In recent times, the Indian financial sector witnessed a remarkable web series called “Scam 1992: The Harshad Mehta Story.” The series, based on true events, delves into the life of Harshad Mehta, a stockbroker who orchestrated one of the largest financial scams in Indian history. One of the highlights of this captivating series is the inclusion of a real interview with Harshad Mehta himself, shedding light on his perspective and the intricate details of the scandal. This article aims to delve into the fascinating aspects of the interview and provide an overview of Harshad Mehta’s story.
The Real Interview: The real interview featured in the series adds a layer of authenticity to the narrative, showcasing Harshad Mehta in his own words. The interview provides a glimpse into his rise from a humble background to becoming a prominent stockbroker in Mumbai’s financial hub. Played by Pratik Gandhi in the series, Mehta speaks about his journey, which began in the late 1980s when he recognized the potential of the stock market and the loopholes within the banking system.
Harshad Mehta’s Perspective: During the interview, Harshad Mehta sheds light on the concept of “the big bull” and how he adopted the role in the stock market trader. He explains his strategy of using ready forward (RF) deals to exploit the banking system’s inefficiencies, taking advantage of the lag between transactions and the subsequent demand for funds. This allowed him to manipulate stock prices and create an artificial bull run, earning massive profits.
Furthermore, Harshad Mehta discusses the infamous “stock market scam” that shook the nation in the early 1990s. He admits to orchestrating the scam but highlights his intention was never to harm the common man. Mehta claims that he believed in the market’s potential and wanted to make it accessible to everyone, including the middle class.
The Modus Operandi: Harshad Mehta reveals his modus operandi during the interview, explaining the intricacies of the scam. He emphasizes how he capitalized on the lack of regulations and the absence of a surveillance system in the Indian stock market at that time. Mehta manipulated the system by illegally diverting funds from banks and manipulating the stock prices of certain companies, such as ACC, Sterlite Industries, and Videocon, to name a few.
Mehta’s rise to prominence was accompanied by his flamboyant lifestyle, which he openly discusses during the interview. He talks about his penchant for luxury cars, expensive suits, and his extravagant penthouse. Harshad Mehta’s story became a symbol of rags-to-riches, showcasing the power and allure of wealth in Indian society.
The Aftermath: The interview also covers the aftermath of the scam, including Harshad Mehta’s arrest and subsequent legal battles. He shares his experiences in jail and expresses remorse for his actions, admitting that he crossed ethical boundaries in his pursuit of success.
Conclusion: The real interview with Harshad Mehta featured in “Scam 1992: The Harshad Mehta Story” offers a unique perspective on one of the most significant financial scams in India’s history. Through Mehta’s own words, viewers gain insights into his motives, strategies, and the impact of his actions on the Indian financial landscape. While the interview allows us to understand Harshad Mehta’s perspective, it also serves as a reminder of the importance of financial regulations and ethical conduct in the world of investing.