Here is a concise summary of the text:
**Title:** The Harshad Mehta Story: The Big Bull of the Stock Market Scam (1992)
**Summary:**
Harshad Mehta, born in 1954 in Gujarat, rose from a middle-class family to become a stock market tycoon in the 1980s. Through exploiting loopholes in "Ready Forward Deals" and bank receipts, he manipulated the market, increasing stock prices artificially (e.g., ACC shares from ₹200 to ₹9,000). His scam, valued at over ₹24,000 crores (approximately $3.2 billion USD), was exposed in 1992 by a journalist. Mehta was charged with 72 offenses, served 3 months in custody, and was later sentenced to 5 years in prison. He died in 2001 at age 47. The case highlighted systemic flaws in India's finance and banking systems, with some arguing that Mehta was a symptom of a larger problem rather than the sole perpetrator. His life story is being adapted into a movie ("The Big Bull") and a web series.
Here are the key facts extracted from the text, keeping each fact short and numbered, without including opinions:
1. **Harshad Mehta's Birth**: Harshad Shantilal Mehta was born on July 29, 1954.
2. **Birthplace**: He was born in Rajkot district of Gujarat.
3. **Childhood and Education**: His childhood was spent in Mumbai, where he completed his education.
4. **Early Career**: After graduating, Harshad did many small jobs for eight years.
5. **Company Founding**: In 1984, he started his own company, Grow More Research and Asset Management.
6. **Broker Membership**: He obtained a broker membership in the Bombay Stock Exchange.
7. **Wealth Accumulation**: He accumulated significant wealth, owning nine apartments and a fleet of luxury cars.
8. **Scam Amount**: The 1992 stock market scam, led by him, would amount to over 24,000 crores if accounted for today.
9. **Scam Method**: The scam involved exploiting "Ready Forward Deals" (RFD) and fake bank receipts.
10. **Bank Involvement**: Small banks, including the Bank of Karad and the Metropolitan Cooperative Bank, were involved.
11. **ACC Share Price Manipulation**: He manipulated the ACC share price from ₹200 to ₹9,000, a 4400% increase.
12. **Scam Exposure**: The scam was busted by a journalist named Suchita.
13. **Market Impact**: The scam's exposure led to the biggest drop in the share market's history.
14. **Banking System Impact**: It shook the banking systems in India, involving several bank officials and people with authorities.
15. **Investigation Outcome**: Investigations found involvement of bank officials and people with authorities.
16. **Vijaya Bank Chairman's Action**: The chairman of Vijaya Bank committed suicide after the news broke out.
17. **Harshad's Accusation**: After getting bail, Harshad accused former Prime Minister P.V. Narasimha Rao of accepting a bribe.
18. **Congress Party's Stance**: The Congress Party denied the allegations against P.V. Narasimha Rao.
19. **CBI Findings**: The CBI did not find solid evidence to support the bribery allegations.
20. **Harshad's Sentencing**: He was sentenced to five years of imprisonment by the High Court in 1999.
21. **Imprisonment and Death**: He was jailed on December 31, 2001, and died the same night due to chest pain, at the age of 47.
22. **Tax Liability**: He owed over 11,000 crores to the Income Tax Department, potentially the highest tax liability.