Who is Harshad Mehta and why was he arrested?
Harshad Mehta was arrested by the Central Bureau of Investigation (CBI) in November 1992, along with his brothers Ashwin and Sudhir, who masterminded and executed this scam together.
Did Rajnath Rao ever deny meeting broker Harshad Mehta?
While Rao denied the allegations, he never denied meeting the broker. New Delhi: Because of the new web series ‘Scam 1992’, the name Harshad Mehta has once again occupied some news headlines. The man who was responsible for one of India’s largest stock market scam and 1992 market crash is getting some attention again.
What happened to the Mehta case?
By November 1992, out of the 27 criminal cases filed against him, he was convicted in only four. Mehta was kept in Thane Jail where he died of cardiac arrest in 2001 at the age of 47. A lot of reforms were brought in after the scam came to light to make sure nobody else could manipulate the market ever again.
What did Harshad Mehta do to the banking industry?
What Harshad Mehta did here was that when a bank would request its securities or cash back he would rope in a third bank. And eventually a fourth bank so on and so forth. Instead of having just two banks involved, there were now multiple banks all connected by a web of RF deals.
Who is Sudhir Mehta?
Justice Shalini Phansalkar-Joshi, on November 25, convicted Harshad’s brother Sudhir Mehta, Harshad’s cousin and stock brother Deepak Mehta, the then NHB officials C RaviKumar and Suresh Babu, former SBI officer R Sitaraman and stock brother Atul Parekh.
Is Harshad Mehta series based on a true story?
The series is based on the rise and fall of the broker Harshad Mehta. Hansal Mehta has successfully adapted stories of real-life people in his films Shahid, Aligarh, Omerta and the web series Bose Dead/Alive.
How does Hansal Mehta relate to the aspirations of Harshad?
He said that he could relate to the aspirations of Harshad Mehta. Hansal Mehta further added that he grew with similar aspirations as the character in the series and wanted to achieve something in life, stating that he wanted to be known and grew up with people who also had similar aspirations.