the money to invest in the shares, no one had a clue. Mehta took over the closed companies, pumped in cash and increased his shares in the market. His growing popularity in the markets began to attract media attention.

Mehta’s attraction grew to such an extent that investors blindly followed him-wherever he invested. Giants like Associated Cement Company Limited (ACC), Southern Petrochemical Industries Corporation, Videocon Industries and Apollo Tires were some of his best picks, which are relevant even in today’s stock market.

A stockbroker working in a firm that did business with Mehta, said on the condition of anonymity that Mehta managed to persuade financial institutions to buy shares on which he was bullish.

“Harshad had close links with the power corridor in Delhi and through that channel he could persuade a lot of banks and financial institutions to give money to invest in shares for immediate profit,” the broker said. At that time, banks were not allowed to invest directly in equity markets.

Mehta once famously said, “India is the turnaround scrip on the Global Stock Exchange. We are a product of a historic time.”

He was also shown by a television channel feeding peanuts to bears at the Mumbai Zoo, marking his victory over the stock market’s ‘bear cartel’ – a syndicate of banks and brokers that, according to Mehta, monopolized the market was. In an interview with India Today, Mehta called him “the prophet of the gloom”, whose sole aim was to eliminate him from the market. A bull market occurs when securities are rising, whereas a bear market occurs when securities are falling for a sustained period of time.

Harshad Mehta’s fall from grace

Noted journalist Sucheta Dalal, who cracked the bank security scam story, explained in her book The Scam: From Harshad Mehta to Ketan Parekh that the money Harshad Mehta acquired to pump into the stock markets was actually banks and financial institutions. came from.

And at the center of this scam was the State Bank of India (SBI), which colluded with Mehta and gave him a fund of Rs 500 crore. This is when Mehta did not have the credibility to repay it. According to Dalal, the Vigilance Department of SBI and its then chairman DN Ghosh had called Mehta to his office to recover the money.

SBI had raised the fund because Mehta had promised that he had bank receipts worth Rs 500 crore, backed by government securities, against which the money could be raised. Mehta took Rs 500 crore, invested it in stocks he wanted people to follow, thereby driving up the prices of that stock and making an immediate profit from the increase. He would have taken this profit and invested in more shares.

While Rs 500 crore was a transaction from SBI, the actual amount of money secured from banks and financial institutions was over Rs 4,000 crore.

Mehta’s alleged fraud could not remain a secret for long – the scam came to light in 1992 when SBI reported a shortfall in government securities. As a result of this disclosure, the stock exchange fell by a whopping 72 percent, and the market was in a bearish phase for two years.

Mehta was arrested by the Central Bureau of Investigation (CBI) on 9 November 1992 on charges of “misappropriating 2.8 million shares of around 90 companies” and was subsequently banned from trading. Mehta continued to say that he was being used as a “scapegoat to serve hidden purposes”, resulting in “hour-by-hour living”. Although he made a brief comeback as a stock market ‘guru’ in 1995, Mehta was jailed again in 1999. He died of heart failure in 2001, while still undergoing trials. Ironically, Sensex climbed 77 points on his death, says India Today – almost as a tribute.

The post The ‘scapegoat’ or the mastermind of the 1992 scam? Harshad Mehta’s fall from grace still haunts the family appeared first on The Daily Voice.

SCAM 1992 is a web series consisting of 10 episodes released on Sony Liv. Whereas The Big Bull is a film that released on 8 April 2021 on Disney + Hotstar.

As discussed above are the 10 episodes of the web series, it gives viewers a detailed view of financial fraud and covers the entire story of Harshad Mehta. However, as the film is short, it can only indicate the entire incident.

The character’s real names are not used in BIG BULL. Harshad Mehta’s name is Hemant Shah. Ashwin Mehta’s name is Soham Shah. etc.

Hansal Mehta considers comparison between SCAM 1992 and The Big Bull

The director of the web series, Mr. Hansal Mehta, shared his thoughts on the comparison. First the director said that the web series is based on a book written by Sucheta Dalal and Debashish Basu. “When they announced their film, they are already shooting. Our approach is different from his point of view. It was told that they have prepared the outline of the story and created narrative literature from it.” Director Hansal Mehta said.

It was asked if he had the permission of Harshad’s family, Hansal said, “No, we went by the book. But I know that the family will thank me for making this show. I am decoding the financial system for the audience. “

Hansal Mehta wrote “Please do not do comparative comparisons. There can be many stories on the same story. Every storyteller will have his own way and should be seen independent of the other. This film has many like my show. Talents are included. They did their best and they deserve your love. “

Abhishek Bachchan watched Scam (1992) last year and says he thoroughly enjoyed it. “I think it was just a great achievement from the whole team”.

Abhishek Bachchan played the role of The Big Bull Harshad Mehta while speaking to Bollywood Hungama. He said that many people were making comparisons between the two but it stopped after the trailer of The Big Bull surfaced. “We noticed that thankfully after our trailer came out, that conversation was severely stalled,” he said. I think the reason for this is that people have seen what we have created and realized that it is actually a very different approach.”

Click following links for more about family and associates of Harshad Mehta.

Scam 1992: The Harshad Mehta Story is predicated on then his lifetime

Here’s what Big Bull Harshad Mehta’s family is up to these days

Here’s what Big Bull Harshad Mehta’s son is up to these days

Here’s what Big Bull Harshad Mehta’s wife is up to these days

Here’s what Big Bull Harshad Mehta’s heroin Sucheta Dalal is up to these days

Here’s what Big Bull Harshad Mehta’s brother is up to these days

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Scam 1992: Sucheta Dalal role was a turning point for her career: Shreya Dhanwanthary

The post Here’s comparison of the web series SCAM 1992 vs THE BIG BULL appeared first on The Daily Voice.

Shreya Dhanwanthary, 29, plays the complex role of the journalist Sucheta Dalal in the Hansal Mehta-directed Scam 1992: The Harshad Mehta Scam story 1992.

When She did Ladies Room in TV miniseries, 2016 with Yash Raj Films became a big thing, and was critically acclaimed, too. But people didn’t put together that it was the same girl from a Samsung phone TV commercial and the lesbian rock chick from a Fastrack commercial.

She came in 2019 film Why Cheat India opposite Emraan Hashmi, a role in the much-talked-about Manoj Bajpayee-starrer web-series Family Man in 2019 but yes things shifted in a phenomenal way only since Scam 1992 was released on SonyLIVE says Hyderabad-born Dhanwanthary.

She performed on the stage from the age of four in school. A self-confessed bored, who gets all her information from books, the old-fashioned way, she would balance science and the performing arts. She started modeling while pursuing an engineering degree from the National Institute of Technology, Warangal, and to pay the bills in Mumbai, otherwise, she says, she was a useless model.

While juggling fashion weeks and advertisement shoots, she signed her first Telugu film Sneha Geetham in 2010, where she plays a college girl Shailu. The director held a statewide talent hunt, so she applied. It helped that the director Madhura Sreedhar Reddy was an alumnus of my college. She was inexperienced, didn’t even know how to apply make-up, says Dhanwanthary, who then signed the Telugu-film Josh but it was released in 2009, a year before Sneha.

Dhanwanthary had been waiting for a role like the one she played in Scam 1992. People had told her that everything the show was offering — the premise, the unknown cast, etc., a lesser-known streaming platform — would work against it.

She is so glad that Scam broke all those notions, debunking the myth that only a certain subject can work on the OTT spectrum, or what a star cast needs to look like, says Dhanwanthary, who will next be seen in the web-series Family Man Season 2 and Mumbai Diaries 26/11 on Prime Video.

Click following links for more about family and associates of Harshad Mehta.

Scam 1992: The Harshad Mehta Story is predicated on then his lifetime

Here’s what Big Bull Harshad Mehta’s family is up to these days

Here’s what Big Bull Harshad Mehta’s son is up to these days

Here’s what Big Bull Harshad Mehta’s wife is up to these days

Here’s what Big Bull Harshad Mehta’s heroin Sucheta Dalal is up to these days

Here’s what Big Bull Harshad Mehta’s brother is up to these days

The post Scam 1992: Sucheta Dalal role was a turning point for her career: Shreya Dhanwanthary appeared first on The Daily Voice.

Although it’s an adaption of the book ‘The Scam: Who Won, Who Lost, Who Got Away,’ penned by Sucheta Dalal and her husband, Debashish Basu, we can’t forget that it had been actually the previous who first broke the news of the fraud. Curious to understand where she is now? we’ve got you covered.

Who Is Sucheta Dalal? Sucheta Dalal may be a journalist and author who has built her reputation from insightful analysis, high research, and groundbreaking news stories. She obtained a Bachelor’s of Science degree in Statistics from Karnataka College, following which she earned a graduate and post-graduate degree in Law from Bombay University. Subsequently, in 1984, Sucheta began her career in journalism by landing employment with Fortune India, an investment magazine.

Later, she went on to figure in news companies like Business Standard and therefore the Economic Times before becoming the Financial Editor for the days of India. While she held this last position, she broke the news about the Indian financial scam, which led to a CBI probe and ultimately resulted within the arrest of Harshad Mehta.

For over 25 years, Sucheta Dalal has been making headlines, quite literally, that affect India and its people on a day to day. Her areas of journalism include a vide variety – capital market, consumer issues, investor-related problems, and therefore the infrastructure sector.

However, it’s still her numerous investigative pieces that are the foremost notable. We should always also mention that, over the years, Sucheta has been conferred the distinguished Padma Shri Award, the Chameli Devi Award instituted by the Media Foundation, and Femina’s Woman of Substance Award for her zealous add journalism and every one that she has achieved within the field.

Today, Sucheta Dalal works as a Consulting Editor for MoneyLIFE, which is a web magazine that functions because the primary source for news and opinions on personal finance, banking, and industry sectors in India. She also features a usual column with various publications, including the Dainik Hindustan; where she shares her views on the stock exchange to assist civilians invest better. Consistent with her Twitter profile, Sucheta is an activist and a trustee of Money LIFE also. And as if all this isn’t enough, she takes a lively interest in consumer and investor-related issues also, protecting commoners from frauds and wrongdoings.

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‘Scam 1992’ wins Best Drama Series award at Asian Academy Creative Awards

For the latter, Sucheta has been a member of the govt found out Investor Protection and Education Fund and therefore the Primary Market Advisory Committee of the Securities and Exchange Board of India. And currently, she is a lively trustee of 1 of the most important consumer and investor protection, promotion, and advocacy groups in India, Consumer Education and Research Centre of Ahmedabad. Sucheta is also a member of Bank of Baroda’s committee for consumer services and a member of the Advertising Standards Council of India’s (ASCI) Advertising Standards Council of India’s (CCC).

Also read in hindi

यहाँ क्यों सुचेता दलाल, हर्षद मेहता घोटाले की मुख्य नायिका है

Click following links for more about family and associates of Harshad Mehta.

Scam 1992: The Harshad Mehta Story is predicated on then his lifetime

Here’s what Big Bull Harshad Mehta’s family is up to these days

Here’s what Big Bull Harshad Mehta’s son is up to these days

Here’s what Big Bull Harshad Mehta’s wife is up to these days

Here’s what Big Bull Harshad Mehta’s heroin Sucheta Dalal is up to these days

Here’s what Big Bull Harshad Mehta’s brother is up to these days

Here’s what Big Bull Harshad Mehta’s brother is up to these days

The post Sucheta Dalal, the Main Heroin Of The Harshad Mehta Scam appeared first on The Daily Voice.