The Sony Liv series Scam 1992 showed the first billion dollar scam in India that involved stock broker Harshad Mehta.
While Harshad passed away in 2001 in police custody, his family was caught in a series of legal battles, thereafter.
After 27 years of legal battle the income tax tribunal finally scrapped almost the entire tax demand of ₹2.014 crore on late Harshad Mehta, his wife Jyoti, and brother Ashwin in February 2019.
In the same year, his wife Jyoti Mehta also won a case against stockbroker Kishore Janani and Federal Bank who apparently owed ₹6 crore to Harshad Mehta since 1992. Jyoti was entitled to receive the entire amount with 18% interest.
Harshad’s brother, Ashwin Mehta, pursued a degree in law in his mid-50s and is a busy lawyer today practicing in Mumbai High Court as well as Supreme Court. He fought several court cases single-handedly and paid nearly ₹1,700 crore to banks to clear his brother’s name.
He was the consituted attorney for Harshad and also a stock broker in his firm.
While the case against Harshad Mehta was abated soon after his death in 2001, Ashwin was fighting the legal battle until 2018 when he was acquitted by a special court in a case of duping the State Bank of India.
If you’ve watched the web series, you know how it ended for the entire family.