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The scam was dramatized in the 2020 web series Scam 1992, created by Hansal Mehta, with Pratik Gandhi and Shreya Dhanwanthary playing the roles of Harshad Mehta and Sucheta Dalal respectively. The series was adapted from journalist Sucheta Dalal and Debashish Basu's 1992 book The Scam: Who Won, who Lost, who Got Away. [28]
Harshad Shantilal Mehta (29 July 1954 – 31 December 2001) was an Indian stockbroker, businessman, and convicted fraudster. Mehta's involvement in the 1992 Indian securities scam (about ₹ 30,000 crore (equivalent to ₹ 2.3 trillion or US$27 billion in 2023)) led him to gain infamy for market manipulation .
There she investigated a number of cases that would eventually lead to her prominence in the fields of journalism and activism. These included the Harshad Mehta scam of 1992, the Enron scam, the Industrial Development Bank of India scam, the Ketan Parekh scam in 2001.
Harshad Mehta, committed fraud without bank receipts of ₹5 billion from State Bank of India and an individual scam of ₹14 billion using fake bank receipts. The Indian television series Scam 1992 is based on his life and fraudulent activity.
In 1992, while serving as Chairman & Managing Director of the National Housing Bank, the bank's exposure of over ₹ 1,000 crore worth of re-purchase option (repo) based security trades to Harshad Mehta came to light. [3] [4] Pherwani had been regarded as Mehta's mentor. [5] Consequently, Pherwani stepped down from NHB. [4]
After economic liberalization in India in 1991, the stock market saw a number of cycles of booms and busts, some related to scams such as those engineered by players such as Harshad Mehta and Ketan Parekh, some due to global events and a few due to circular trading, rigging of prices and the irrational exuberance of investors leading to bubbles ...
NSE co-location scam: 2010 [86] [87] [88] India: Fraud and Market manipulation Amir-Mansour Aria: 2011 IAO (audit organization) and other audit firms Iran: Business loans without putting any collateral and financial system Bank Saderat Iran: 2011 IAO (audit organization) and other audit firms Iran
The State Bank of India was involved in the scam and several allegations were made against Goiporia, who was the then chairman. [4] In Scam 1992: The Harshad Mehta Story, a documentary film chronicling the 1992 scam, the role of Goiporia was played by the Indian actor Vivek Vaswani. [5]