The Harshad Mehta's scandal & movie "Gafla"

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avi

avi

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I never knew there existed a movie on Harshad Mehta. If you have free time, then do watch it, it is a brilliant master piece !

I knew his scam of 4000 Crs. And what he did was :
  • Intraday Trading
  • Showed fake bonds within banks & diverted the funds
  • Kept on buying stocks of his favorite 10 companies, which resulted in higher stock price & sold them back. That is when market crashed

but after watching the movie, it gives an entirely different perspective on the scam. Totally different !! Can be also said how politicians, big guys & media turned into a scam.

So what exactly had happened ?

Movie :

[media]http://www.youtube.com/movie?v=mMDf845X4rI[/media]
 
avi said:
I never knew there existed a movie on Harshad Mehta. If you have free time, then do watch it, it is a brilliant master piece !

I knew his scam of 4000 Crs. And what he did was :
  • Intraday Trading
  • Showed fake bonds within banks & diverted the funds
  • Kept on buying stocks of his favorite 10 companies, which resulted in higher stock price & sold them back. That is when market crashed

but after watching the movie, it gives an entirely different perspective on the scam. Totally different !! Can be also said how politicians, big guys & media turned into a scam.

So what exactly had happened ?

Movie :

[media]http://www.youtube.com/movie?v=mMDf845X4rI[/media]
Click to expand...

I have watched this movie way back.

But somehow the movie fails to explain the main modus operandi except characters shown doing manipulation (but how actually its done) .

There is one more movie based on income tax scams and surveys that too you will love watching but direction being poor is Ek Dastak
 
^Nope ! No Songs & shit. really straight forward movie with brilliant direction. Just 2 hours !

MAGNeT said:
I have watched this movie way back.

But somehow the movie fails to explain the main modus operandi except characters shown doing manipulation (but how actually its done) .
Click to expand...

The movie gives a different perspective on the scam, like Harshad never did any scam & all he was trying to save the market. And they did show the modus operandi, but not how he cheated as we read in news papers.

Tagging neha - #Neo-N
 
avi said:
The movie gives a different perspective on the scam, like Harshad never did any scam & all he was trying to save the market. And they did show the modus operandi, but not how he cheated as we read in news papers.
Click to expand...

Well that might be case.But i guess the movie doesnt does justice as it tries to show him as hero and shows he never did anything wrong and it was just he was trying to maximise public return by getting money from public bank into strong fundamental stocks which isn't the case.

No doubt the movie is good ,the director also tried to add love angle but it isnt the true story.There is a book from sucheta dalal the person who exposed the scam in which detail about his modus operandi is given.

Right now it will be tough to understand because all physical mechanism during non demat period have been taken off.And the scam was basically about fake bank receipts which showed delivery of shares will be provided which wasn't there actually.

It was shown as if he was the hero who was made scapegoat of the system.
 
^yup, that's what my actual question is, was he actually trying to save market & was made a scapegoat of system Or he scammed ?

Sucheta Dalal's book's name is The Scam, from Harshad Mehta to Ketan Parekh", which also a good read.
 
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