Scam 1992: The Harshad Mehta Story Season 01 Episode 03 Story Explanation In English

At the end of Episode 02 we have seen Manu Mundra was trying to throw Harshad reputation and his name. But before that Harshad already clear his all due, cheque, payment, and all to save his name & reputation in share market.How big are the Harshad dream? Is it enough for Hrashad or does he want to grow more and more? Hence to know all about that read Scam 1992: The Harshad Mehta Story Season 01 Episode 03 Story Explanation.

Scam 1992: The Harshad Mehta Story Season 01 Episode 03 Story Explanation

”Paise Ki Dukan”

Sucheta – In the crash of 1986, Harshad had managed to save his reputation. But he had begun to realise that dipping into one’s own pocket, was not the way to run a large scale business. To scale up he needed big funds. Consequently Harshad started knocking at the door of finanacial institutions & there was only man who could open this door completely. The chairmen of the unit trust of india, Mr.M.J.Pherwani.

”Harshad & Ashwin meeting with M.J.Pherwani”

  • M.J.Pherwani – Do you know what is the most valuable thing in the world? This is trust. So tell me why should i trust you? 13 months and 10days ago a few of my Vam Organic shares landed up in someone’s hands. Owing to a simple clerical mistake, my office tried to contact them. But do you know what they did? They used to this clerical mistake to their advantage and sold those shares & I know you sold that shares.
  • Harshad – Sir! There is some big misunderstanding.
  • M.J.Pherwani – I do business with people whom i can trust. No trust then no business.
Scam 1992: The Harshad Mehta Story Season 01 Episode 03 Story

In the next scene Harshad meets with Ajay Kedia in one party. Harshad try to talk with him but Ajay is showing attitude to him and he ignored Harshad.

  • Then Harshad tells to Prnav – Who the hell is this Kedia? What’s with his attitude?
  • Prnav – Off course he has an attitude. He practically owns the share market, he comes from a family traders, he manage four company simultaneously. One foot in the money market and other in the share market.
  • Instantly Harshad got the idea’s to come in money market. He tells his brother Ashwin and his all employees about money market.

”Harshad Next Target In Money Market”

For enter in money market Harshad fixed his meeting with K.S.Tyagi. He handles all money market deals and worked in citibank. He fix the money bank broker in citibank.

  • K.S.Tyagi –I already have my existing set of brokers. Then why should i work with somebody new? Top brokers from the stock marklet want to enter it, but they cant because of pedigree. There is no place for new people in this market. You shouldn’t try either.
  • Harshad – Thank you for your advice sir. Harshad get disappointment from here,

Next day Harshad meets with treasury chief- Mr.Niraj Chopra. Then Harshad suceed to convence Niraj and tells him please show the path. Just tell me where to start, my time, my effort, and you have nothing to lose.

  • Niraj – I have many contacts at Grindlays. So Grindlays is on the look out for money market brokers and they dont want anyone from the citibank cartel.
  • Harshad – I think citibank throws birdseed and like a sparrow every bank begins pecking on it, thats too alone.So its easy to get trapped.
  • Niraj – What’s your plan?
  • Harshad – The plan is, it’s time for all banks to come together. Once we unite we can achieve big things.
  • Niraj – Let’s do it.

In the next scene Harshad deals with SBI bank, because if he want to fight with citibank ,he need first to work with emperor bank of india. The senior officer of SBI Mr.Khemani get ready to business with Harshad.

”Sucheta” Scam 1992: The Harshad Mehta Story Season 01 Episode 03 Story Explanation

The bull was back in BSE & his first target was on ACC. The bears were distroying ACC but they didn’t have even the slightest hint, that this time Harshad didn’t just have money he had whole market of wealth. By rotating banking funds in the share market he was making so much profit. That he begun making money market deals at lower commissions, bank were getting the best deals & Harshad was making more and more profit.

By the end of 1990, India was heading towards an economic crisis. The RBI governer knew banks will plays a pivotal role in india’s economic revival. But the RBI had also begun to notice irregularities in the security dealing with the banks.

  • S. Venkitaramanan

He is the Governor of Reserve Bank of India (RBI). S.Venkitaramanan announce talk to the departments of all these bank United bank of india, Canara bank, Bank of baroda, Bank of india, Indian bank, i want security departments of all theses banks. Throughly checked and inspected.

Scam 1992: The Harshad Mehta Story Season 01 Episode 03 Story


Now Harshad had such a source of money which nobody could have imagined. Not just ONJC, But huge public sector units like COAL india, NHPC, NTPC, &IRFC money. Started getting invested in the bank PMSs directly and indirectly, in the share market. Consequently Harshad was fast becoming a market legend. One signal from him, and the tide would turn in the market.

In the next scene Harshad purchased a luxurious car at price of 55lakh.

  • Ashwin – We already have 15 -20cars.But what good will a car do?
  • Harshad – A lot. Money attracts money. People must know that the Mehta’s are no less than Ambanis or Tata’s.

And Then The Episode End’s Here.