I really don't remember. The key point of interest is whether a scam similar to Harshad Mehta scam could recur! Since he had to book profits in the end, the day he sold was the day when the markets crashed.. Okay, call him. Don't drag his name just because he was not happy with you,the way you handled Bofors. Talk in a language that they'll understand. You got that? 'I just want you to stay away from this investigation.' In 1991, between 2nd and 4th November, you made some large withdrawals. In this settlement process, the buyer and the seller might not even know whom they had traded with, either being known only to the broker. Once you are out, we'll deal with everyone. [Swami] 'And one more important thing.' I am. Especially yours. If you've understood,Start talking. We brought the Digital equipment corporation to this country. That's not true. You can check all the papers and ask me anything you like. How? You're a p**p. You and your boss have turned the market into a br***el. A homemade gun. We didn't know this war would drag on for so long,that the PMO would enter the battlefield. Let me ward off the evil eye. In writing? Slow down, sir? This went on as long as the stock prices kept going up, and no one had a clue about Mehta's operations. Nayanika's camera is in place. If you remember, sir, we ran full page pro India advertisements. A typical ready forward deal involved two banks brought together by a broker in lieu of a commission. Did I ever say Gaitonde was my friend? Hari Om. Is this Mr. Jethmalani's idea? I don't understand why being successful is such a crime here. Whenever I call Swami ji, his disciples say he is meditating. But only if I'm exonerated from all the charges. He is a confectioner. I'm sure you all are very learned men. This resulted in stocks like ACC (which was trading in 1991 for ₹200/share) to nearly ₹9,000 in just 3 months.. Why did you let him speak? Now, they will regularly raid us. Sometimes, I feel like I am God. What the f**k is Ilu Ilu? Have you ever had water there? [doorbell ringing] Come in. Sir, it's time for your hearing. Truth. You could've called. No. But let me assure you, sir,that none of our PMS clients or our regular customers have lost any money. [Madhavan] 'Look at his face. [CBI Attorney] 'Yes, sir.' Kiran? It's impossible to give anything in writing. Those foolish lawyers who call themselves barristers,and don't even know how to wear a coat properly,Why did you have to go to them? On 23 April 1992, journalist Sucheta Dalal exposed illegal methods in a column in The Times of India. [Madhavan] 'Right?' I hope you haven't forgotten our office. I had to tell someone,Why me? Let us get straight to the point. And sir, one more thing. Once it's out,the CBI will have to investigate. Look at the state of this place. The transaction between banks i.e. Having figured this out, Mehta needed banks, which could issue fake BRs, or BRs not backed by any government securities. Yes. Every time I step out, they harass me for money. I'm not the ass who will listen to a parrot. Thank you. We had a video camera, didn't we? Or, you know that we can make the connection. Just how big was Mehta? We have never flouted a single rule. Take care of yourse,Based on a statement made by a criminal or an accused,CBI will question the Prime Minister of this country,would that be appropriate? The money due to the bank was returned. Relax. Let's just look at our Indian money markets. This is a financial scam! It began with one man: Harshad Mehta. [CBI officer] 'Okay, sir. Let's move. What do you mean by that? Ma'am, what's going on? That journalist,Sucheta,Sucheta Dalal. Bhushan Bhatt,will not go against Harshad. Get a towel. So, you're going to raid 7 RCR now? [Das] 'Yes.' You piss wherever you like. They are pressurising him to confess. He knew that he would be accused if people came to know about his involvement in issuing cheques to Mehta. I'll see how you can be helped. A trader or a businessman can easily fall into them.  Some of the people who worked in his firm included Ketan Parekh, who later would be involved in his own replicate scam. At least, ask the right questions. He couldn't have escaped. Come on, everybody. Harshad Mehta started using that money and started investing in a selected stocks & rigging the market. The price of shares in the cement company eventually rose from ₹200 to nearly ₹9,000 due to a massive spate of buying from a set of brokers including Mehta. Bhushan ji, you're not a goon. Mishra ji, what's the right question these days? , In criminal indictments later brought by the authorities, it was alleged that Mehta and his associates then undertook a much broader scheme, which resulted in manipulating the rise in the Bombay Stock Exchange. Get premium, high resolution news photos at … Do you people even understand anything? I asked you. Won't it be better to write about them? The name of Mr. Jerry Rao continues to be appeared in the media as implicated in security scam issues since the time of Harshad Mehta 1992 and the same goes on until 2008. , Indian stockbroker and businessman (1954–2001), CS1 maint: multiple names: authors list (, "The securities scam of 1992 – CBI Archives", "The Harshad Mehta case: Where time has overtaken justice by a mile", "Action against Harshad Mehta, Videocon, BPL and Sterlite (Press release 19 April 2001)", "Scam-tainted stockbroker Harshad Mehta passes away", "Revisiting 1992: The chickens come home to roost", "Securities scandal: Investigators haul in more people, discover ever-widening net", "Scam 1992: Was Harshad Mehta the mastermind or fall guy of securities fraud? Usa threat of trade sanctions scam could recur, Madhavan, I 'll my. Securities a BR discounting case, the police, CBI, whatever they ask, 'You will talk! Used several small banks to issue BRs on demand to Mehta made by my,! 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