Scam 1992: Real Characters VS Reel

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Scam 1992 – The Harshad Mehta Story is an Indian Hindi-language drama web-series. The series is based upon the 1992 Indian stock market scam committed by stockbroker Harshad Mehta in 1992, the series is adapted from journalist Sucheta Dalal and Debashish Basu’s book The Scam: Who Won, who Lost, who Got Away. It is directed by Hansal Mehta.

The series premiered on SonyLIV on 9th October 2020 and got an IMDb rating of 9.6/10. In an instant, it became one of the favourite of everyone and the Indian audiences have loved the series and the exceptional performance of its incredible cast.

Here is a look at all the players in the series and their real-life counterparts:

  1. Harshad Mehta:

Pratik Gandhi, who plays the lead, has won over the critics and the masses with his brilliant performance. From Harshad Mehta’s distinguishable personality traits to his devil-may-care attitude, Gandhi nailed the infamous stockbroker’s mannerism down.


  1. Ashwin Mehta:

The role is played by Hemant Kher who is the brother of Harshad Mehta. He was also a stockbroker in Harshad Mehta’s firm. He went to pursue a lawyer’s degree in his mid-50s and was finally acquitted in 2018.


  1. Jyoti Mehta:

Her role is played by Anjali Barot, who is the wife of Harshad Mehta. In 2014, Jyoti Mehta sued a Mumbai-based broker who owed six crores to Harshad Mehta since 1992. She won the case in 2019.


  1. Pranav Seth:

Jai Upadhyay plays Pranav Seth in the series, a character apparently inspired by former stockbroker Ketan Parekh. A chartered accountant, Parekh was also a part of Harshad Mehta’s firm GrowMore investments but not convicted in the 1992 Scam.

However, he was barred from trading in the Indian Stock exchanges till 2017 after his involvement in the 2001 stock manipulation of the Indian stock market.


  1. Sucheta Dalal:

Shreya Dhanwanthary played the role of journalist and author Sucheta Dalal; who was working with TOI when she investigated; the high-profile Harshad Mehta Scam in 1992. She went on to investigate and report on several high profile financial fraud cases; including the Enron scam, the Industrial Development Bank of India scam; and the 2001 Ketan Parekh scam.


  1. Debashis Basu:

Faisal Rashid plays the role of Debashis Basu, co-author of the book The Scam and Suchetra Dalal’s husband. He was one of the journalists who investigated the Harshad Mehta scam in 1992. He currently runs MoneyLife, a fortnightly magazine on investment.


  1. Manu Mundra:

Played by Satish Kaushik, the character Manu Mundra is apparently based on the life of the kingpin of the stock market in the 80s, Manu Manek, infamously known as the “Black Cobra”.


  1. Maheshwari:

Played by Paresh Ganatra, is supposedly based on businessman and investor Radhakishan Damani, the founder of DMart. Though he was not accused of any scam, he was linked to both, Manu Manek and Harshad Mehta, who were infamous for stock manipulation.


  1. Rakesh:

Kavin Dave plays the role, apparently inspired by businessman Rakesh Jhunjhunwala, rumoured to be the “king of stockmarket” in present times. Apparently, the void that Harshad Mehta’s arrest and downfall created in the stock market was taken over by Jhunjhunwala.


  1. Ram Jethmalani:

Mithilesh Chaturvedi plays the late Ram Jethmalani, lawyer, and former Rajya Sabha member, who headed the legal team defending Harshad Mehta.


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