Bhushan Bhatt Scam 1992: Who Was He in Real Life?

Bhushan Bhatt scam 1992 scene
Source: YouTube

The Bhushan Bhatt scam in 1992 was not a minor scam; it was as big as the Harshad Mehta Scam. I know, you must be thinking that I’m talking about the actor Chriag Vohra from the Netflix series. 

But I’m talking about the real-life Bhushan Bhatt. Do you know who he is? Nope! I’m going to tell you everything yet. 

Before we jump into the case. I would like you to watch the series Scam 1992 first. Oh my god! One of the best series of all time.

You know, this is what I mean when I say Indian art is the best. We don’t need to steal any hollywood story. India has its own story to make artistic pieces on. 

When I first saw it, I was just falling from cloud 9. Everything about the series felt so real. I don’t even remember when did I start feeling that everything was happening for real.

The actor who played the character of Harshad Mehta did a spectacular job. I cannot even tell you. It was just outstanding. 

Chirag as Bhushan Bhatt
Source: YouTube

One thing that I really liked about the series is that the actors are not that popular. The directors broke the myth that only famous actors can make a movie or series famous.

The times have changed, and now, you just need a good story, good direction, and, obviously, the music.

Do you still remember the title track? It was my ringtone! Okay, enough of this excitement. Now, let’s discuss a little bit about Bhushan Bhatt.

Who is Bhushan Bhatt? Is He the Real Person?

Bhushan Bhatt Scam 1992 is not only about Bhushan Bhatt but Harshad Mehta too. The real person was not Bhushan Bhatt. 

It is actually the name of the character. You know, these topics are pretty sensitive and might be a little controversial too. So, for the sake of privacy, the real names are changed into something else, and Bhushan Bhatt is also the changed name of the real scammer.

In the series, you must have seen the character who was the right hand of Harshad Mehta. He was nothing less than him. 

In that series, we see him working as his right hand and learning the tricks from Harshad. This is what happened in real life as well.

Yes, in real life, Harshad taught the real-life Bhushan everything about stocks and how one can easily manipulate the market to make money. 

Sounds interesting right? Chirag Vohra did an amazing job. He had a very calm but chilling look. The duo just rocked the screens.

I was impressed with the casting director. I mean, how on earth he got the idea to cast these two actors? They are just so perfect at their work.

I was a drama student, so I have this habit of critically analyzing the actors and the way they carry the characters. Both have done a spectacular job.

But do you know what happened to Bhushan Bhatt? He was also arrested for forgery. But why are we discussing him over Harshad Mehta?

Chill! There is always a reason behind this. We are discussing him because he is a different kind of fraud. 

Scam 1992 still

I mean, just on another level. It reminds me of a conversation with my sister. She was the one who first saw the series.

She told me that Harshad Mehta and Bhushan Bhatt found the most subtle loopholes, and they made millions out of it. 

You can rob a bank or a house, but manipulating an entire system without anyone noticing is something that you need immense knowledge of. 

So, as we are talking about the real case and all, I think it is the right time to reveal the real person and discuss his case.

Who was Bhushan Bhatt in Real Life?

The real-life Bhushan Bhatt was Ketan Parekh. He was the right hand of Harshad Mehta. Though we know him like this, he was a chartered accountant by profession and used to manage the stock business of his family. 

But how did he meet Harshad? A lot of you might not know, but Ketan joined Harshad’s farm as a chartered accountant, and from there, they started working on “the things.” 

Those who witnessed it say that Harshad was a criminal but not a criminal at the same time. Even the government couldn’t deny that his fraud enabled them to work on the loopholes.

Moreover, they didn’t even know that the loopholes existed. In that series, too, he was not a villain but a hero. 

Ketan Parekh’s scam happened in 2001. Yes, you have guessed it right. He used to apply all the techniques that he learned from Harshad. So, what did he actually do? 

Hmm, that is a very good question. Let’s see, then. 

Bhushan Bhatt scam 1992

2001 Scam Details

We all have heard of the 1992 scam. Now, let me tell you about the 2001 scam. It was none other than Ketan Parekh. 

Being a chartered accountant and the right of Harshad Mehta, Ketan had a fair knowledge of the stock market. 

What he did was take a huge amount of loan from the bank. The bank (I will not mention the name) also committed the crime of giving him a loan that exceeded the limit. 

The market was affected. But this was not the end; through all the techniques, he kept doing what he was doing, he finally came to notice, and after that, Ketan couldn’t escape anywhere.

After all the inquiry, the jury decided to work on the loopholes and ban him from the stock market. 

It feels like a good decision, right? But we forget that he had a mind of Chartered account.

Great knowledge comes with great power. He kept doing more frauds.

You know, one thing that I have found common in Harshad and Ketan is that they were not afraid of anything. Fear of getting arrested or being banished nothing. The lust for earning the maximum amount of money made them blind. 

What did He do after Getting Caught?

He kept doing scams. Yes, I know you don’t believe me, but this is the truth. After he was banned from the stock market, with the help of some leading companies, he kept the fraud.

But the police were successful in finding the same. And he was finally arrested. But the question arises, how did he come to know all the business owners and leading stock companies?

When he worked with Harshad Mehta, they hosted parties. You know, this was the first point the media noticed about him.

How can a man make some many connections so fast? As far as I remember, they committed a fraud worth 40,000 crores. Though he was imprisoned, the government and the CBI were waiting for him to do something again. But he stopped. 

Later, the government gave Ketan permission to go to London to see his daughter. Meanwhile, they started asking questions to Adani. People strongly believed that he had great connections with Adani, and they were helping him in all these. However, the truth is yet to be revealed. 

Do you also think that Adanis were there? Anything can happen in the business world, though. Business is something that does not have any rules. 

Sometimes even the most pious-looking businesses can have some darker secrets.  It all gets hidden in the name and fame. 

Scam 1992 still
Source: YouTube

Where is Ketan Parekh Now?

After that, nobody heard about him. Only the government has the records. Maybe he has realized his mistakes and has become a better person, or he is planning for his next step.

I know, I’m sounding as if I am describing a murderer. But trust me, my research process was nothing less than a movie. 

I was getting shocked with each new click. The process looked so easy. They did it as if they knew how to do it. 

Some sources say that he lives in Mumbai and he has resumed his investment journey. Well, I don’t know how much truth is there in that statement. 

Do you think that they are still planning for the next step? Maybe, maybe not. People like Ketan are masterminds, and they are just unpredictable. 

So, it is better that you keep an eye on your stocks. Again if not them, someone else like them is sitting somewhere searching for a loophole to manipulate the market. 

Ending Words

The world is full of mysteries. Starting from the death of Subhas Chandra Bose to the 1992 scam. People are still finding answers. 

Well, thank you to actors like Chirag Vohra and Rajkumar Rao for acting in such masterpieces and making the characters just unforgettable. 

People are appreciating such content. Moreover, it is very happy to see that directors are paying attention to these incidents and trying to make the best art possible.

No worries; there are thousands of stories like this. So, after you finish watching scam 1992, you can go for something else or wait for a few months. Who knows? Another scam might be waiting for attention.

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