A series based on real-life incidents, Scam 1992, The Harshad Mehta Story Sony Liv, has been making waves and garnering a lot of appreciation. In fact, it is said to be currently at No. 21 in the overall IMDB rankings. Scam 1992 IMDB rating is an impressive 9.6. So what is so extraordinary about the Harshad Mehta series? Why has Scam 1992 created such a buzz? For this, we need to delve deep into the plot and also the real-life incidents on which Scam 1992 is based on. Let us take a look at the plot and cast of Scam 1992, The Harshad Mehta Story. You may also want to check out our review of Serious Men.

Scam 1992 | The Harshad Mehta Story

Scam 1992 is a web series of 10 episodes that are streaming on Sony Liv. The series is the saga of Harshad Mehta who earned notoriety for the stock market scam that rocked India in the nineties. The series is adapted from a book, “The Scam: Who Won, Who Lost, Who Got Away.”, by Sucheta Dalal and Debashish Basu.

Why watch Scam 1992 – The Harshad Mehta Story on Sony Liv

The series Scam 1992 is set in the eighties and nineties and the action is in Bombay of those times. The focus is the Bombay Stock Exchange which is actually one of the crucial characters to the plot. In those days the stock market was controlled by a handful of brokers. In the pre-digital age, money markets and stock markets lacked basic transparency and had glaring loopholes that made it easy for people to exploit the system. In such a scenario, entered a young man from a lower-middle-class Gujarati family, with stars in his eyes, and ambition writ large on his face.

Scam 1992 – Who Was Harshad Mehta?

Harshad Mehta was a stockbroker who at the zenith of his career was hailed as the “Big Bull”, and as the “Amitabh Bacchan”, of the stock market. Born into a middle-class Gujarati family, Harshad Mehta learned the ropes of stockbroking as a ‘jobber’ at the Bombay Stock Exchange for a brokerage firm. He quickly learned the tricks of the trade and also the systemic faults that could be exploited to his advantage. He set up a firm called Grow More Research And Asset Management.

Harshad Mehta rose to the pinnacle along with the Sensex, he became a darling of the media which portrayed his flamboyant lifestyle and wealth that included a fleet of luxury cars including the famous, “Lexus”, as well as a lavish sea-facing 15000 Square Feet penthouse. But there were many who were wondering at the source of the colossal amounts of money being pumped into the stock market by Harshad Mehta.

The bubble burst and the stock market came crashing together. Harshad Mehta faced 27 criminal charges and was ultimately convicted of four. The allegations included massive manipulation of stocks that amounted to thousands of crores. It was alleged that many international and public sector banks, as well as powerful political heavyweights, were behind Harshad Mehta. However, Harshad Mehta died at the age of 47 while in jail and took many secrets to his grave.

Scam 1992 – The Plot

The plot traces the life of Harshad Mehta, from his humble beginnings in a small flat in Kandivali and traces his meteoric rise. It looks at the strategies he employs, his associates, and the people he hobnobs with. On another thread the plot also looks at the simple and middle-class values of the Mehta family and their inherent, ‘simplicity’, that is in stark contrast to Harshad Mehta’s later lifestyle.

The relationship between Harshad Mehta and his brother is dealt with in detail and poignantly, so too the relation of Harshad Mehta with his wife. Sucheta Dalal who was instrumental in exposing what was then labelled as the ‘Harshad Mehta Scam’, also plays a pivotal part in the plot. The plot delves deep into the intricacies and loopholes of the stock market and money market in those days.

The Cast

The series is directed by Hansal Mehta and Jai Mehta. The series is written by Saurav Dey, Sumit Purohit, Vaibhav Vishal, and Karan Vyas. The series is an adaptation of the book, “The Scam: Who Won, Who Lost, Who Got Away.”, by Sucheta Dalal and Debashish Basu.

• Pratik Gandhi as Harshad Mehta
• Shreya Dhanwanhary as Sucheta Dalal
• Hemant Kher as Ashwin Mehta ( Harshad’s Brother )
• Anjali Barot as Jyoti Mehta ( Harshad’s Wife )
• Chirag Vohra as Bhushan Bhatt
• K.K. Raina as M.J.Pherwani
• Ananth Mahadevan as S. Venkitaraman ( RBI Governor between 1990 to 1992 )
• Satish Kaushik as Manu Mundra
• Rajat Kapoor as CBI officer Madhavan
• Faisal Rashid as Debashish

The Trailer of Scam 1992

Our Thoughts

The web series is really engrossing and gripping, though in parts people who are not much aware of the financial markets may feel bogged down. However, overall the series has the attention of the viewer riveted, as it plunges along with the highs and lows of the Bombay Stock Exchange and the life of Harshad Mehta.

The script is taut and is ably supported by good performances from the cast. Pratik Gandhi as Harshad Mehta presents all the nuances of the character he is assaying very ably. Hemant Kher as the soft-spoken brother of Harshad Mehta is a perfect foil. The series is a must-watch as it chronicles the details of one of India’s biggest stock market scams. It also raises many unanswered questions which remain unanswered even today.

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