Indian Financial “Scam 1992” Changing The TV Landscape And The Actor’s Lives
Applause Entertainment’s “Scam 1992: The Harshad Mehta Story” is an original streaming series that depicts the 1992 stock market scandal in India — which was the first time a small group of corrupt individuals brought down a country’s stock market, causing a 40% loss (equivalent to over $1 billion U.S. dollars) and decimating the financial sector. It is the first time this Indian story has been created for and been a hit on both streaming services in India and the world, with fans drawn to a depiction that is much more Scorsese than Bollywood.
“Scam 1992” tells the story of Harshad Mehta, an Indian stockbroker who manipulated the market in the largest Indian Securities market scam. Adapted from journalist Sucheta Dalal and Debashish Basu’s 1992 book “The Scam: Who Won, Who Lost and Who Got Away,” the series was written by Smuit Purohit, Sarah Day, Valbhav Vishal and Karan Vyas. It was directed by legendary Indian director Hansal Mehta.
The series was a huge departure for Indian film and television, telling the real-life story of a scandal that rocked the country. With outstanding performances by Pratik Gandhi as the controversial stockbroker Mehta and Shreya Dhanwanthary as the feisty journalist Sucheta Dalal, the series has continued to win awards and accolades for its script, cast, direction, music and period production values. It went on to be featured on IMDB’s list of top-rated TV shows globally with a 9.5 rating. It was risk for both the actors and the filmmakers, but one that is paying off. A subsequent series, “Scam 2003” based on the 2004 Stamp Paper Scam is already scheduled to be directed by Mehta.
“I was in school when this all happened,” Gandhi stated about playing in a real-life drama versus a fictional story. “But some of my close relatives were affected by the indecent so I was certainly aware,” he added.
Gandhi came to the project as one of the first choices for Mehta. And it was his theatrical pedigree that landed him there.
“I worked in theatre for over 15 years, and regional cinema for nine years. But this, by far, is the biggest undertaking of my career. I was sold on the character and to work with Mehta, whose work I have always admired, well, that was reason enough right there to jump on board,” he added.
“We didn’t know the project would be groundbreaking at the beginning,” co-star Shreya Dhanwanthary explained. “But I knew I was to play Sucheta Dalal, an award-winning journalist, and even though I didn’t know the depth of the scandal with the stock market, I knew of the scandal and the book and really couldn’t wait to be a part of the series,” she added.
“These kinds of roles come along later in your career, once in a lifetime, so to get it so early in my acting career was a great gift but also a great challenge. I wanted to be sure to play her right, and to get what the director needed. It was quite exciting,” she added.
Dhanwanthary, an actress, model, director and author got her break just a year previous in 2019’s “The Family Man”(Amazon Prime Video) as Zoya.
“The challenge of playing a real character is you don’t want to mimic them, you’re not doing an impersonation. You want to inhabit their character traits and explore their minds space, a place not know to anyone. Although I never met anyone involved in the actual story, I did a lot of research and spoke with people who had worked closely with Harshad to try to understand him better,” Gandhi explained.
“I actually got to meet Dalal,” Dhanwanthary stated. “And I laid my hands, feet, eyes, ears and any other body part on anything of hers, any information or tidbits, that I could find, to help me personify this woman who can send a tweet and have stock markets tumble,” she added.
Once the research was done and it was time to shoot, it took a complete transformation to take the audience back to 1992 to get to know the principals in the scandal that rocked India. “I had to gain a lot of weight to look the part and play different age groups, like 20 kg (44 pounds) to make that big body frame with bulging belly,” Gandhi laughed.
“Well, the expectations were low going in and people had 1000s of things to say,” Dhanwanthary commented. “Pratik and I aren’t the most well-known-figures in Bollywood, not huge, enormous bankable stars, so people doubted. The director, Mehta, was a more independent producer and the platform we were on, SonyLIV, was new as well. So, there were doubts,” she concluded.
Those doubts went away when the show debuted and quickly became the highest rated Indian show on the International platform. And that’s never happened for an Indian web or TV show; to go global with such interest and success.
“We all felt so proud when we were told of the success,” Gandhi exclaimed. “Given this response, we all should be creating more characters that stay with the audience and in their hearts for a long time. I shall be exploring various genres and range of characters to surprise the audience with each new outing, and always keeping the world audience in mind,” he added.
“When I went to audition, I saw 10 women’s name that I look up to and admire, and thought, well, this isn’t going to happen for me, so let me just have fun,” Dhanwanthary noted. “Well, that worked, and I got the call a week after. I was one of the last ones cast. I haven’t stopped screaming since, and then when it became so popular and we got the numbers we go, well, I’ve been beside myself the entire time,” she added.
“Mahta pushes us as far as we think we can go, and then some,” she went on, “so I think that really made the project. Each of us was challenged to be the best, that’s his gift to make us better and he did it. And that audiences outside of India are finding this financial thriller about a specific place and time, it’s so rewarding. What bigger compliment can an actor get than to have people believe and like their work world-wide.”
The show’s success has led to another show about another scandal, “Scam 2003” and there’s even talk of a small franchise of shows, in America, think Dick Wolfe and “Law & Order”, because the momentum just keeps building.
Now, both actors are working on new projects and realize they’ve had an incredible springboard from which to propel their careers. But that means a more International fan base.
“Indian television needs to keep up and change,” Gandhi stated. “Sometimes they go for the lowest common denominator. This show proves people will follow complex story lines, intricate lives. And now in India with OTT programming (Apps/Over the Top) you can access the best entertainment from around the globe. And Indian OTT contents doing a lot of experiments and really good work, so the change is happening,” he added.
“In the 90s and 2000s I thought Indian TV was doing a great job, and then it got very soap opera in ways and it lost me for a time. OTT and web series has been nothing but a blessing to allow so much content, “Dhanwanthary said, “I’m so excited about the web series and OTT programming because they have opened up the landscape completely, there’s so much more playground for everyone in front and behind the camera. There’s risk being taken with subjects, with filmmaking, types of stories. This is so much more positive in so many different way and I know it will go up and up unless recent governmental policies and censors step in, but I really think it’s going to continue,” she said
“I couldn’t agree more,” Gandhi said. “Streaming and all the platforms have made things content-centric, not so much star-centric. This opens new avenues for actors like me, in fact, this is one of the best times in the world to be an actor,” he added.
“This has always been a dream, and I’m just one person in one part of the world with this dream, Dhanwanthary concluded. “To think I can now share my dreams, my talents with the entire world in project like ‘Scam 1992’ is beyond incredible, it’s truly a blessing. I was young, bullied at times, and now, here I am and it’s living a dream.”
Both Bollywood and Hollywood love to capitalize on success. “Scam 1992” with Ghandi and Dhanwanthary is blazing a trail in which other shows will follow, a template for success. Both actors are now fielding offers and ready to explore the opportunities that awaits.
It appears the world’s viewing audience is ready to welcome them.
