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Scam 1992: The Harshad Mehta Story is compelling, realistic and very different!

“Flaws are part of human nature and I try to treat human nature in a holistic manner with empathy that shows in the way my characters emerge ultimately,” says #HansalMehta in his interpretation of the life and times of #HarshadMehta. The one reason you should drop everything and watch this show is that Indian content has finally matured to narrate a story without taking sides, creating undue hype or pronouncing judgement.



ASHOK’s FIVE reviews #Sam1992TheHarshadMehtaStory on #SonyLiv; the story of an enterprising Gujarati man who made it from a chawl in Ghatkopar to a palatial estate in Marine Drive with guts and courage but took the liberty to bend the laws and suffered the consequences. Directed by #HansalMehta, the ten-part series is created by Applause Entertainment and is based on the book “The Scam: Who Won, who lost and who got away”, by #DebshsisBasu and #SuchetaDalal.


Watch #Scam1992 for a stellar, effortless performance from Gujarati stage actor #PratikGandhi. He does not resemble #HarshadMehta in any way and the only likeness perhaps is the long sleeve formal shirt tucked in. Pratik’s Harshad is not sinister, conniving or over-the-top at all. Instead, he is a loyal husband, devoted family man and extremely hard-working. The only fault is lofty ambition borne out of confidence that borders on the brazen. When challenged or stopped in his tracks, Harshad breaks into a wry smile that hides the steely resolve within. Whether it is trading on the stock market, entry into the money market or just playing golf, it is simply a challenge for Harshad and makes him even more determined. Pratik also manages to perfect the far-away look in his eyes that represents burning ambition, steely resolve and child-like eagerness to surmount the next challenge.



The series also captures the nuances of the flawed banking and regulatory systems of the nineties as well as the tireless efforts of the journalist seeking the truth. The Government, political class, banker’s nexus as well as the investigating authorities all find a place in the narrative. Writers #SumitPurohit, #VaibhaVishal and #KaranVyas manage to create a realistic and gripping story that keeps you hooked. The trials and tribulations of #SuchetaDalal and how she fights internal obstacles but remains steadfast in her dogged pursuit also make for a fascinating watch.



I think the other stand-out feature of the show is the re-creation of the Bombay of the nineties in perfect acid-washed cinematography. #HansalMehta’s full frames, angular shots and #PrathamMehta’s cinematography make for nostalgia.


#SatishKaushik plays the foul-mouthed Manu Mundhra and #AnantMahadevan dons the role of RBI governor Venkitrajan. Both are old hands and do a fabulous job. I wish the stereotypical dialogues in Tamil about the taste of the home-brewed coffee were eschewed. The rest of the cast also does a competent job with #RajatKapoor playing the eager-beaver CBI cop K ‘Bofors’ Madhavan and #NikhilDiwedi playing the Citibank head A S Thyagarjan. I found #HemantKher’s Ashwin Mehta as the mellow and reasonable foil to Harshad and his cavalier ways. #AnajaliBarot as Harshad’s wife draws empathy. I was floored by #KKRaina’s portrayal of M K Pherwani the Chairman of the Unit Trust of India. Here is a true thespian who has been playing such fabulous character roles for over three decades now.



The recreation of the Times of India office in the pre-computerisation era is brilliant. #ShreyaDhanwanthari plays Sucheta Dalal and falls asleep at her manual typewriter after moving heaven and earth to get her first piece on Harshad published. The intriguing world of investigative journalism, replete with tip-offs, confidential sources, probing interviews and tons of cigarette smoke in the office does catch your fancy. The nice little touch of #RKLakshman the common man patrolling the floors is delightful.


The relationship between #SuchetaDalal and #DebashisBasu is interesting. Most of the initial shots showing their interaction always have Basu framed in high angle shots or seated below Sucheta in an almost subservient manner. Their romantic track is muted, and the eventual marriage scenes are almost a force-fit.



Some of the dialogues and their settings are catchy. Harshad attempts a shot on the golf-course and misses the ball altogether. The ex-pat chief of Grindlays bank advises him “Your mind missed the shot, not your body Mr Mehta. You should stick to the game you are good at”. In his interview to Sucheta, Harshad declares “In business it takes time to create fortune and timing to kill it”. The piece de resistance though is the cheesy sounding “Risk hai toh ishq hai” that pervades through the show. Even as he is still smarting from the tens of cases foisted on him but the CBI and the ED, Harshad contemplates a comeback and the portrait in his office has a quote from Robert F Kennedy “Don’t get mad; get even”


The screenplay makes a sincere effort to be inclusive when dealing with technical banking terms like SGL, BRs and Ready Forward Deals. The lay viewer is not thrown off-track with legalese or jargon and the focus remains on the motives, actions and consequences. The retro tracks at the end of each episode is a welcome addition although the overall background score does look disjointed. There is also an attempt to contextualise the years to events that occurred in history. While the ‘Jumma Chumma de de’ track from Bachchan’s Hum playing in the background of a night-club is fine, the forced reference to Ray’s Agantuk looks out of place.



#Scam1992 is our own version of the financial world drama much like #TheBigShort or even #TheWolfofWallStreet. The story revolves around the central character so much that some of the other characters are not very well sketched out. There are some loose ends too – godman Swami’s role and the allegations against the Prime Minister. Just when you thought that you had seen it all, the spitting image of then finance minister #ManmohanSingh jumps out at you and catches you off guard.

But at the end of it all, the series is gripping, shot well and has some fine acting and brilliant writing. It is a show that can give a much-needed boost to content creation and inspire a whole range of new stories. It remains a fine example of taking a chapter from our own history and re-creating the story as it is.


#Scam1992TheHarshadMehtaStory also leaves you shaken. The pre-liberalisation, pre-digitisation India was shackled by powerful corporates including foreign banks and their monopoly prevented enterprising businessmen from participating in the market. The political and bank regulatory authorities perhaps looked at the letter rather than the spirit of the law. An enterprising young man took on the system and found loopholes that he exploited. He did break the law but was it out of criminal intent alone or was it also out of frustration at being denied access to opportunity? Does one view such a man as black or white or is there a grey to this? How can the system harness the brilliance of such entrepreneurs while ensuring they work within the legal guardrails? At the end of the day, you feel a tinge of admiration for the man and you wonder - Is it an error of a solitary man or is it the failure of the system?


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