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To understand the importance of the year 1992, we must travel back to the chaotic trading floors of the Bombay Stock Exchange. This was the year of the infamous securities scam masterminded by stockbroker Harshad Mehta. Exploiting loopholes in the banking system, Mehta diverted funds from inter-bank transactions to drive a bull run in the stock market, causing the Sensex to skyrocket from 1,000 to 4,000 points in a single year. The fallout, when it came, was disastrous, revealing a massive ₹4,000 crore hole in the banking system and forever changing the regulatory framework for India’s financial markets.

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