Scams are common nowadays.! In India, there is nothing shocking about it.
we are used to it. You open a newspaper today you can find a scam on coal industry and the prime accused of this scam is our Hounarable and respected Mr. Manmohan singh. The so called liberaliser and the proud economist of the independent India. And of course he is our Prime minister, if i am right. (??)
India, the aspiring super power has seen so many scams and the interesting thing is when a new scam come, it will over take the old one in its value and size. Because We set target and we will break it (In scams). But whenever a new scam comes and it is obvious all the newspaper want theirs should be the first one to expose the scam. To make things interesting they will list all the scams that India faced.
First comes in the list is Harshad Mehta scam.
Harshad Shantilal Mehta. A Stock broker who once called as a ‘BIG BULL’. The financial liberator of the middle class people in India by making things good for them to enter into stock market, and offering them handsome return on their investment. The intersting thing about the scam is usually all the scams will be shown in some films as part of a scene but this is the only scam which was taken as a full fledged movie.
Named GAFLA, a hindi movie speaks the entire story of Mehta’ scam. Gafla means scam. Very intersting to watch the movie. Very professional. But i am not sure about the ROI of Gafla. In India informative movie dont go well. It is sucha a movie with a message, and it goes like this..
Investments are subjected to market risks. Please read the offer documents carefully before investing.
We have shown the movie to our MBA students and i hope things reached them well. They understood and very interestingly some argued that , if Mehta was able to get Foriegn funding he would have made it big. But the brokers cartel already existing dont want that to happen. If there was no Income tax raid, If the investors with his firm didnot come for refunding the investments., things would have gone well. But as they say its not about doing right thing.. its about the Game. Who wins and who loses, pull the trigger.
More to explore for Finance people. Such movies should frequently come and should be promoted by government.
Because more than telecasting thousand times of advertisement for investor awarness, one good movie will reach millions of ordinary people.
As the title of this post goes ‘ The biggest risk in life is not taking one’, but finance speak more on legal than ethical.
Gafls is Good..! The message is delivered.