Mumbai: Aditya Birla Group’s Media and Entertainment Company Applause Entertainment is all set to make the first ever web series, which is based on the 1992 Securities Scam.
The Scam series by SuchetaDalal and Debhasis Basu will unfold the great gripping story of the 1992 Stock Market Scam involving Harshad Mehta, The New India Assurance employee-turned stock broker who having been charged with numerous financial crimes that shook the country in 1992.
Applause Entertainment has announced its foray in to digital content business after roping in firebrand Media maven Sameer Nair, who was associated with Balaji Telefilms as Group CEO.
The Scam Series is likely to delve deep in to the story of “Big Bull” of Dala Street, Mehta, who was using bank receipts of public sector banks to buy stocks. He deployed well over Rs 1,000 crore and triggered the biggest Bull-Run in the Indian stock market. The BSE Sensex rose from around 2,000 points in January 1992 to 4,467 points in April that year. The Sensex tanked to 2,529 points in August, wiping out over Rs 100,000 crore in market capitalisation. The scam rocked Parliament and Mehta was jailed. A decade later, Mehta died in a hospital with 27 cases still pending against him.
With Scams involving PNB and NiravModi tumbling out of the box, the Scam series will perfectly fit in to meet the curiosity level of audience.