Harshad Mehta was the king of the stock markets in the early 1990s and his popularity can be gauged from the names he was given. From Amitabh Bachchan of the stock market to the Big Bull , he was no less than a star for his clients and investors.
With the revelation that he might have duped the State Bank of India of ₹500 crore, things changed for him.
While Sony Liv’s show Scam 1992 gives us a detailed account of the financial fraud and its aftermath, Harshad Mehta’s interview to Pritish Nandy tells his side of story.
We watched the entire 8-part series of his interview with Harshad Mehta, where the stock market tycoon talked about the scam, the system and its impact on him and his family.
At that time, millions of people placed their trust in Harshad and invested their savings in the stock market. After the scam was exposed, not only did the market fall but so did people’s confidence in him.
When Pritish Nandy asked Harshad if he could build that confidence again, he talked about all the efforts he had been putting to communicate with the banks and financial authorities so that nobody suffered losses because of him.
He always reiterated the fact that he had paid off all his investors and clients.
From the beginning of the investigation till the end, Harshad insisted that the way this case was dealt with was discriminatory. When asked if he was discriminated against, he mentioned how his family was also involved in the entire thing.
Harshad’s term in jail was unique in so many ways. From months in jail and endless court proceedings to the torture meted out to him by the CBI, he spoke about it all to Nandy.
The Sony Liv series Scam 1992 gave us a glimpse of how common people considered Harshad their hero. He not only gave them employment, but also helped them whenever needed.
When Pritish asked Harshad how it felt becoming a public villain from being everyone’s hero, he requested people to not take him to that pedestal.
Spilling the beans on the irregualrities and corruption prevalent in our system, both financial and political, Harshad claimed that it’s the entire business.
Media played a major role in exposing the entire scam and according to Harshad, nobody knew the truth and he was victimised by unnecessary media intervention.
Harshad was the undisputed king of the stock markets. He took risks and made calculated investments. He understood the market like no one else.
So, naturally when Nandy asked him about the future of the Indian stock markets, he saw immense potential.
You can watch Scam 1992 on Sony Liv for more details and listen to the entire Pritish Nandy’s interview here.