Who is Harshad Mehta-who did the biggest stock market scam?

Harshad Mehta is an Indian stock market broker who came into the limelight after the Indian Stock Market Scam of 1992. His full name was Harshad Shantilal Mehta.

This scam is one of the biggest scams India has ever witnessed.

powerful people and politicians are involved in this scam and this scam even put their hands on the Prime Minister of India at that time.

Harshad Mehta Family Background

Harshad Mehta born on 29 July 1954 at Rajkot district Gujrat,he belongs to Jain family.His father is a Textile Businessman .

He did B.com from Lala Lajpatrai College Mumbai in 1976.

when he worked as a Sales man in New india Assurance company Limited he get to know about stock market and after few day he left his job and join a brokerage firm.

Harshad Mehta 1992 Scam Explained

In this article we are going to understand this Scam in simple language with simple term .As i know many of us are not aware of Stock market as well as banking terms.

What he did was, he found a loophole in our banking system, and with the help of his experience and power, he managed to manipulate the stock market.

what he did he take a loan from a bank to put this money in the stock market and promised the bank to return the money at a higher rate. but when his due date came he took another loan from another bank and fully filled his previous loan. So by doing what he does he manipulates the stock price. Harshad Mehta tries to hit small banks as there is an ease of resources in small banks for him. This explanation is just an overview and I tried to tell you the whole scam in simple language.

when he manipulates the stock market. what he did was against the rule of SEBI and RBI.

for example He took the price of ACC stock from Rs.200 to Rs 9000, an increase of 4400%.when the stock at 200 he put all his money which he borrowed from Bank and suddenly the prize of the share increase.

When the share reached the Rs9000 mark, he pulls out his money so he gets the maximum profit, and then shares of that particular company get back to its original amount (i.e. Rs 200). So what he did he pump the prize of shares with wrong methods.

ALLEGATION ON Harshad Mehta

First of all he charged with the fake pump and dump of share like ACC.

Second, what he did he used to make false Bank Receipt, and on the basis of this fake bank receipt he used to withdraw money from banks and put the money in the stock market instead of giving it to the Bank.

OUTBREAK OF 1992 HARSHAD MEHTA SCAM.

Sucheta Dalal Reveals the Mehta scam,she is a journalist she exposed this Scam on 23 April 1992.

After so many trials which ran for many years. Finally Harshad Mehta got punished and sent to prison for 5 years. But during his prison day, he feels light chest pain and admitted in hospital and later died at the age of 47 years on 31 December 2001.

NEW WEB SERIES AND MOVIE ON THIS SCAM

Bollywood is looking more interesting because he made an OTT web series called “SCAM OF 1992 ” and also the movie is in the process where Abhishek Bachan plays the Role of Harshad Mehta. You should definitely watch the OTT series as it is available at MX PLAYER.

candy which reminds you of your childhood(90s)

Poppins

Parle Poppins are colourful tangy fruity candies. Every candy in Poppins is differentiated by its colour and its unique fruit flavour. All you have to do is pop in the individual candy to get the individual fruit flavour.

Mango bite

When I was a child I always buy this and enjoy its wonderful Mango and we used to make the ring for the hand with the help of wrapper. i know it sound weird but most of the children did this.

Mango bite

Mostly called as ‘limelet ki goli’, they came in jars without any paper wrappings

And they are the medicine for vomit during bus journey (people lived in hilly area can make a reference).

Rol-a-cola

it had ‘cola’ in its name because it tasted like cola and I guess everyone has the memory of melting this candy in water bottle so we can get Coca-Cola and we can share with that with everyone.

Little Hearts

Yeah you are right they are shouldn’t in the category of candy but for us they are. we just to eat them like children eat Cadbury now days.

Coffe bite

They are called the cappuccino of our 90’s era.

Big Babool

This is a symbol of being cool at school but in front of yours parents this is a symbol of loafer.

Ha-ha remember we call them babul gum instead of their name

phantom Cigarettes

The chalky cigarettes were our way to pretend like adults. What a nostalgia! I still feel that while writing this article.

pan pasand

They are style of being a kanpuriya. Right now i don’t feel its taste like real pan but those were the days we assumed this to be the flavoured of pan.

Still I have those memories of our summer when we eat this and after that we drink water so the water feels cold.

Kismi

They just come for just 25 paise and how naughty we are at that time that we give this to someone and say kismi took a little pause then complete our sentence .

PLEASE COMMENT YOUR SWEET MEMORY YOU HAVE WHILE READING THIS ARTICLE.

School memories which reminds you of your childhood(90s)

here are some memories of our school time which we all have .lets take a look to our childhood things and see how many of this we can relate too.

Natraj geometry

Remember this the ultimate “geometry ” what we all pronounce.this is what our cricket bat sometime while playing cricket,some time it turn to be our fighting tools and sometime it will be our message exchange Application.

Shoes

they look old fashioned for the kids of this generation but remember all good old days when we used to wear them but we hate to polish them every day.


Milky pens

The magic pen we all used to decorate our notebook with this so we get a good grade.

Game played at the backside of the notebook.

This is our tombola for sure. Half of the notebook are filled with this games.

And they are the life saver for us. I know we can’t forget the laugh we had while playing this games they are terrible I am dam sure

 pencil we eat from the backside

I don’t know why we chewed this thing may be whether we are hungry or we are in depression (coz the burden of school).

When friend bring money he is your friend.

If one of your friend bring money to the school …oh god, he become Mr. Popular among his group circle and he remain the king until his money finished and after that he is again your kamina dost.

Friend birthday

Person has the power to do anything in the school for that particular day. for ex if teacher is going to punished the whole class it’s his best friend duty to tell the teacher “mam aaj iska birthday Hai”. And congrats my dear friend you are saved.

Plus, we had the memories where we go with our best friend to each and every class to distribute the toffees and yes we get more of it than anyone else.

Wondering in school

If you bored in class just simply make a simple excuse of going to washroom and roam over the school and we waste time by doing this so the period (not the lecture) is over.

The guys who make us laugh

Many of us are from the group “jo sabko hasayenge and teacher se panga lenge”.

Tomorrow bring your parents

This sentence is like nightmare for all of us. But some of us can dodge this fireball very well by using the method we called “next time mam ye pkka ni hoga”.

some memories which reminds you of your childhood(90s)

Video games

game

Our play station .It has around 1000 games and those are rare as hell.

some of us have but we played this for sure.This will surely bring back some memories of yours.

Thums-up

“Uncle bottle khol ke de do abhi vapas aa jaunga”. this is the phrase we all used to say.They come in various congeries but our favorite was thumps up.

Fruity

frooti

Its is very rare that people remind of this green box fruity because company later change the box color to yellow.This will surely bring back some memories of yours.

mp3 player

Mp3 player of our era.today kids don understand the struggle of solving the tangle cassette which stuck inside the player.

Piggy bank

Our mini bank ,we all collect coins from home always asked our parents to give some money so we can press the button so we can see the dog.

Chacha chaudri

The sherlock of our Era. remember how intelligent and clever he is.This will surely bring back some memories of yours.

Guru chela

This was more famous for this wrapper.On one side you get a face of a female on the other side we get a man face.this was just like a magic of us at that time

Galli cricket

TV shows which reminds you of your childhood(90s)

Legends of temple

Legends of the Hidden Temple is an American action-adventure TV game show that broadcast from 1993 to 1995 on Nickelodeon. Very few of us see this show but those who can they know it very well.

Takashi castle

This one was an epic. show every night we used to watch this. it was funny as well as

Shakti man

Our real super hero.

Bongo

A series which is like a hidden gem. don’t know how many of you remind of this show which come on DD national.

Boogie woogie

Only the tv show on dance. I guess this is the first reality show based on dance

Hum panch

Shows us the value of family and make us laugh at the same time

Indian idol

Only singing show which was there

Hatim

We all love this show. we don’t much care about graphic and all that stuff at that time.

Shaka la ka boom boom

We all had a wish to get that pencil. each night we had something in our mind to draw and fantasied.

The jungle book

This was something close to our hearts. we all know the title song of this “jungle jungle baat chaali h pta chla h “

cartoon which reminds you of your childhood(90s)

1. NARUTO   

Masashi Kishimoto the creator of naruto. It recounts to the narrative of Naruto uzumaki, a youthful ninja who looks to pick up acknowledgment from his friends and furthermore fantasies about turning into the hokage, the pioneer of his town.  

2.   POKEMON

After he turns 10, Ash Ketchum starts his journey as a POKEMON trainer with the dream of becoming a POKEMON master. But having overslept, he rushes to Professor Oak to realize that the only POKEMON left for him to have is a PIKACHU. 

3. Dragon Ball Z

Dragon Ball Z starts 5 years after the end of the Dragon Ball anime with Goku as a young adult. A humanoid named Raditz then arrives on Earth and tells him that he is Goku’s long-lost big brother and they are members of a nearly extinct extra-terrestrial race called the Saiyans.

Actually goku comes to earth to conquer but during a mission he get a injury on his head and he lost his memory

. Goku refuses to help Raditz complete the mission and chaos follow.

  4.  Duck Tales

Even though the show technically stopped airing in 1990, Indian kids got to enjoy it well into the early 2000s. And damn, it was so good and funny. And you all remember the iconic theme song, right? 

5.Teenage Mutant Ninja Turtles

Best freaking show ever, right? I mean, they practically made turtles cool. Leonardo, Raphael, Michaelangelo and Donatello were my freaking heroes growing up.

6.Samurai Jack

The samurai which beats evil .the darkest show we saw in our childhood .remember how he cut all his enemy with his sword and we all loved that.

7. Batman: The Animated Series

This is easily the best adaptation of Batman. The show sticks to the Dark Knight of the comics while showing relatable characters and making you empathise with the villains.

8 .Powerpuff Girls

This was probably the first and one of the only TV shows of the time that started teaching us about feminism.

Bubbles, Buttercup and Blossom were cute little girls who could be fierce warriors when the situation demanded.

9. Johnny Bravo

This is the story of Johny bravo the ultimate stylish guy on our television.

we never think why he have small legs .They make him weird but unique at the same time. hhahaahah how hard he tries to impress the girl but every time get an rejection.

For most of us, the show was our first taste of adult humour with pop culture references.

10. SWAT Kats: The Radical Squadron

After being discharged from the Enforcers, agents Jake ‘Razor’ Clawson and Chance ‘T-Bone’ now patrol Megakat City as the SWAT Kats, defending it against all its threats.

Their enemies include Dark Kat, the undead sorcerer Pastmaster, the evil genius Doctor Viper, and the robotic gangsters the Metallikats.

11. Recess

The series focussed on 6 elementary school students and their interactions with the other kids and teachers at the schoolyard during recess.

During this time, the students would form their own society, complete with governments and a class structure. The show was and still remains to be way ahead of its time.