Scam 1992 - The Harshad Mehta Story -2020- S01 ... [better] 99%
Scam 1992 — The Harshad Mehta Story (2020) — Season 1
We know Harshad falls. History tells us that. But the show makes us wish he wouldn't.
Scam 1992 is not a glorification of a criminal. It is an autopsy of a society that worships wealth. Every time you see a finfluencer on Instagram promising 15% returns, or a YouTuber talking about "short-term gains," you are seeing a ghost of Harshad Mehta. Scam 1992 - The Harshad Mehta Story -2020- S01 ...
Episode 7 – "The Great Fall"
The scam is publicly exposed. Markets crash. Harshad is arrested. Banks face a liquidity crisis. Scam 1992 — The Harshad Mehta Story (2020)
Why You Should Watch (Or Rewatch) Season 1
Harshad drives the Sensex (Stock Market Index) from a few hundred points to nearly 4500. He lives a lavish lifestyle, owning fleets of cars, a sea-facing bungalow, and even a private golf course. He becomes a celebrity, with people treating him like a financial messiah. The Ready Forward Deals (Ready Forward): Banks would
- The Ready Forward Deals (Ready Forward): Banks would lend money to each other via corporate bonds. Harshad exploited a loophole in the banking system called "Ready Forward" (Repo) deals.
- Fake Bank Receipts (BRs): Harshad colluded with a few corrupt bankers. He would get a Bank Receipt (a guarantee of funds) from a bank without actually depositing any money. These BRs were essentially fake IOUs.
- Pumping Liquidity: Using these fake BRs, Harshad siphoned crores of rupees from the interbank lending system into the stock market. He borrowed money from Bank A to buy shares, which drove up the prices.
- The Pump and Dump: He focused on a few specific stocks (like Apollo Tyres, Sterlite, and Videocon), buying them in massive quantities. As prices skyrocketed, other investors (the herd) jumped in, fearing they’d miss the rally.
- Pledged Shares: Harshad would then pledge these inflated shares to banks for further loans, creating a vicious cycle of artificial wealth.
