Scam 1992: The Harshad Mehta Story is a critically acclaimed Indian web series based on the 1992 Indian stock market scam orchestrated by stockbroker Harshad Mehta. Adapted from the book The Scam: Who Won, Who Lost, Who Got Away by Debashis Basu and Sucheta Dalal, the series delves into the rise and fall of Harshad Mehta, who manipulated the stock market using financial loopholes.

Set in the 1980s and 1990s, it chronicles his journey from a middle-class Gujarati man to a wealthy and influential stockbroker, uncovering his audacious strategies and the subsequent investigation led by journalist Sucheta Dalal. The show highlights themes of ambition, greed, systemic corruption, and the repercussions of Mehta’s actions on the financial world and common investors.

Series Overview:

Genre: Biography, Crime, Drama, Thriller

No. of Seasons: 1

No. of Episodes: 10

Original Release: October 9, 2020 (India)

Plot:

The plot of Scam 1992: The Harshad Mehta Story follows the meteoric rise and dramatic fall of Harshad Mehta, a stockbroker who manipulates the Indian stock market in the late 1980s and early 1990s. Here’s a breakdown:

  1. Rise of Harshad Mehta: Harshad Mehta, a middle-class Gujarati man, starts as a small-time broker in the Bombay Stock Exchange (BSE). He gradually discovers loopholes in the banking and stock market systems, which he exploits to inflate stock prices and amass immense wealth. His confidence, risk-taking attitude, and charm earn him the title of “The Big Bull.”
  2. Success and Fame: Harshad’s manipulations bring unprecedented success, making him a symbol of financial prosperity. He lives a lavish lifestyle, earning admiration and envy. However, his activities attract suspicion from journalists and competitors.
  3. The Unraveling: Investigative journalist Sucheta Dalal begins digging into Harshad’s deals after observing anomalies in his transactions. Her investigation reveals Harshad’s misuse of public sector banks’ funds to manipulate the stock market.
  4. The Scam Exposed: Harshad’s financial empire crumbles when his fraudulent practices are exposed. The government, regulators, and media launch investigations, revealing a scam worth ₹5,000 crores, causing a stock market crash and shaking the Indian economy.
  5. Fall and Aftermath: Harshad is arrested, and his trial becomes a spectacle. Despite defending his actions as part of systemic flaws, he faces legal consequences. The series also examines the larger issues of corruption and the flawed financial system that enabled his rise.
  6. Legacy: The series ends by showcasing the lasting impact of the scam, including reforms in the stock market and banking systems. It raises questions about ethics, ambition, and systemic accountability.

Through its intricate storytelling, the series provides a gripping portrayal of ambition, greed, and the price of unchecked power.

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