Harshad Mehta scam 1992

Harshad Mehta:

The Big Bull of Stock Market.

Harshad Mehta was born on 29 July of 1954 at lower middle class, Rajkot district, in a Gujarati Jain family. His father name was Shantilal Mehta a small-time textile businessman His early childhood was spent in Kandivali. Later, the family moved to Raipur, Madhya Pradesh (current Chhattisgarh). A cricket enthusiast, Harshad then came to Mumbai after his schooling for further studies and to find work. Harshad completed his B.Com in 1976 from Lala Lajpat Rai College, Mumbai and worked a number of different jobs for his next eight years. 

In the early 1980s, he went for an amateur clerical job at the brokerage firm, where he worked in a jobber profile for the broker Prasann Pranjivandas Broker who he considered his teacher. Over a tenure of ten years, in 1980, he served in positions of increasing responsibility in different brokerage firms. By 1990, he had risen to a position of eminence in the Indian money market, along within the media such as “Big Bull” and famous Business today magazine titled him as "Amitabh Bachchan" of the stock market. 

Harshad came into light when a journalist name Sucheta Dalal brought SBI inside story of 500 crores irregularities in her news article for the first time. From where the unboxing of India's biggest financial scam came into lime light. 

Grow More Research and Asset Management, with his financial assistance of many associates, when the Bombay stock exchange auctioned a broker's card. He actively started to trade as a trader in 1986.From where there was no looking back for him. Then he made a rise of nearly quadruple the Bombay Stock Exchange's Sensitive Index within a year to 4,387 point by April 1992, a steak since-thankfully-unmatched with the help of his money and his investors. Mehta took his selected stocks-which were shares of ACC Ltd, Apollo Tyres, Reliance Industries and his own Mazda Industries-along for the steak. The value of his personal holding rose by ten times during the period to an estimated Rs 2,000 crore. It was more than a tenth of the country's security budget for 1992-93.  In that time Harshad heavily benefited his investors by giving them 35-37% profit on their investment. This act made him the most trusted broker of the BSE. 

His dominance then began to tumble. In April, an internal State Bank of India (SBI) scrutiny found the bank was missing short by Rs 500 crore that Harshad owed them. He had 'borrowed' it from SBI on promises of providing Bank receipt from Punjab national bank.in this transaction period he uses this money which was issued on his name to fuel his play in the stock market as he does for past sort of time with different time, but this time A brokers' strike in BSE between brokers and BSE, market closure for several days prevented Harshad from cashing in stocks to repay the bank. The leaked to Times of India. 

Credit must go to a hard-penned bold article in The Times of India of April 23, 1992. Their source mentioned that Mehta had been asked by State Bank of India, the country's biggest bank, to "square up" Rs 500 crore transection, a massive sum for that time. Mehta then stood accused by the CBI of conspiracy, criminal breach of trust, and cheating under provisions of IPC. The money involved in the fraud was estimated to be Rs 5,000 crore to Rs 6,000 crore. 

As Times of India and other media publications, including Indian Express and India Today followed up that transection system,helped discovering my dimensions that earned the appreciation of even Wall Street's hardened loophole and also in banking system. Mehta wasn't the only broker in the game, tempering the securities market to manipulate stock prices. Further investigation suggested SBI wasn't the only bank in the role. Several banks including SBI were fully in the game of using BRs to leverage ever greater amounts and using these into quick loans and 'short-selling' bonds to buy them back at lower rates, looking to make profit.  

Being upset from his political colleagues in Delhi, who sided him at the time he needed them most, on the suggestion of his famous lawyer Ram Jethmalani went to host a live press conference where he reveled that PM P.V. Narsimha Rao have taken 1 crore as a token of political support to the government for 1991 election from him. And in return have supported in his dealings. Due to these statement finance minister Yashwant Sinha reigned. 

Later on, he was convicted to 5-year jail by judiciary of country. On day of 31 December 2001, Harshad Mehta was undergoing a criminal custody in the Thane prison complained of chest pain late at night and was then admitted to Thane Civil Hospital were died following a brief heart ailment, at the age of 47.  

Harshad Shantilal Mehta and his family members were charged with 76 criminal cases with a sum of 600 civil suits. Shortly after Mehta died in Tihar jail, all criminal cases against him were lessened but a sizeable number of civil suits to recover dues from the family remain unscathed. 

The Narendra Modi:A tale of india longest ruling head of state.

 A tale of india longest ruling head of state:

Narendra Modi

Narendra Damodardas modi was born on September 17, 1950 in a lower middle class family of grocery sellers in Vadnagar India. He has successfully proved that success has nothing to do with caste, greed and the place you come from, He is the only prime minister of India whose mother was alive when he sworn as prime minister of country .He is one of the politician who rose from a negligible RSS volunteer to prime minister of country and also achieved the title of longest serving Indian head of state.

Early life and career:

The origination of modi starts in a small town in northern Gujarat, in his early childhood use to sell tea at railway station with his father, later he completed his M.A. degree in political science from gujarat university ,Ahmedabad. Then he joined a proficient Hindu organisation Rashtriya Swayamsevak Sangh(RSS) in early 1970.After then modi rose steadily in RSS hierarchy .

Modi became a part of BJP in 1987, and year later he got the honour to be the general secretary of Gujarat branch of party and later proved himself efficient by strengthening the party in succeeding years. As a result in 1990 modi was one of the BJP members who participated in the coalition government. In year 1995 general elections he helped BJP to achieve the milestone by forming first ever BJP controlled government in India, however the government was short lived and ended in 1996.

In 1995 Narendra modi was made the secretary of the BJP National organization in New Delhi, and following which he was made general secretary and worked for three year at this position.

After then in february 2002 entered in first time electoral contest and won a seat in Gujarat state assembly and was made chief minister of Gujarat.

Modi politics came in controversy on the morning of 27 Feb. 2002 when a group of Muslim burned a train couch whose all the seats were occupied by 59 Hindu devotees (karsevak) coming back from Ayodhya, the Muslim mob attacked the couch with quilt dipped in kerosene thrown on them in Sabarmati Express train near the Godhra railway station in the Indian state of Gujarat. All the pilgrims were burned live came to know as infamous Godhra kand.

This inhumane deed sparked anger in hindu community of Gujarat as a result communal riot started in all over Gujarat .to maintain the law and order of state modi wrote to the chief minister of neighboring states of Rajasthan and Madhya Pradesh,which was then ruled by congress but they refused to send their police forces due to antagonist politics and congress touched  height of hypocrisy  when they blamed modi for ineffective steps, modi was accused for not talking proper steps to stop riots. As a result modi was refused diplomatic visa by United States accusing him of riots. This matter then reached to the supreme court and after investigation he got clear chit from the supreme court of India.

Modi continued to mark milestone by repeated political success in Gujrat and became an indispensable leader in BJP hierarchy .In 2002 under modi lead BJP secured 127 out of 182,projecting a very famous manifesto for growth and development  in gujrat,Again BJP won election in 2007 with 117 seats,and in 2012 with seats 2012,within this years Gujrat become development model with the tremendous development in the state,soon this gujrat model was hot topic for discussion at national level as well as international level.the hard work modi added few more stars in this leadership as great leader and he was given credit for rapid growth of the state’s economy. In addition,to this his party’s electoral performances helped lift Modi’s position as not only the most-influential leadership  in the party but also a potential candidate for prime minister of India. In June 2013 Modi was chosen the leader for the BJP’s campaign for the 2014 elections to the Lok Sabha.

The economic reforms by modi were sweeping, introducing structural changes—and temporary disruptions—that could be felt nationwide. Among the most daring and  far-reaching was the demonetization and replacement of 500- and 1,000-rupee banknotes with only a few hours’ notice. The purpose was to stop “black money”—cash used for illegal and anti national  activities—by making it difficult to exchange large sums of cash. The following year the government centralized the consumption tax system and introduced the Goods and Services Tax (GST). GDP growth slowed from these changes, though growth had already been high (8.2 percent in 2015), and the reforms succeeded in expanding the government’s tax base.

Narendra Modi was again sworn-in as India's Prime Minister on 30 May, 2019, for the second term. He is a personality of motivation who rose from a poverty-stricken tea-selling boy to a hardworking development-oriented leader. 

Modi touched the heart and gained his life time high respect by all nationalist citizens of country on the day of 5^th August 2019 when home minister Amit shah revoked article 370 in parliament with huge supporting the parliament by a presidential order. This was a issue of great importance for BJP from 1953 when their founder leaders Shyama Prasad Mukharjee marched to lal chowk of Kashmir to host national flag according to him their can’t be 2 constitution in a single nation. From then BJP had this demand of abrogation of article 370 from J&K in their manifesto and on 5 august they kept their promise to the country. 

Achievements:

Ø  He was named as the best Chief Minister in the country in 2007 by india today magazine.

Ø  In 2009, FDI magazine honoured him the Asian Winner of the 'FDI Personality of the Year award.

Ø  He was featured on the cover page in March 2012 by TIME's Asian edition.

Ø  'World's Most Powerful People' in 2014, he ranked at 15 by Forbes magazine's.

Ø  In 2014, 2015 and 2017, he was listed in ‘ 100 most influential people in the world’ by Time magazine.

Ø  He was awarded ‘Indian of the Year’ by CNN-IBN news network In 2014.

Ø  Time Magazine in 2015 released '30 most influential people on the internet ‘list and he was named as the second most-followed politician on social media.

Ø  In 2015, he was ranked as 13th-Most-Influential Person in the World by Bloomberg Markets Magazine.

Ø  In 2015, Modi was ranked fifth on Fortune Magazine's annual list of the "World's Greatest Leaders".

Ø  A wax statue of Modi was placed at Madame Tussaud Wax Museum in London in 2016.

Ø  In 2016 PM he was conferred with the’ Amir Amanullah Khan Award’, the highest civilian honour of Afghanistan.

Ø  In April 2016, modi was conferred with the Saudi Arabia's highest civilian honour 'King Abdulaziz Sash' by King Salman bin Abdulaziz.

Ø  In 2017, the Gallup International Association (GIA) conducted a poll and ranked him as  the third top leader of the world.

Ø  According to 2018 statistics he is the third most followed head head of country on Twitter and the topmost followed world leader on Facebook and Instagram.

Ø  Modi ranked 9th in Forbes World's Most Powerful People list 2018.

Ø  In October 2018,he received UN's highest environmental award, the 'Champions of the Earth' for policy leadership by “pioneering works in championing” the International Solar Alliance and “new areas of levels of cooperation on environmental action”.

Ø  Modi was conferred with the Seoul Peace Prize in 2018 for improving international cooperation, raising global economic growth, accelerating the Human Development of the people of India by fostering the economic growth etc .Also he is the first Indian to win this award.

Ø  On 10 February, Modi was honoured with a Grand Collar of the State of Palestine; the highest civilian honour of Palestine for foreign dignitaries.

Ø  The first Philips Kotler presidential Award is also received by him in 2019.

Ø  In  2019, PM Narendra Modi, a biographic film starring Vivek Oberoi was released.

Ø  On 4 April, 2019, UAE President Sheikh Khalifa bin Al Nahyan has conferred on Indian PM Narendra Modi, the Zayed Medal, the highest decorated awarded to kings, presidents and heads of the states. He received the honour in appreciation of his efforts in maintaining strategic ties and allies with UAE.

AND STILL COUNTING..........

Was veer savarkar a traitor or hero?

 Was veer savarkar a traitor

 or 

National hero?

Savarkar made mency petition to English Government, Savarkar gave up anti-British activities, Savarkar collaborated with the British’, These are the common propaganda of the present-day Congress and Congress-sponsored ‘left-liberals’ to discredit and deface Hindu Nationalist movement in modern India, of which Savarkar is and always has been a towering icon. A study of up to date factual historical data and material, which survived in spite of the Congress onslaught tell different story.Lets go throw the case study in details.

To reveal the maliciously insinuated and perpetrated by the ‘secular-liberal’ block regarding Savarkar’s amnesty petitions, we should always first analyze the circumstantial backdrop of Savarkar’s amnesty petitions and his release.

V. D. Savarkar, who was sentenced to the longest rigorous term (50 years) in India’s history and was categorized as ‘D (Dangerous) Prisoner’ by the British Home Department, was subjected to the foremost inhuman tortures at Cellular Jail including confinement, standing handcuff, chain gauge, cross-bar fetters, except for most straining labour like oil-milling.

As a visionary leader and a wonderful strategist, Savarkar realized that being in jail shall not serve any purpose for his motherland but, his presence within the mainland as a free man shall do. This realization motivated Savarkar to hunt amnesty from imprisonment at Cellular Jail, which, is also said strategically the foremost prudent decision. However, the breed of anti-Savarkar propagandists don't disclose in their propaganda-rhetoric the particular incontrovertible fact that Savarkar, in his petition for amnesty, had sought release not only of himself but all the political prisoners jailed at Andaman . 

It being immensely interesting for the people and equally embarrassing for the Congress-boot-licking propaganda machinery that politician and also the elder brother of Vallabhai Patel, moved a resolution in the Central assembly on 24th February 1920 seeking release of Savarkar brothers from Cellular Jail. Bal Gangadhar Tilak also wrote a letter to Montague, cabinet minister, seeking release of Savarkar brothers . 

Even Gandhiji, Congress’s messiah of convenience, wrote in Young India that Savarkar brothers must be released.

I think the Congressmen won’t loose their mind now to question nationalist credentials of Bal Gangadhar Tilak, Vithalbhai Patel and Gandhiji . Rev. C. F. Andrews, (whose name graces a university at Kolkata and Andrews Palli at Shantiniketan) also demanded release of Savarkar brothers [. In March 1921, K.V. Rangaswamy Ayyangar, a prominent Congress leader and Member of the Council of State, moved a resolution seeking release of Savarkar brothers. However, in 1921 Savarkar was moved to the mainland India from Cellular jail as a prisoner and not a free citizen. 

In 1923, the Indian National Congress in its Cocanada Session (38th Session), passed a resolution demanding release of Savarkar. statesman, a opponent of Savarkar's political ideology, had also made personal donation to the Savarkar Memorial Museum and released a commemorative stamp in the legacy Savarkar's memorial .

 

The aforesaid facts as documented and chronicled within the annals of India's history, clearly show that whatever malicious campaign the present-day Congress and their pet-commies may perpetrate, Savarkar’s prayer for amnesty wasn't only a prudent strategic advance his part, but was also a requirement of the state including the contemporary political stalwarts within the Indian National Congress like Tilak and even Gandhiji.

 

There is a lesser circulated fact which can intrigue any reader and researcher of India’s struggle for freedom. Netaji Subhas Chandra Bose, with whom Savarkar had some differences in opinion, suddenly travelled to Bombay and met Savarkar at his residence in an exceedingly closed door meeting on 22nd June 1940. This sudden and uncharted meeting of two prominent hardliners caused ripples within the British administration , who were informed later by Hindu Mahasabha that the meeting was regarding the prospect of political alliance between Hindu Mahasabha and Forward Block.

 

 The curious facts in respect of this meeting was that this meeting came about on 22nd June 1940, i.e. barely six months before Netaji’s dramatic and meticulously pre-planned break loose India; and secondly, neither any close political aide of Savarkar or of Netaji were allowed to be present within the closed door meeting, which isn't only unprecedented but also absolutely strange beyond all proportions for political match-making meetings. it's also to be noted that within the preceding year, Rash Behari Bose, the good revolutionary, the mastermind of assassination attempt on Lord Hardinge and therefore the Gadar uprising and also the founding father of Indian Independence League and also the Azad Hind Fauj, published in Japanese the biography of V.D. Savarkar, addressing him as “The Rising Leader of recent India” . R.C. Majumder, internationally acclaimed because the doyen of Indian History, had described Savarkar because the ‘Great Revolutionary Leader’ .

 

I shall not waste any longer word and reading-time of the readers, on the anti-Savarkar propaganda of the Congressmen of today and their bootlicking communist liars; Rather, I shall only quote what two of the best stalwarts of armed struggle for India’s freedom had spoken about Savarkar.

 

Rash Behari Bose strongly shared Savarkar's vision of a strong Hindu nation beyond political boundaries for regional domination and was instrumental in fitting branches of Hindu Mahasabha in Japan, Burma, Java, Malaya. during a letter dated 11th July 1938, Rash Behari Bose wrote to Savarkar: "Every attempt should be made for creating a Hindu block extending from the Indian Ocean to the Pacific Ocean" . In his radio talk, Rash Behari Bose addressed to Savarkar saying: “In saluting you, i've got the enjoyment of doing my duty towards my elderly comrade-in-arms. In saluting you, i'm saluting the symbol of sacrifice itself” . In an editorial published in March and should 1939 problems with Great Asianism, Rash Behari Bose further extolled Veer Savarkar, saying : "Savarkar may be a personification of heroism, valour, adventure and patriotism, and that i admire his spirit of sacrifice. He has always carried the torch of India's independence since the beginning of the 20th century. at this time he he's calling for the establishment of the country supported the speculation of cultural independence" .

 

In his speech through Singapore Radio on 25th June 1944, Netaji Subhas Chandra Bose, alluded Savarkar, by saying : “When thanks to misguided political whims and lack of vision, most the leaders of the Congress Party are decrying all the soldiers within the Indian Army as mercenaries, it's heartening to grasp that Veer Savarkar is fearlessly exhorting the youth of India to enlist within the militia. These enlisted youth themselves gave us with trained men from which we draw the soldiers of our Indian National Army” .

 

I believe that even the foolest of the fools within the present-day Congress, in spite of great temptation, shall not have the courage and audacity to question the nationalist credentials of Rash Behari Bose and Netaji and Veer Savarkar.The only reason for congress to deface V.D. Savarkar is because he was a super nationalist and great hindu ideology leader which the communist can't get over.

 

SOURCE:

  An Echo From Andamans, Savarkar, P. 66. Also read ‘The heroes of Cellular Jail: Som Nath Agarwal;    Rupa Publications.
 Veer Savarkar (Biography); by Dhananjay Keer, P. 157
 Young India, May 1920 issue.

Free Hindusthan, 27th January 1946

 Form Quit India to Split India:, A.S. Bhide, P. 27
 Mission with Mountbatten: Allen Campbell – Johnson, P. 58-59
 MSA, Home Special Department, 1023, 1939-1940, S.A. dt. 29th June 1940.

 Asianisms, Regionalist Interactions & Asian Integration: Marc Fray & Nicola Spakowski, Pp. 67
 Indian Independence League Publication

 Bose of Nakamuraya, An Indian Revolutionary in Japan: Takeshi Nakajima, Pp. 227, Bibliophile South Asia, Chicago.
Free Hindusthan, 27th January 1946. Also read ‘Veer Savarkar : Father of Hindu Nationalism’ by Jaywant D. Joglekar.