The web series ‘Scam 1992’ turned heads and became one of the most-watched programs on an OTT platform in recent times. Right from the apt story, on-point acting to covering the details, the director and actors gave a top-notch performance to replay the Harshad Mehta Scam. 

Now, after most of us have watched how Harshad Mehta tricked the entire Dalal Street, a question must have popped up in your minds- where are the real-life counterparts of Scam 1992 web series now? What are they doing at present? 

Well, simply keep reading to find answers to all the queries! 


To start with, you must be curious about the reporter who did the praise-worthy work of bringing this vicious scam out in open, Sucheta Dalal


The Scam 1992 series is based on a book that is co-authored by Sucheta Dalal and her husband Debashis Basu. It was after Sharad Bhillari, a person working in the PR department of SBI Bank who dropped a hint about a possible scam being pulled out. She continues to be a popular business journalist who has contributed about 25 years of her life to this profession. 

Currently, she is working as the Managing Editor of a magazine named Moneylife. Along with this, over the years she authored a couple of books like The Scam: Who Won, Who Lost, Who Got Away and A.D Shroff: Titan of Finance And Free Enterprise. Sucheta Dalal has been facilitated with the prestigious Padma Shri in 2006 for her contributions in the field of journalism. 


Next, let’s talk about Ashwin Mehta who was a partner in crime and brother of Harshad Mehta.


After the demise of his brother in 2001, while he was in police custody, many of you must be curious about his present whereabouts. Well, after Harshad Mehta passed away his family was left behind to scrape off the mess he created and his brother was one of them. With around 600 civil cases and 76 criminal charges registered against the family, there was a huge amount imposed as tax dues on them. Although when Harshad Mehta died some of the cases were dropped, there was still a long road to go for his brother and family. 

In his mid 50’s he went on to pursue a degree in law. If we were to go by reports then he also practised law in the Mumbai High Court. Ashwin had to fight the legal battle defending the Mehta family until the year 2018. Yes, almost 20 years! Nevertheless, he now serves as a qualified lawyer in Mumbai and is reported to have an approximate net worth of 25-30 crores. 

Now let’s move to the members of the bear cartel


In the series The Scam 1992, you must have come across a character named Manu Mundra who in real life was Manu Manek. Also known as the ‘Black Cobra’ during the ’90s.

Known for his short-selling skills of the stocks he was the main person behind the so-called bear cartel of 1980-the 90s. Before Harshad Mehta stepped into the stock market world, it was Manu Manek who ran the stock market as if a puppet master and he was the king of BSE.

Not much is known about him as to what he did after the entire scam came into light. As per the insider reports, he is no more alive and as an when the technological advancement took place in the stock market he reduced his work in this area. 

Further, in the series, two characters - Rakesh and Maheswari also must have caught your attention from the bear cartel. As most of you must know by now that, Maheshwari was a character depicting Radhakishan Damani and Rakesh was none- other than Rakesh Jhunjhunwala. 


As shown in the series, the character of Rakesh decided to leave short-selling and opt for the long term investment. 


Over the years he succeeded to do so and became known as ‘ The King of Bull Market. As of September 2020, he was the 39th richest person in India and owns an asset management firm that goes by the name Rare Enterprise. He serves as the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd. With this he is also a part of the board of directors of firms like Praj Industries, Geojit Financial Services, Provogue India Limited, etc. He continues to invest with his wife Rekha Jhunjhunwala and often likes to trade to keep his skills sharp. 


The character of Maheshwari, who in real life is Radha Kishan Damani also known as White and White.


During the time when Harshad Mehta rose to glory, he basically was a short seller. As you just have seen in the web-series Scam 1992, he decided to make a switch to value investing after nearly losing a huge sum of money while short-selling. But, he dodged that situation as around the same time Sucheta Dalal revealed the Harshad Mehta Scam. 

A man who mostly stays behind the hustle of media and limelight, he is an investor and owner of a mega-retail chain of stores - D-Mart in the country. Along with this he also manages his portfolio via his own investment company called Bright Star Investment Limited. In fact, Mr Rakesh Jhunjhunwala considers him as his mentor. Currently, he is the 4rth richest Indian with a net worth of nearly $15.4 billion.


Last but not the least, let us know about the character of Ajay Kedia whose character in real life is kain to Ajay Kayan. 


The name of Ajay Kayan was highlighted not only in the Harshad Mehta scam but in the scam pulled by Ketan Parikh that saw the light of day during 2000-2001. But, in both cases, he was given a clean chit. Currently, he is not only an investment banker, a stockbroker but also serves as the director of SMIFS Capital Markets Ltd, a firm run by his son himself.  As of September 2020, he publicly holds 4 stocks with a total worth of more than 4.9 crores.  

Critics and the viewers would agree to the fact that Scam 1992 web series cast has given its best to depict how the biggest scam of the stock market was shrewdly carried out. Bringing out such finance-related stories through web series is one of the most practical ways to aware people of how to be immune to such frauds and make right investments too. 

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