1 00:00:26,040 --> 00:00:29,560 [Sucheta] 'In the crash of 1986, Harshad had managed to save his reputation.' 2 00:00:30,040 --> 00:00:32,440 'But he had begun to realise...' 3 00:00:32,560 --> 00:00:36,840 '...that dipping into one's own pocket, was not the way to run a large-scale business.' 4 00:00:37,600 --> 00:00:39,600 'To scale up, he needed big funds...' 5 00:00:39,720 --> 00:00:43,160 '...and Harshad started knocking at the door of financial institutions...' 6 00:00:44,680 --> 00:00:49,520 'And there was only one man who could open this door completely.' 7 00:00:49,960 --> 00:00:53,600 'The Chairman of the Unit Trust of India, M. J. Pherwani.' 8 00:00:53,680 --> 00:00:55,920 'The original Big Bull.' 9 00:00:58,440 --> 00:01:01,280 'Before the advent of mutual funds and private investments...' 10 00:01:01,360 --> 00:01:05,240 '...there were only two places where Indian taxpayers could safely invest their money.' 11 00:01:05,360 --> 00:01:07,000 'LIC and UTI.' 12 00:01:07,080 --> 00:01:09,600 'While LIC was a long-term institutional investor...' 13 00:01:09,720 --> 00:01:15,080 '...UTI had a corpus fund of 20,000 crores to invest in the share market.' 14 00:01:15,160 --> 00:01:19,240 'If UTI decided to buy, the Sensex was sure to gallop ahead.' 15 00:01:19,360 --> 00:01:23,600 'And if it decided to sell, the Sensex would get reigned in.' 16 00:01:26,000 --> 00:01:27,760 - Please. - Thank you, sir. - Thank you. 17 00:01:37,440 --> 00:01:39,440 I've been wanting to meet you both for a while now. 18 00:01:39,840 --> 00:01:41,800 - Glad to meet you. - Same here, sir. 19 00:01:44,000 --> 00:01:45,400 Before we talk business... 20 00:01:46,280 --> 00:01:48,680 ...I want to ask you guys a very important question. 21 00:01:49,400 --> 00:01:50,320 Please. 22 00:01:51,440 --> 00:01:54,840 Do you know what is the most valuable thing in the world? 23 00:01:55,480 --> 00:01:56,360 Uhh... 24 00:01:57,560 --> 00:01:58,480 It's not a watch. 25 00:01:59,520 --> 00:02:01,120 Not even expensive scotch. 26 00:02:02,320 --> 00:02:05,400 Not even those big cars, diamonds... 27 00:02:06,480 --> 00:02:07,720 No. Nothing. 28 00:02:08,360 --> 00:02:09,920 - Advice? - Uh... 29 00:02:10,240 --> 00:02:13,240 You know... sometimes a piece of advice can change your life...? 30 00:02:17,400 --> 00:02:18,600 Let me give you a hint. 31 00:02:21,200 --> 00:02:23,800 That word is a part of my company's name. 32 00:02:24,480 --> 00:02:26,880 - Trust? - Correct. Trust. 33 00:02:28,560 --> 00:02:31,200 Do you know why trust is so valuable? 34 00:02:32,760 --> 00:02:34,400 Because it's in great demand. 35 00:02:34,760 --> 00:02:36,800 And is always in short supply. 36 00:02:38,200 --> 00:02:38,960 Very true. 37 00:02:39,640 --> 00:02:42,480 Now the question is, why should I trust you? Why? 38 00:02:43,640 --> 00:02:44,960 Well, you can very well trust us. 39 00:02:45,320 --> 00:02:49,560 - In fact, our entire business is... - Precisely 13 months and 10 days ago... 40 00:02:51,080 --> 00:02:54,120 ...a few of my Vam Organics shares landed up in someone's hands. 41 00:02:54,800 --> 00:02:56,440 Owing to a simple clerical mistake. 42 00:02:57,120 --> 00:02:58,560 [Pherwani] 'My office tried to contact them.' 43 00:02:59,640 --> 00:03:01,040 But, do you know what they did? 44 00:03:01,960 --> 00:03:05,240 They used this clerical mistake to their advantage and sold those shares. 45 00:03:05,720 --> 00:03:07,440 - Sir, that... - You sold those shares. 46 00:03:08,600 --> 00:03:11,240 - Those shares had landed up with you. - Sir, actually, what happened was... 47 00:03:11,720 --> 00:03:13,200 There is some big misunderstanding. 48 00:03:14,000 --> 00:03:15,920 None of your shares ever came to us. 49 00:03:16,040 --> 00:03:18,840 - And even if they did, how could we have sold them? - Stop! Please, stop. 50 00:03:19,720 --> 00:03:22,120 Don't try to teach me how our system functions. 51 00:03:23,800 --> 00:03:26,360 Do you know why I wanted to meet you guys? 52 00:03:27,160 --> 00:03:28,600 Because I wanted to tell you... 53 00:03:28,880 --> 00:03:30,760 ...there could be a loophole in the system. 54 00:03:31,720 --> 00:03:34,960 But only a few people misuse it. 55 00:03:35,280 --> 00:03:36,160 People like you. 56 00:03:37,920 --> 00:03:40,560 I don't do business just for the sake of a deal. 57 00:03:40,920 --> 00:03:43,360 I do business with people whom I can trust. 58 00:03:46,760 --> 00:03:47,800 No trust... 59 00:03:49,680 --> 00:03:50,800 ...no business. 60 00:03:51,440 --> 00:03:54,360 [Title Montage] 61 00:04:39,800 --> 00:04:42,960 Somras. Do you know why this is called the drink of the Gods? 62 00:04:43,960 --> 00:04:46,960 Because drinking it on Sunday, makes Monday feel like heaven. 63 00:04:48,440 --> 00:04:50,960 Have a sip. You won't get addicted with a sip. Come on. 64 00:04:51,080 --> 00:04:52,960 No, thank you. I'm okay with my Thums Up. 65 00:04:53,080 --> 00:04:53,960 Okay? 66 00:04:55,280 --> 00:04:56,160 My Cheetah... 67 00:04:56,400 --> 00:04:59,280 ...in the past six months, you've bagged LIC, GIC, Can Mutual... 68 00:04:59,360 --> 00:05:03,080 ...and pocketed 1.5 per cent commission in every deal. 69 00:05:03,600 --> 00:05:06,280 My institutional broker, huh? 70 00:05:06,360 --> 00:05:08,000 - What, Pranav Bhai? - And you say you're "okay"? 71 00:05:08,920 --> 00:05:10,280 Hardly an institutional broker. 72 00:05:11,960 --> 00:05:14,080 UTI still hasn't given us any business. 73 00:05:15,160 --> 00:05:16,920 And I'm tired of this 1.5 per cent game. 74 00:05:18,480 --> 00:05:21,040 Institutions have so much money but no plan. 75 00:05:22,400 --> 00:05:23,960 To be honest, if I had that kind of money... 76 00:05:24,120 --> 00:05:26,080 ...the market would have been up by 4,000 points. 77 00:05:26,560 --> 00:05:29,400 Then take it up. It's your money, go on and invest it. 78 00:05:29,880 --> 00:05:32,960 What's that you say? "Risk is the spice of life", right? 79 00:05:33,720 --> 00:05:36,200 Darling, whiskey is risky too. 80 00:05:36,480 --> 00:05:38,840 Have a taste of this spice too. Come on... 81 00:05:38,840 --> 00:05:40,320 You are impossible. 82 00:05:42,800 --> 00:05:45,960 Hey, Pranav Sheth, your laughter can be heard from a mile away. 83 00:05:46,240 --> 00:05:47,320 Ajay Bhai! 84 00:05:47,920 --> 00:05:51,400 Wonderful. I'm glad you were just a mile away... 85 00:05:51,560 --> 00:05:53,960 ...coz my laughter can't reach all the way to Calcutta. 86 00:05:55,160 --> 00:05:56,880 - Cheers! - Cheers. 87 00:05:56,960 --> 00:05:59,480 -[Man] 'Pranav!' - Yes? 88 00:06:00,240 --> 00:06:04,360 You can't drink, but you can hold it, right? Here. 89 00:06:04,400 --> 00:06:06,760 Go on, pay your respects. Big man. 90 00:06:07,160 --> 00:06:08,040 Stay right here. 91 00:06:08,920 --> 00:06:10,400 [Pranav] 'Hey, how're you?' 92 00:06:13,200 --> 00:06:15,320 Ajay Bhai, Harshad. 93 00:06:15,760 --> 00:06:18,160 - Harshad Mehta. - Ajay Kedia. Cheers. 94 00:06:18,600 --> 00:06:20,080 Oh no no. This is Pranav Bhai's. 95 00:06:20,480 --> 00:06:22,800 I don't drink. By the way, I've heard a lot about you. 96 00:06:24,640 --> 00:06:27,880 Ever since I've entered the market, I've heard of Mr. Kedia from Calcutta. 97 00:06:29,640 --> 00:06:33,320 That Black Thursday crash of 1982...? 98 00:06:33,880 --> 00:06:35,040 ...your's and Reliance's...? 99 00:06:35,960 --> 00:06:38,320 I too lost lakhs that day. 100 00:06:40,240 --> 00:06:44,360 I mean, I was on the verge of packing up from the market. Bag and baggage. 101 00:06:47,440 --> 00:06:48,600 Harish, right? 102 00:06:48,640 --> 00:06:51,280 - Harshad. Harshad Mehta. - Yes, Harshad. 103 00:06:52,880 --> 00:06:54,720 A word of advice for you Harshad. 104 00:06:55,440 --> 00:06:58,440 If you can't take the heat, get out of the kitchen. Huh? 105 00:06:59,560 --> 00:07:00,760 It's not like that. 106 00:07:00,880 --> 00:07:06,200 And I'm really sorry if we ended your stint in the market. 107 00:07:06,320 --> 00:07:08,400 - Hmmm? Very sorry about that. - No, no... 108 00:07:08,760 --> 00:07:10,600 In fact, I've started my own consultancy now. 109 00:07:11,040 --> 00:07:12,200 - Yours? - Yes... 110 00:07:15,120 --> 00:07:16,280 Growmore. 111 00:07:17,880 --> 00:07:19,120 Alright, Mr. Growmore. 112 00:07:20,280 --> 00:07:21,520 I will see you around... 113 00:07:22,440 --> 00:07:24,160 ...if you stay around. 114 00:07:36,160 --> 00:07:37,240 Come here. 115 00:07:57,680 --> 00:07:59,960 Oh, Mr. Mehta? Where's my drink? 116 00:08:01,120 --> 00:08:02,440 Bloody hell! 117 00:08:04,120 --> 00:08:05,080 You finished my drink? 118 00:08:05,320 --> 00:08:06,920 [Pranav laughs] 119 00:08:10,560 --> 00:08:11,760 Who the hell is this Kedia? 120 00:08:12,400 --> 00:08:13,520 What's with his attitude? 121 00:08:14,680 --> 00:08:16,160 Of course he has an attitude. 122 00:08:16,840 --> 00:08:20,520 He practically owns the share market. He comes from a family of traders. 123 00:08:21,040 --> 00:08:22,920 He manages four companies simultaneously. 124 00:08:23,480 --> 00:08:25,920 One foot in the money market and the other in the share market. 125 00:08:26,320 --> 00:08:29,840 [Pranav] 'Government securities, PSU bonds... At a huge scale. ' 126 00:08:30,440 --> 00:08:31,440 Money market? 127 00:08:32,600 --> 00:08:34,520 Is there so much money to be made in government securities? 128 00:08:35,880 --> 00:08:37,520 It's the bazaar of wealth, brother! 129 00:08:38,480 --> 00:08:43,600 Okay, tell me one thing. What is the daily volume of our share market? 130 00:08:45,440 --> 00:08:46,880 Around 10,000 crores... 131 00:08:48,080 --> 00:08:51,400 And guess the daily volume of the money market? Two lakh crores. 132 00:08:52,440 --> 00:08:54,040 Therefore, attitude. 133 00:09:07,640 --> 00:09:11,320 Ashwin, have you ever seen a cricketer play tennis? 134 00:09:12,440 --> 00:09:16,840 But even in tennis, there is a grass court, a clay court... and the game is different for each. 135 00:09:17,640 --> 00:09:19,640 This money market game is out of your league. 136 00:09:19,840 --> 00:09:22,720 [Ashwin] 'Harshad, it's all been going well for six months.' 137 00:09:22,920 --> 00:09:25,720 - Now why this new obsession? - What's been going well? 138 00:09:26,200 --> 00:09:28,200 Growmore is just our name, where's the growth? 139 00:09:29,440 --> 00:09:31,440 Institutional broking is not good enough. 140 00:09:31,680 --> 00:09:32,760 We have to think of something new. 141 00:09:34,040 --> 00:09:37,200 Businesses reach saturation points, not brains. Or do we stop using our brains as well? 142 00:09:37,680 --> 00:09:38,840 I get it. 143 00:09:39,640 --> 00:09:42,200 That Ajay Kedia, he's rattled you, right? 144 00:09:42,520 --> 00:09:44,400 [Pranav] 'And so, you're lecturing us now.' 145 00:09:44,920 --> 00:09:46,240 'Why don't you speak clearly...' 146 00:09:46,480 --> 00:09:51,280 ...that you want to stick a finger up his, for the way he treated you? 147 00:09:52,520 --> 00:09:55,240 [Ashwin] 'Does anyone here even know what the money market is?' 148 00:09:55,520 --> 00:09:57,480 Do you have any solid plan in mind? 149 00:09:59,600 --> 00:10:00,880 Now that's the right question. 150 00:10:01,760 --> 00:10:04,160 Look, the share market and money market aren't very different. 151 00:10:05,200 --> 00:10:07,800 Here, instead of shares, we trade in... 152 00:10:07,920 --> 00:10:10,120 ...government securities, PSU bonds and units. 153 00:10:10,440 --> 00:10:12,680 We all know that a broker understands a company's share's value... 154 00:10:12,760 --> 00:10:13,680 ...better than the company itself, right? 155 00:10:13,800 --> 00:10:14,720 Yes. 156 00:10:14,880 --> 00:10:16,400 Similarly, in the money market... 157 00:10:16,480 --> 00:10:20,000 ...which banks want to buy securities and where they can get them... 158 00:10:20,120 --> 00:10:21,760 ...is in the broker's knowledge. 159 00:10:22,480 --> 00:10:24,640 [Harshad] 'Our job is to manage both demand and supply.' 160 00:10:24,960 --> 00:10:29,720 The most important document in every money market transaction is the SGL note. 161 00:10:31,440 --> 00:10:33,840 SGL means Subsidiary General Ledger. 162 00:10:33,920 --> 00:10:36,720 [Ashwin] 'Now let's assume, I buy 1000 units from you.' 163 00:10:37,000 --> 00:10:39,680 'So, you give me an SGL note in return.' 164 00:10:40,080 --> 00:10:43,360 'I deposit this SGL in the PDO...' 165 00:10:43,440 --> 00:10:45,880 '...that is Public Debt Office of the RBI.' 166 00:10:45,960 --> 00:10:48,800 'The PDO holds the account for all your units.' 167 00:10:49,240 --> 00:10:51,960 [Harshad] 'Brokers, banks... everyone wants their business to grow fast.' 168 00:10:52,120 --> 00:10:55,400 'And they say, SGLs slow down transactions.' 169 00:10:55,600 --> 00:10:58,080 So, instead of SGL, we will use BR. 170 00:10:59,680 --> 00:11:02,240 -[Bhushan] 'BR... meaning Bank Receipt.' -[Rebello] 'Hmm...' 171 00:11:02,720 --> 00:11:06,400 'That means transactions are now possible without SGL.' 172 00:11:06,520 --> 00:11:07,920 'There is no central authority.' 173 00:11:08,400 --> 00:11:11,400 'Now, when one bank wants to sell its securities to another...' 174 00:11:12,040 --> 00:11:13,760 '...they can simply issue a receipt...' 175 00:11:14,280 --> 00:11:16,360 '...guaranteeing that they have the securities.' 176 00:11:27,920 --> 00:11:29,840 [Ashwin] 'Do we have a contact in Citibank?' 177 00:11:30,320 --> 00:11:33,040 [Harshad] 'We don't have a contact but I've fixed a meeting with K S Tyagi...' 178 00:11:33,200 --> 00:11:35,280 '...he handles all their money market deals.' 179 00:11:35,440 --> 00:11:37,160 'He's known as 'Tyagu' in the market' 180 00:11:37,480 --> 00:11:40,080 Mr. Mehta, it's not important whether you're capable or not. 181 00:11:40,200 --> 00:11:42,480 What is important is whether you understand this market. 182 00:11:43,760 --> 00:11:46,680 First, learn about this market and then approach us. 183 00:11:47,440 --> 00:11:48,520 Then we'll see. 184 00:11:49,960 --> 00:11:53,760 You mean to say, you won't do business with us because we are outsiders? 185 00:11:55,120 --> 00:11:56,880 It's not a question of insider or outsider. 186 00:11:58,480 --> 00:12:00,240 I already have my existing set of brokers. 187 00:12:00,240 --> 00:12:01,880 Why should I work with somebody new? 188 00:12:03,920 --> 00:12:06,280 Sir, there was a time, I was new at the stock markets too. 189 00:12:07,280 --> 00:12:08,840 But I found my way through it. 190 00:12:10,240 --> 00:12:12,200 So, I am sure I can do it with money markets too. 191 00:12:16,240 --> 00:12:18,640 Mr. Mehta, let me give you some very good advice. 192 00:12:20,120 --> 00:12:21,200 This is the money market. 193 00:12:22,400 --> 00:12:26,160 Top brokers from the stock market want to enter it, but they can't. 194 00:12:29,000 --> 00:12:31,440 You know why? Because of pedigree. 195 00:12:32,480 --> 00:12:34,040 Pedigree is very important here. 196 00:12:35,240 --> 00:12:37,000 [Tyagi] 'There's no place for new people in this market.' 197 00:12:38,680 --> 00:12:40,400 You shouldn't try either. 198 00:12:45,400 --> 00:12:46,800 Thank you for your advice, sir. 199 00:12:48,320 --> 00:12:50,920 But I am not sure if it was in my interest or yours. 200 00:12:54,040 --> 00:12:54,960 Have a good day. 201 00:13:06,080 --> 00:13:06,880 Hi. 202 00:13:10,400 --> 00:13:11,440 Who's that? 203 00:13:11,960 --> 00:13:13,000 Ajay Kedia. 204 00:13:20,000 --> 00:13:21,120 Okay... 205 00:13:25,120 --> 00:13:26,000 Hi. 206 00:13:26,520 --> 00:13:28,360 - Just a second. - I am sorry to interrupt you. 207 00:13:28,480 --> 00:13:29,320 That's okay. 208 00:13:29,400 --> 00:13:31,560 Can I see your treasury chief, Mr. Niraj Chopra? 209 00:13:31,680 --> 00:13:33,480 Did you have an appointment with him today? 210 00:13:34,760 --> 00:13:36,400 Just tell him it's Harshad Mehta. 211 00:13:37,520 --> 00:13:40,640 Uhm... Sorry, sir, but he is not available. 212 00:13:41,600 --> 00:13:43,520 Can you give me an appointment with him for tomorrow? 213 00:13:43,720 --> 00:13:45,920 Sir, I'm afraid but he's leaving for Madras tomorrow. 214 00:13:46,000 --> 00:13:47,960 He will be out of station for a while. 215 00:13:48,520 --> 00:13:50,440 So, he has no time during the day at all? 216 00:13:50,960 --> 00:13:52,400 He has a flight to catch. 217 00:14:17,040 --> 00:14:18,000 Niraj Bhai. 218 00:14:21,400 --> 00:14:22,640 What a coincidence! Wow! 219 00:14:26,520 --> 00:14:28,480 I'm Harshad, Harshad Mehta. 220 00:14:30,760 --> 00:14:32,280 - Hello. - Hello. 221 00:14:37,720 --> 00:14:38,560 In India... 222 00:14:41,760 --> 00:14:45,640 ...the money market is not a market in the Western sense of the term. 223 00:14:47,200 --> 00:14:48,680 Here, it's more like a jungle. 224 00:14:48,800 --> 00:14:51,760 [Niraj] 'I'm not surprised Tyagu threw you out. B*****d.' 225 00:14:52,720 --> 00:14:55,600 He doesn't give us any business nor does he let us do it on our own. 226 00:14:56,920 --> 00:14:58,080 Why would he entertain you? 227 00:14:58,920 --> 00:15:01,280 -[Niraj] 'Look, Harshad, right?' - Yeah. 228 00:15:02,680 --> 00:15:05,200 Citibank is the king of this jungle. 229 00:15:06,120 --> 00:15:08,800 They've made the whole money market into an exclusive club. 230 00:15:09,480 --> 00:15:11,400 And they do not like outsiders. 231 00:15:14,160 --> 00:15:17,960 Today, the money market feels like the territory of one bank and its brokers. 232 00:15:18,680 --> 00:15:20,080 It's a goddamn cartel. 233 00:15:22,600 --> 00:15:25,120 And Tyagi, he's the boss of this cartel. 234 00:15:25,800 --> 00:15:30,800 And his brokers, Ajay Kedia, Hiten Shroff, Hemendra Kapadia... 235 00:15:32,200 --> 00:15:35,160 ...these people have cornered most of the money market. 236 00:15:37,800 --> 00:15:39,200 We are at their goddamn mercy. 237 00:15:39,920 --> 00:15:42,720 The moment we crack a deal they get to know. 238 00:15:46,880 --> 00:15:48,120 In simple words... 239 00:15:50,800 --> 00:15:53,400 This cookie is the market. 240 00:15:54,880 --> 00:15:57,040 And the cartel is enjoying eating the whole cookie. 241 00:16:01,240 --> 00:16:02,120 No, I get it. 242 00:16:03,560 --> 00:16:06,680 Citibank has its own cartel... with Tyagi and his brokers. 243 00:16:07,640 --> 00:16:09,520 So, why can't we form our own cartel against them? 244 00:16:10,720 --> 00:16:11,680 No, I'm serious. 245 00:16:12,600 --> 00:16:15,680 Tell me honestly, Niraj Bhai. Have you never thought of this? 246 00:16:16,400 --> 00:16:18,840 Of course, I have. Often, in fact. 247 00:16:19,680 --> 00:16:21,920 And like this, I have many other fantasies too. 248 00:16:22,800 --> 00:16:24,040 But we also have ethics. 249 00:16:25,080 --> 00:16:28,960 Tyagi and his cartel know no ethics. 250 00:16:29,760 --> 00:16:31,560 We can't do dirty business like them. 251 00:16:32,000 --> 00:16:33,880 I understand. You should never do dirty business. 252 00:16:34,560 --> 00:16:35,720 But I can, right? 253 00:16:39,560 --> 00:16:40,520 Do you think... 254 00:16:41,840 --> 00:16:45,440 ...Tyagi really knows how his brokers bring him business? 255 00:16:46,960 --> 00:16:47,960 Yes and no. 256 00:16:50,320 --> 00:16:53,360 So similarly, you don't need to know how I get you the business. 257 00:16:53,840 --> 00:16:56,240 You show the path. Just tell me where to start. 258 00:16:57,160 --> 00:16:59,600 My time, my effort. 259 00:16:59,760 --> 00:17:01,280 And you have nothing to lose. 260 00:17:08,920 --> 00:17:10,760 You knew I was going to be on this flight, right? 261 00:17:13,000 --> 00:17:13,960 Yes and no. 262 00:17:15,560 --> 00:17:17,640 A cartel is as good as its members. 263 00:17:18,080 --> 00:17:19,400 The man we're meeting today... 264 00:17:19,840 --> 00:17:21,920 He's a potential member to your cartel. 265 00:17:23,200 --> 00:17:24,160 Our cartel. 266 00:17:25,680 --> 00:17:26,600 Your cartel. 267 00:17:26,760 --> 00:17:28,240 'I have many contacts at Grindlays.' 268 00:17:28,600 --> 00:17:30,040 I used to work at Grindlays. 269 00:17:30,680 --> 00:17:31,920 It's confirmed that... 270 00:17:32,360 --> 00:17:34,760 ...Grindlays is on the look-out for money market brokers. 271 00:17:35,360 --> 00:17:37,840 And they don't want anyone from the Citibank cartel. 272 00:17:41,440 --> 00:17:44,240 'All that is fine, but the biggest problem is, Citibank.' 273 00:17:44,600 --> 00:17:46,920 They have all the funds to buy the securities. 274 00:17:47,800 --> 00:17:52,280 Once they corner the market, their brokers manipulate everything... 275 00:17:52,800 --> 00:17:54,640 Seems like you don't watch TV. 276 00:17:56,480 --> 00:17:57,200 Of course. 277 00:17:57,240 --> 00:17:58,600 Well then, haven't you seen... 278 00:17:58,920 --> 00:18:01,680 ..."one sparrow, then more sparrows... Land to peck at some seeds..." 279 00:18:01,760 --> 00:18:02,920 The solution lies within that. 280 00:18:03,880 --> 00:18:04,680 What? 281 00:18:05,080 --> 00:18:06,640 Look, Citibank throws birdseed... 282 00:18:07,120 --> 00:18:10,040 And like a sparrow, every bank begins pecking on it, that too alone. 283 00:18:10,720 --> 00:18:12,200 And so, it's easy to get trapped. 284 00:18:14,400 --> 00:18:15,560 And what's your point? 285 00:18:15,680 --> 00:18:18,800 The point is, it's time for all banks to come together. 286 00:18:18,960 --> 00:18:20,960 Like this. We are one. 287 00:18:21,120 --> 00:18:23,240 We are strong. We are courageous. 288 00:18:23,600 --> 00:18:25,440 Once we unite, we can achieve big things. 289 00:18:25,960 --> 00:18:27,320 We just can't deal with any bank. 290 00:18:28,520 --> 00:18:29,960 We also have to think about profit and loss. 291 00:18:30,160 --> 00:18:32,880 For once, flap your wings together and fly off with the hunter's net. 292 00:18:32,920 --> 00:18:33,840 Profit will follow. 293 00:18:35,080 --> 00:18:37,720 And once Citibank and its brokers lose a deal... 294 00:18:38,120 --> 00:18:39,840 ...we can cut the net they have woven. 295 00:18:40,320 --> 00:18:41,760 Look, I'm a man of the share market. 296 00:18:42,440 --> 00:18:43,960 I think long-term. 297 00:18:44,560 --> 00:18:47,760 If as a broker, I am ready to bear a loss. You are banks after all. 298 00:18:52,880 --> 00:18:54,160 What do you say, Niraj Bhai? 299 00:18:56,080 --> 00:18:57,800 "One, two, three..." 300 00:18:58,080 --> 00:18:59,240 Let's do it. 301 00:19:05,360 --> 00:19:09,800 "Clever little sparrows... Smart little sparrows..." 302 00:19:10,280 --> 00:19:14,400 "Off they go... carrying the net along..." 303 00:19:14,840 --> 00:19:17,400 "...flocking together, birds of a feather." 304 00:19:21,720 --> 00:19:24,760 I hear that Grindlays too has joined hands with Harshad? 305 00:19:25,160 --> 00:19:26,840 Well. They are not dealing with us anymore. 306 00:19:27,520 --> 00:19:29,880 Plus, Harshad is going after many small banks... 307 00:19:29,960 --> 00:19:31,840 ...and institutions that we don't even touch. 308 00:19:32,280 --> 00:19:33,600 But he is getting volumes. 309 00:19:34,240 --> 00:19:35,720 He's buying as much as he can. 310 00:19:36,160 --> 00:19:37,720 He has even bought some at a loss. 311 00:19:39,440 --> 00:19:40,600 Is he an idiot? 312 00:19:43,240 --> 00:19:44,360 [Niraj] 'Honestly Harshad...' 313 00:19:44,480 --> 00:19:46,920 '...I don't think the cartel will really bother about us right now.' 314 00:19:47,600 --> 00:19:50,280 Yeah, we may have some business but nowhere close to them. 315 00:19:50,720 --> 00:19:53,680 And we never will because Citibank controls the volume. 316 00:19:54,040 --> 00:19:56,560 - It's simple as that. - It's time... 317 00:19:57,680 --> 00:20:01,600 ...to go to the big boss of security dealings... The bank which trumps Citibank. 318 00:20:02,280 --> 00:20:04,480 Citibank may be the don of the money market... 319 00:20:05,480 --> 00:20:07,480 ...but who's the emperor of banking in India? 320 00:20:10,480 --> 00:20:13,120 To fight Citibank, we must think local. 321 00:20:19,320 --> 00:20:22,960 [Harshad] 'You see, sir. We have done our detailed study in the money market.' 322 00:20:23,680 --> 00:20:26,440 'There are a lot of foreign banks, there are dealers, there are cartels...' 323 00:20:26,440 --> 00:20:28,000 '...and they are making good money.' 324 00:20:28,760 --> 00:20:32,480 'I would really say that SBI needs to be a little more aggressive in this. ' 325 00:20:35,320 --> 00:20:36,200 'And all this data...' 326 00:20:36,520 --> 00:20:39,800 '...is absolutely backed by the solid research that we have done at Growmore.' 327 00:20:40,240 --> 00:20:45,320 'We know that SBI often has huge demand for bonds.' 328 00:20:45,680 --> 00:20:46,920 'Because of the heavy investments...' 329 00:20:47,040 --> 00:20:48,960 ...coming from institutional investors, right? 330 00:20:49,320 --> 00:20:51,360 And we can easily source these securities for you. 331 00:20:52,120 --> 00:20:54,360 In fact, there's no need to be worried. 332 00:20:54,520 --> 00:20:56,280 All transactions will be safe. 333 00:20:57,200 --> 00:20:59,480 And we will offer you the best brokerage rates in the market. 334 00:21:00,720 --> 00:21:01,840 Growmore is known for that. 335 00:21:04,960 --> 00:21:06,080 Please have a seat. 336 00:21:07,200 --> 00:21:08,080 Thank you. 337 00:21:11,480 --> 00:21:15,200 Mr. Mehta, we've done our research too... 338 00:21:15,520 --> 00:21:18,120 about you... and your ways... 339 00:21:19,400 --> 00:21:20,800 [Khemani] 'We too have friends in the market.' 340 00:21:22,720 --> 00:21:24,040 You have your own methods. 341 00:21:24,680 --> 00:21:26,880 And you love taking on the big players. 342 00:21:27,960 --> 00:21:29,440 - Actually, sir... -[Khemani] 'And you have...' 343 00:21:29,520 --> 00:21:31,400 ...faced huge losses at times... 344 00:21:31,880 --> 00:21:33,320 ...because of your own methods. 345 00:21:35,120 --> 00:21:36,520 But, it's also true that... 346 00:21:36,880 --> 00:21:39,000 ...you've never let your clients suffer a loss. 347 00:21:40,240 --> 00:21:41,920 Not even after the last market crash. 348 00:21:43,480 --> 00:21:45,080 You are a man of integrity. 349 00:21:46,600 --> 00:21:47,480 Thank you. 350 00:21:48,200 --> 00:21:52,640 Here, brokers team up with foreign banks to manipulate quotes... 351 00:21:52,840 --> 00:21:54,520 ...for their and their client's benefit. 352 00:21:55,680 --> 00:21:59,040 We're meeting you today, not because we want to play safe. 353 00:22:01,400 --> 00:22:03,560 But because we want to change the image of SBI. 354 00:22:05,360 --> 00:22:07,440 Growmore is at the top of our priority list... 355 00:22:07,880 --> 00:22:10,360 ...because you know how to take risks. 356 00:22:12,040 --> 00:22:15,720 These foreign banks and their brokers have been looting us for years. 357 00:22:16,280 --> 00:22:18,240 It's high time we set our house in order. 358 00:22:18,640 --> 00:22:19,480 -[Khemani] 'Isn't it'? - Absolutely. 359 00:22:21,480 --> 00:22:23,200 We are in business, Mr. Mehta. 360 00:22:30,520 --> 00:22:33,960 [Ajay] 'Apparently, he might just add a new word to the financial dictionary.' 361 00:22:34,760 --> 00:22:35,800 Bankerage! 362 00:22:37,440 --> 00:22:39,560 What is this? A new gimmick? 363 00:22:40,520 --> 00:22:42,120 You're not going to like this one bit. 364 00:22:44,280 --> 00:22:46,720 Harshad has started taking positions in the money market too... 365 00:22:48,000 --> 00:22:50,320 ...and that too, by using banks as a front. 366 00:22:52,080 --> 00:22:53,440 They're getting a commission. 367 00:22:54,280 --> 00:22:55,720 He calls it 'bankerage'! 368 00:22:56,760 --> 00:23:00,280 And the banks are doing it happily. Even SBI. 369 00:23:01,640 --> 00:23:02,960 No, no, no, A.K. 370 00:23:03,960 --> 00:23:04,960 This is serious. 371 00:23:06,200 --> 00:23:09,320 I've always said, it's a crime for brokers to take any position. 372 00:23:10,280 --> 00:23:12,120 And all this makes Harshad our competition now. 373 00:23:13,960 --> 00:23:15,760 We must keep a close eye on all his actions. 374 00:23:16,560 --> 00:23:17,960 And I mean, all actions. 375 00:23:19,120 --> 00:23:21,000 I need the details of all his transactions. 376 00:23:22,960 --> 00:23:24,720 We can't be caught napping on this. 377 00:23:25,400 --> 00:23:26,120 No. 378 00:23:26,560 --> 00:23:29,000 [Pranav] 'I said, why would I take a favour from you for such a small matter?' 379 00:23:29,120 --> 00:23:30,440 'I'd come to you for something big.' 380 00:23:34,040 --> 00:23:35,320 - Not for me. - Huh? 381 00:23:36,280 --> 00:23:37,960 One foot in the money market... and you've given up sweets? 382 00:23:38,120 --> 00:23:39,800 Not given up... ...just controlling. 383 00:23:40,040 --> 00:23:41,720 When did you start controlling yourself? 384 00:23:43,440 --> 00:23:45,480 Well, these days, aren't you the one who's out of control? 385 00:23:46,480 --> 00:23:49,440 I've seen how high you've pushed ACC... out of control. 386 00:23:52,720 --> 00:23:54,360 Keeping tabs on the market, huh? 387 00:23:56,200 --> 00:23:57,680 Looks like the cheetah is missing his jungle! 388 00:23:59,200 --> 00:24:02,120 But the word is, it's time to ditch ACC. 389 00:24:03,480 --> 00:24:05,160 Manu Bhai and his men are targeting it. 390 00:24:05,560 --> 00:24:08,320 If they start shorting, I don't have the funds to hold on. 391 00:24:09,480 --> 00:24:11,200 This is the problem with us Bulls. 392 00:24:11,760 --> 00:24:15,400 The moment we depend on the market for funds, those bears get to know. 393 00:24:21,600 --> 00:24:23,040 By the way, how much do you need? 394 00:24:28,960 --> 00:24:30,520 [Harshad] 'This is the right time to get back into the market.' 395 00:24:30,800 --> 00:24:33,480 [Ashwin] 'Sure. Who's stopping you?' 396 00:24:33,960 --> 00:24:35,720 But don't go after ACC. 397 00:24:36,920 --> 00:24:40,880 Look, if Pranav doesn't have the funds, it's not like we have a treasure chest. 398 00:24:43,120 --> 00:24:44,960 Canara Bank wanted to buy some securities, right? 399 00:24:44,960 --> 00:24:46,200 They were to send a cheque? 400 00:24:47,240 --> 00:24:48,640 There it is. 401 00:24:50,840 --> 00:24:52,360 Harshad, whom should we buy the bonds from? 402 00:24:53,560 --> 00:24:54,800 Grindlays will have, right? 403 00:24:55,840 --> 00:24:59,720 Once we get the BRs, I'll deliver them personally to Canara Bank. 404 00:25:00,200 --> 00:25:02,080 It's been a while since I've been there. 405 00:25:03,360 --> 00:25:05,400 Let's deposit all these cheques into our account today. 406 00:25:06,080 --> 00:25:08,080 Canara Bank needs the securities after ten days. 407 00:25:09,640 --> 00:25:11,000 Harshad, you... 408 00:25:11,880 --> 00:25:13,440 Are you out of your mind? 409 00:25:13,640 --> 00:25:14,960 This is not our money. 410 00:25:16,120 --> 00:25:18,880 If we want to get back in the market, this is our treasure chest. 411 00:25:19,840 --> 00:25:21,480 Harshad, it's a ready forward deal. 412 00:25:22,200 --> 00:25:25,560 Once the BR expires, we'll have to return the money. 413 00:25:25,640 --> 00:25:27,960 And we will. We have ten whole days. 414 00:25:28,520 --> 00:25:30,880 Till then, this money will be rotting away in our account in any case. 415 00:25:31,880 --> 00:25:34,920 If we invest it in the market, the money will grow and so will the market. 416 00:25:35,000 --> 00:25:37,800 And when it comes out in the open, our troubles will grow too. 417 00:25:37,880 --> 00:25:40,680 There won't be any trouble. We are not stealing. 418 00:25:41,480 --> 00:25:44,680 The money is lying in our account. What we do with it is nobody's concern. 419 00:25:44,920 --> 00:25:47,320 Imagine. How much profit we can make in 10 days! 420 00:25:59,080 --> 00:26:02,440 [Sucheta] 'The Bull was back in BSE.' 421 00:26:05,720 --> 00:26:08,800 'And his first bet, was on ACC.' 422 00:26:08,960 --> 00:26:11,000 'The bears were destroying ACC.' 423 00:26:11,120 --> 00:26:13,560 'But they didn't have even the slightest hint...' 424 00:26:13,640 --> 00:26:15,960 '...that this time, Harshad didn't just have money...' 425 00:26:16,080 --> 00:26:18,240 '...he had the whole bazaar of wealth.' 426 00:26:18,920 --> 00:26:21,120 'Often, to save time in security dealings, 427 00:26:21,200 --> 00:26:23,520 'banks would deposit funds directly into brokers' accounts' 428 00:26:23,640 --> 00:26:26,360 'so that the broker could crack the best deals before buying.' 429 00:26:26,480 --> 00:26:28,320 'Harshad saw the loophole here.' 430 00:26:28,400 --> 00:26:32,200 'With this money now lying in his account, he began investing in the share market again.' 431 00:26:35,760 --> 00:26:37,080 'It was a slow system...' 432 00:26:37,160 --> 00:26:41,080 '...so the money would often remain in the brokers' account for upto a fortnight.' 433 00:26:41,200 --> 00:26:43,560 'It was readily available for Harshad to use as his own...' 434 00:26:43,680 --> 00:26:46,280 '...and push up any stock he liked.' 435 00:27:02,080 --> 00:27:04,560 'By rotating banking funds in the share market...' 436 00:27:04,640 --> 00:27:06,520 '...he was making so much profit...' 437 00:27:06,640 --> 00:27:09,840 '...that he began making money market deals at lower commissions.' 438 00:27:12,440 --> 00:27:14,400 'Banks were getting the best deals...' 439 00:27:14,480 --> 00:27:17,080 'And Harshad was making more and more profit.' 440 00:27:17,240 --> 00:27:20,320 'The money market had turned into a money-making market for him.' 441 00:27:20,440 --> 00:27:21,720 Sure, we can join this. 442 00:27:22,280 --> 00:27:27,320 Madam, a flat this big in Bombay at such a prime location, is rare. 443 00:27:50,800 --> 00:27:52,920 The Sensex is touching 1400. 444 00:27:53,520 --> 00:27:55,640 At 1600 we should start selling. 445 00:27:56,160 --> 00:27:57,520 I hope you are okay with that. 446 00:27:57,760 --> 00:27:59,160 Share markets are your territory. 447 00:27:59,960 --> 00:28:01,480 Do what you feel is best. 448 00:28:03,400 --> 00:28:06,640 But, what if the index rises even more? 449 00:28:07,120 --> 00:28:08,640 Harshad is being really bullish. 450 00:28:09,280 --> 00:28:12,520 Come on! Come on, who is he? How much money does he have? 451 00:28:13,320 --> 00:28:15,160 He can't just go on buying more and more. 452 00:28:16,120 --> 00:28:18,120 See, you are not getting the point. 453 00:28:19,280 --> 00:28:20,760 He has the funds. 454 00:28:21,840 --> 00:28:25,480 He's using banking funds to push up the markets. 455 00:28:28,120 --> 00:28:29,280 He's caught on quick? 456 00:28:30,240 --> 00:28:32,160 He's using a trick out of our book. 457 00:28:32,800 --> 00:28:37,840 The only difference is that we do it safely, and in a classy way. 458 00:28:38,400 --> 00:28:41,320 And he does it in a classless, crude way. 459 00:28:41,680 --> 00:28:42,640 No... 460 00:28:43,640 --> 00:28:45,240 We need a strategy to stop him. 461 00:28:47,000 --> 00:28:49,400 Let's use our banking funds to short the markets. 462 00:28:53,400 --> 00:28:54,960 We have to do whatever we can. 463 00:28:56,760 --> 00:28:58,560 Attack, divide, engage... 464 00:28:59,840 --> 00:29:00,720 ...and defeat. 465 00:29:05,160 --> 00:29:07,520 Stanchart wants securities worth 200 crores. 466 00:29:08,000 --> 00:29:10,240 - So? - What do you mean, 'so'? 467 00:29:11,640 --> 00:29:14,880 None of our banks hold such a huge amount of securities. 468 00:29:15,880 --> 00:29:16,720 Tell me something. 469 00:29:16,720 --> 00:29:19,600 How often have we delivered physical securities to banks? 470 00:29:21,440 --> 00:29:23,080 Have we ever handed them over in person? 471 00:29:23,640 --> 00:29:26,480 But brother, we have to give BRs as proof, don't we? 472 00:29:27,240 --> 00:29:28,440 Once the bank gives the receipt, 473 00:29:28,520 --> 00:29:30,360 It means they're confirming that the securities received. 474 00:29:30,760 --> 00:29:32,440 Think like a donkey and you'll remain one. 475 00:29:32,720 --> 00:29:33,520 What? 476 00:29:33,720 --> 00:29:35,840 Stanchart wants BRs worth 200 crores, right? 477 00:29:36,360 --> 00:29:37,880 - Yes. - So, we'll give BRs. 478 00:29:38,680 --> 00:29:40,200 Isn't that what Citibank cartel does? 479 00:29:43,880 --> 00:29:47,760 'Harshad Bhai, how can I do what you are asking me to?' 480 00:29:48,040 --> 00:29:50,480 - This is not legal. - There's nothing wrong in it. 481 00:29:50,960 --> 00:29:55,600 But if I don't have the securities, how can I issue BRs to them...? 482 00:29:56,160 --> 00:30:00,920 How can I sell something I don't have and give you a receipt for it? 483 00:30:01,600 --> 00:30:04,440 - This is wrong. - This is not wrong. It's survival. 484 00:30:05,480 --> 00:30:08,640 I'm aware that you don't even have funds to pay salaries. 485 00:30:09,520 --> 00:30:11,880 So, this is a sure-shot way to rescue your bank from its losses. 486 00:30:12,000 --> 00:30:13,120 It's very simple. 487 00:30:13,560 --> 00:30:15,360 Stanchart wants securities worth 200 crores? 488 00:30:15,960 --> 00:30:16,960 You just issue the BRs. 489 00:30:17,960 --> 00:30:19,160 Give them the receipt. 490 00:30:19,800 --> 00:30:22,040 As soon as they get the receipt, 200 crores will be in your account. 491 00:30:22,800 --> 00:30:25,280 Of which, 4 crores will be yours. Bankerage. 492 00:30:26,680 --> 00:30:28,560 Within 15 days, I'll return 200 crores to them. 493 00:30:28,640 --> 00:30:30,960 They'll return the BRs to you. Then tear them off, if you like. 494 00:30:32,080 --> 00:30:34,240 They will get the securities. 495 00:30:34,560 --> 00:30:35,720 You will get a commission. 496 00:30:36,440 --> 00:30:38,920 Citibank does all its business through BRs. 497 00:30:39,680 --> 00:30:40,920 And look sir, even you know, 498 00:30:41,000 --> 00:30:43,360 that physical securities are never exchanged in any deal. 499 00:30:47,520 --> 00:30:51,560 [Sucheta] 'By the end of 1990, India was heading towards an economic crisis...' 500 00:30:51,600 --> 00:30:53,120 'The RBI Governor knew...' 501 00:30:53,200 --> 00:30:56,320 '...banks will play a pivotal role in India's economic revival.' 502 00:30:56,440 --> 00:30:59,440 'But the RBI had also begun to notice irregularities...' 503 00:30:59,560 --> 00:31:01,640 '...in the security dealings of banks.' 504 00:31:01,680 --> 00:31:03,680 'But this was a pre-digital era' 505 00:31:03,760 --> 00:31:06,440 '...when it often took days to trace a transaction.' 506 00:31:06,560 --> 00:31:08,480 '...and months to locate a file.' 507 00:31:08,600 --> 00:31:11,200 'For RBI, this was going to be a tedious battle.' 508 00:31:13,600 --> 00:31:16,360 United Bank of India, Bank of Baroda. 509 00:31:17,160 --> 00:31:19,240 Bank of India, Canara Bank and Indian Bank. 510 00:31:20,520 --> 00:31:23,520 Talk to the Department of Banking Operations and Development. 511 00:31:24,560 --> 00:31:26,720 I want the security departments of all these banks... 512 00:31:26,760 --> 00:31:28,080 ...thoroughly checked and inspected. 513 00:31:29,520 --> 00:31:30,800 Sir... Uh... 514 00:31:33,320 --> 00:31:35,680 - Yes, Ghosh? - Sir, Citibank? 515 00:31:40,000 --> 00:31:42,160 Hmmm. It's a foreign bank. We have to be careful. 516 00:31:43,440 --> 00:31:46,120 Our economy is still recovering. It hasn't stabilised yet. 517 00:31:48,160 --> 00:31:50,240 We are still dependent on the loans arranged by them. 518 00:31:52,280 --> 00:31:53,320 Do one thing. 519 00:31:54,320 --> 00:31:55,680 Give them an informal warning. 520 00:31:58,200 --> 00:31:59,080 And, Ghosh... 521 00:32:00,920 --> 00:32:02,400 Make it look like a regular audit. 522 00:32:03,280 --> 00:32:04,480 Not an investigation. 523 00:32:05,920 --> 00:32:08,040 The matter shouldn't leave this room. 524 00:32:08,640 --> 00:32:10,920 The Press mustn't get to know of it. Thank you. 525 00:32:11,040 --> 00:32:13,640 And which is the fifth bank? Indian Bank? 526 00:32:14,040 --> 00:32:15,200 Great. Are you sure? 527 00:32:15,800 --> 00:32:17,960 And you're sure there will be inspections in all these banks today? 528 00:32:18,360 --> 00:32:20,480 [Man] 'Madam, these are only the first five banks.' 529 00:32:21,120 --> 00:32:23,120 'The RBI will go after other banks too.' 530 00:32:23,920 --> 00:32:25,800 'All these b******s stand exposed now.' 531 00:32:25,880 --> 00:32:27,840 'Even small banks like Bank of Karaj' 532 00:32:28,240 --> 00:32:30,080 'No account of securities there either.' 533 00:32:30,200 --> 00:32:33,120 So, what's RBI planning? I mean, what's their next step going to be? 534 00:32:33,720 --> 00:32:36,640 [Man] 'As usual, they'll issue a circular on the buying and selling of securities.' 535 00:32:36,760 --> 00:32:38,040 'RBI will issue new rules.' 536 00:32:38,160 --> 00:32:39,720 'And they'll add some more points, what else?' 537 00:32:40,240 --> 00:32:41,640 Can you link me to any broker? 538 00:32:41,800 --> 00:32:44,640 [Man] 'Oh no. Unless the news of this inspection goes public...' 539 00:32:44,760 --> 00:32:46,960 '...all the brokers will keep their mouth shut.' 540 00:32:47,320 --> 00:32:49,160 'Does anybody ever speak without a reason?' 541 00:32:49,240 --> 00:32:51,080 But reasons can be created, right? 542 00:32:52,320 --> 00:32:55,920 [Sucheta] 'While both Harshad and the RBI kept their sights focused on the banks' 543 00:32:56,000 --> 00:32:58,800 'I was focused on my new job with The Times of India.' 544 00:32:59,400 --> 00:33:02,760 'None of us knew that our paths were going to cross very soon.' 545 00:33:03,400 --> 00:33:06,200 Nor is there the name of a bank nor a source. 546 00:33:07,360 --> 00:33:09,400 Sucheta, without any names, I can't print this. 547 00:33:09,560 --> 00:33:11,240 My source works in one of these banks. 548 00:33:11,280 --> 00:33:12,440 The story is 100 percent legit. 549 00:33:12,560 --> 00:33:14,840 Maybe. But can anyone confirm it? 550 00:33:15,200 --> 00:33:17,080 - I can't. - Rajdeep, this story is huge... 551 00:33:17,160 --> 00:33:19,160 ...And it will only get bigger, but only if you print this. 552 00:33:19,560 --> 00:33:22,400 -[Rajdeep] 'Sucheta, you know my answer.' - You need to trust me. 553 00:33:22,600 --> 00:33:24,760 When the rest of the media was singing Rajan Pillai's praises... 554 00:33:24,840 --> 00:33:27,800 ...I was the one who reported his brush with the law in Singapore and it snowballed. 555 00:33:27,960 --> 00:33:30,360 I have the same hunch with this. Print it. 556 00:33:30,600 --> 00:33:32,400 Only then will everyone in the banking system know... 557 00:33:32,480 --> 00:33:34,560 ...that inside information can't stay hidden forever. 558 00:33:35,000 --> 00:33:37,760 And if we print this, and no one opens their mouth after that... 559 00:33:38,560 --> 00:33:41,040 Then? I can't risk putting this on the front page. 560 00:33:45,480 --> 00:33:48,160 - Where will you put it? - The financial section. 561 00:33:52,040 --> 00:33:53,880 No chance, sir. No chance. 562 00:33:54,160 --> 00:33:56,840 I'm absolutely sure, this information hasn't leaked from our end. 563 00:33:57,000 --> 00:33:58,040 It's from some bank. 564 00:33:58,480 --> 00:34:00,600 But since this news is already out in the open... 565 00:34:00,960 --> 00:34:04,520 ...can we announce a proper audit to confirm the irregularities? 566 00:34:07,480 --> 00:34:09,000 The public doesn't want an audit. 567 00:34:10,320 --> 00:34:11,800 No, Ghosh, that won't work. 568 00:34:13,720 --> 00:34:16,480 Issue a directive and share it with the press. 569 00:34:17,600 --> 00:34:19,440 Everyone must know clearly... 570 00:34:19,480 --> 00:34:22,600 ...that the RBI has issued strict guidelines on the use of BRs. 571 00:34:27,840 --> 00:34:30,280 [Tyagi] 'Kedia told me that you've refused all ready forward deals?' 572 00:34:31,640 --> 00:34:33,240 'Sir, The RBI is on our tail, sir.' 573 00:34:33,360 --> 00:34:35,160 But where is the problem if you're all covered up? 574 00:34:36,200 --> 00:34:38,760 Sir, RBI has issued a new circular. 575 00:34:39,240 --> 00:34:40,640 Haven't you read the guidelines, Sir? 576 00:34:42,960 --> 00:34:45,400 Look at this, sir. These are strict orders. 577 00:34:45,760 --> 00:34:47,400 "All ready forward transactions..." 578 00:34:47,760 --> 00:34:50,440 "...whether through the mechanism of SGL or BR..." 579 00:34:50,840 --> 00:34:53,440 "...should be reflected on the same day in its investment account." 580 00:34:54,280 --> 00:34:56,520 "Transactions between one bank and another bank..." 581 00:34:56,840 --> 00:34:58,880 "...should not be put through the brokers' accounts." 582 00:34:59,600 --> 00:35:02,840 "Banks should not act as agents for any broker clients." 583 00:35:04,360 --> 00:35:05,720 And the most important part. 584 00:35:06,640 --> 00:35:09,360 "All transactions should be at market rates, strictly." 585 00:35:10,520 --> 00:35:11,320 And... 586 00:35:11,720 --> 00:35:14,520 - You never deal at market rates. - Stop it. 587 00:35:15,240 --> 00:35:16,800 It's RBI, not the CBI. 588 00:35:17,680 --> 00:35:19,320 And these are guidelines, not the law. 589 00:35:19,960 --> 00:35:20,880 And this is India. 590 00:35:21,680 --> 00:35:23,240 [Tyagi] 'You know nothing ever happens here.' 591 00:35:24,400 --> 00:35:26,560 And look, if you want to stay in business... 592 00:35:27,480 --> 00:35:28,800 ...then you'll have to do business, right? 593 00:35:29,560 --> 00:35:31,040 I'm sorry, Mr. Tyagi. 594 00:35:32,120 --> 00:35:34,200 But we'll stick to the guidelines for any business. 595 00:35:38,440 --> 00:35:40,720 You tell me. Am I old? 596 00:35:41,520 --> 00:35:44,000 This new generation just won't listen. 597 00:35:44,640 --> 00:35:48,440 They call the experienced, old and push us away. 598 00:35:48,960 --> 00:35:50,480 I told my son... 599 00:35:50,640 --> 00:35:53,560 ...that the money market is a mess. Don't get into it. 600 00:35:53,800 --> 00:35:57,840 But he didn't listen. And look. Today, every deal is a struggle. 601 00:35:58,080 --> 00:36:00,560 Suresh, a person is only as old as his thoughts. 602 00:36:00,720 --> 00:36:01,920 Age is just a number. 603 00:36:02,320 --> 00:36:05,080 -[Suresh] 'Why don't you explain this to my son?' - But you never introduced us! 604 00:36:05,520 --> 00:36:08,920 I would've explained all about age and also taken a follow-up on that fake BR story. 605 00:36:09,080 --> 00:36:11,400 Oh. So, I'm useless now? 606 00:36:11,560 --> 00:36:12,840 New source. New story? 607 00:36:12,880 --> 00:36:15,040 Suresh... Okay, why do I call you Suresh? 608 00:36:15,440 --> 00:36:17,200 Because you're a friend and not just a source. 609 00:36:17,360 --> 00:36:19,320 Everyone has suppressed the BR story. 610 00:36:19,640 --> 00:36:21,240 And if I don't get a follow-up, it will die. 611 00:36:22,200 --> 00:36:24,040 Okay, I'll talk to him when I see him. 612 00:36:24,160 --> 00:36:25,920 - He might agree. - Isn't he in the office? 613 00:36:26,320 --> 00:36:28,520 He's in office 24/7. 614 00:36:28,840 --> 00:36:32,640 But despite being next-door... he doesn't even talk to me, let alone meeting. 615 00:36:34,480 --> 00:36:36,640 Okay. I'll take your leave. 616 00:36:47,160 --> 00:36:47,760 [Sucheta] 'Sorry...' 617 00:36:47,880 --> 00:36:50,040 - I just need two minutes. - What... What are you doing here? 618 00:36:50,280 --> 00:36:51,840 I am Sucheta Dalal from Times of India. 619 00:36:51,920 --> 00:36:52,800 [DT] 'I know who you are.' 620 00:36:53,200 --> 00:36:54,440 I don't want to speak to you. 621 00:36:54,520 --> 00:36:56,320 Listen, it's okay. Your father already knows me. 622 00:36:56,400 --> 00:36:58,800 - I just need a little bit of info... - Do you want me to call the security? 623 00:36:59,120 --> 00:37:00,600 No no... Please, don't misunderstand me. 624 00:37:00,640 --> 00:37:02,240 - I just need a little bit of info... -[bell rings] 625 00:37:02,920 --> 00:37:03,800 Please leave. 626 00:37:04,640 --> 00:37:07,840 Okay, your father has my number if you ever want to talk. 627 00:37:10,120 --> 00:37:11,920 Okay. Sorry. Thank you. 628 00:37:16,160 --> 00:37:20,440 The RBI is checking every line from every page of every book. 629 00:37:21,800 --> 00:37:22,920 Okay. Let's talk like bankers. 630 00:37:23,960 --> 00:37:25,000 Forget the securities. 631 00:37:25,560 --> 00:37:27,400 I'm sure you can give me a loan? 632 00:37:28,120 --> 00:37:29,600 Tell me. What line of credit can you offer? 633 00:37:30,320 --> 00:37:32,440 To give a loan, I need funds, don't I? 634 00:37:32,960 --> 00:37:36,960 I'm not refusing. But we're facing a major crunch for funds. 635 00:37:37,520 --> 00:37:39,200 You too are stranded because of funds, huh? 636 00:37:41,800 --> 00:37:43,120 Okay. What if I bring customers... 637 00:37:44,320 --> 00:37:46,240 ...who will deposit large amounts in this bank? 638 00:37:47,040 --> 00:37:48,080 Then you will give me a loan, right? 639 00:37:50,160 --> 00:37:53,800 [Sucheta] 'RBI had chained the whole system with its guidelines.' 640 00:37:54,040 --> 00:37:58,000 'Harshad knew that even the bear cartel was on a dry-run with no cash.' 641 00:37:58,120 --> 00:38:00,920 'This was the time to get ahead of them.' 642 00:38:01,200 --> 00:38:04,240 Docking charges, fuel charges... altogether... 643 00:38:04,360 --> 00:38:07,240 ...they make a weekly collection of 20 to 25 crores. 644 00:38:08,720 --> 00:38:09,760 And that too, liquid. 645 00:38:10,760 --> 00:38:12,960 Everything is liquid at the docks and in the sea. 646 00:38:14,720 --> 00:38:15,600 Just imagine... 647 00:38:16,480 --> 00:38:19,400 What if we channelize all their funds to RICO? 648 00:38:20,320 --> 00:38:22,480 Then the funds will eventually come back to us. 649 00:38:23,440 --> 00:38:26,520 Wait a minute, brother. Tell me something. Are you a king? 650 00:38:27,520 --> 00:38:28,440 Or a LO.O.T.SE.SEA? 651 00:38:28,640 --> 00:38:31,120 - LO.O.T.SE.SEA? - Lord Of The Seven Seas? 652 00:38:31,440 --> 00:38:35,320 That you will beckon, and the docks will pour their entire fund into RICO? 653 00:38:35,760 --> 00:38:37,040 Rubbish! 654 00:38:39,280 --> 00:38:40,960 Everyone bows down to profit. 655 00:38:41,560 --> 00:38:43,600 And I know how to weave a story about profit. 656 00:38:43,800 --> 00:38:46,680 And Bhushan, where these funds should be invested... 657 00:38:46,800 --> 00:38:47,920 ...is the prerogative of the chairman. 658 00:38:48,000 --> 00:38:49,640 All we have to do, is convince the chairman. 659 00:38:50,120 --> 00:38:54,040 And what is this story you plan to weave? Please explain. 660 00:38:54,440 --> 00:38:56,520 Look, RICO has no funds to give a loan. 661 00:38:56,720 --> 00:38:58,440 If this money goes there, they'll get funds... 662 00:38:58,600 --> 00:38:59,560 ...and we'll get a loan. 663 00:38:59,840 --> 00:39:01,720 What's the interest rate for a loan? 11 percent? 664 00:39:02,280 --> 00:39:04,360 Assume, we take this loan at 12 percent. 665 00:39:04,720 --> 00:39:07,800 [Bhushan] 'That means, one percent for the chairman.' 666 00:39:08,520 --> 00:39:11,040 'But brother, the money will still go from our pocket, right?' 667 00:39:11,160 --> 00:39:12,360 [Harshad] 'So, let it.' 668 00:39:12,800 --> 00:39:15,320 'When we invest this loan in the market and make a huge profit... ' 669 00:39:15,360 --> 00:39:17,200 '...this one or two percent will fade in comparison.' 670 00:39:21,120 --> 00:39:23,800 Look, Mr. Gaithonde, you have to deposit your money in one bank or the other. 671 00:39:24,760 --> 00:39:26,400 Why don't you deposit it in RICO bank this time? 672 00:39:28,320 --> 00:39:29,720 You will earn an interest from the bank... 673 00:39:29,840 --> 00:39:31,760 ...but I'm interested in your interest too. 674 00:39:32,720 --> 00:39:33,600 You understand, don't you? 675 00:39:35,080 --> 00:39:37,160 Give me some time. Let me think about it. 676 00:39:41,560 --> 00:39:43,440 Come, let me explain. 677 00:39:45,200 --> 00:39:47,960 Look, I'm a man of the share market. 678 00:39:49,360 --> 00:39:51,800 So, rather than in time, I believe in instant deals. 679 00:39:54,120 --> 00:39:56,440 If we give it too much time, the value might drop. 680 00:39:58,520 --> 00:40:01,160 And the value of this deal might drop too. 681 00:40:02,760 --> 00:40:05,360 Are you sure Amitabh Bachchan gets his suits made here? 682 00:40:05,480 --> 00:40:06,800 Yes. Mine too. 683 00:40:07,680 --> 00:40:08,560 That's good. 684 00:40:09,400 --> 00:40:11,280 Harshad is no less than the Bachchan of BSE. 685 00:40:11,920 --> 00:40:14,720 Our angry young man, who's taken on the cartel all alone. 686 00:40:14,760 --> 00:40:15,720 - Right? - Yeah. 687 00:40:16,960 --> 00:40:19,040 And, Mr. Jobber, life isn't a movie... 688 00:40:19,040 --> 00:40:21,240 ...with an interval for popcorns and snacks. 689 00:40:21,320 --> 00:40:23,400 Life keeps changing. Nothing's permanent. 690 00:40:23,720 --> 00:40:24,600 What do you say, Harshad? 691 00:40:25,040 --> 00:40:26,240 It can be permanent. 692 00:40:26,320 --> 00:40:28,120 If funds keep flowing, we will be permanent bulls. 693 00:40:28,360 --> 00:40:29,240 Not just Bull. 694 00:40:30,080 --> 00:40:31,000 Big Bull. 695 00:40:31,360 --> 00:40:33,960 Hey, all banks are in RBI's radar. 696 00:40:34,440 --> 00:40:36,560 They have to consult the RBI even before they fart. 697 00:40:36,880 --> 00:40:39,120 Gone are the old ways of conducting security business. 698 00:40:40,240 --> 00:40:43,120 You know Sucheta Dalal, from Times of India? She's writing an article. 699 00:40:44,280 --> 00:40:45,960 If your name crops up in relation to BRs... 700 00:40:45,960 --> 00:40:47,760 ...she'll be knocking at your door. Be careful. 701 00:40:48,280 --> 00:40:50,240 And what will she do once she reaches me? Huh? 702 00:40:50,840 --> 00:40:52,440 I don't deal in securities anymore. 703 00:40:53,640 --> 00:40:55,080 What do you mean you don't deal in securities? 704 00:40:55,680 --> 00:40:58,840 What I mean Pranav Bhai... is that there is a ton of government money... 705 00:40:58,960 --> 00:41:00,240 ...gathering dust in PSUs. 706 00:41:01,000 --> 00:41:02,280 So, let's invest that money in BSE. 707 00:41:03,960 --> 00:41:05,920 Government must earn some profit too, right? 708 00:41:08,200 --> 00:41:11,240 Sir, frankly speaking, government PSUs need a fresh approach. 709 00:41:12,000 --> 00:41:15,680 You know well, ONGC has so much money, but no plan. 710 00:41:16,920 --> 00:41:20,680 In fact, when we discussed our ideas with the minister, he clearly said... 711 00:41:21,160 --> 00:41:23,440 ..."Go meet Mr. Nawalakha. He is the man with a vision". 712 00:41:24,880 --> 00:41:26,000 But, Mr. Mehta... 713 00:41:26,640 --> 00:41:27,960 This is the government's money. 714 00:41:28,240 --> 00:41:30,960 We can't allow it to be invested in the stock market. 715 00:41:31,480 --> 00:41:33,200 But that's not what I'm saying. 716 00:41:33,960 --> 00:41:37,120 All I'm saying is, invest in the PMS schemes of banks. 717 00:41:39,360 --> 00:41:42,240 Look, sir. My job is to make profit. 718 00:41:42,480 --> 00:41:44,600 And I will make profit for the government too. 719 00:41:45,120 --> 00:41:46,920 We just need to match our vision. 720 00:41:57,840 --> 00:42:00,760 [Sucheta] 'Now, Harshad had Such a source of money...' 721 00:42:00,880 --> 00:42:03,240 '...which nobody could have imagined.' 722 00:42:04,040 --> 00:42:05,520 'Not just ONGC...' 723 00:42:05,640 --> 00:42:07,760 '...but huge public sectors units like Coal India...' 724 00:42:07,880 --> 00:42:10,600 '...NHPC, NTPC, and IRFC money...' 725 00:42:10,680 --> 00:42:13,200 '...started getting invested in the bank PMSs directly...' 726 00:42:13,320 --> 00:42:15,400 '...and indirectly, in the share market.' 727 00:42:15,560 --> 00:42:26,120 "This world is but a halt..." "and everyone a traveller..." 728 00:42:26,240 --> 00:42:31,800 "why then does the foolish man trap himself... ...in the trappings of wealth and fame..." 729 00:42:32,040 --> 00:42:37,400 "...don't trust this moment... ...soon it will be gone, before you know where..." 730 00:42:37,480 --> 00:42:41,320 "...After all, life is but a two-day fair..." 731 00:42:41,400 --> 00:42:42,960 But some people ask a lot of questions. 732 00:42:43,080 --> 00:42:45,360 "What does the company do? What does it produce?" 733 00:42:45,640 --> 00:42:47,720 Nobody wants to invest for the long term. 734 00:42:48,120 --> 00:42:49,920 Book your profits and pull out. 735 00:42:50,640 --> 00:42:51,640 Then tell them... 736 00:42:52,200 --> 00:42:54,200 ...Mazda is Harshad Mehta's company. 737 00:42:54,320 --> 00:42:55,440 That's all it takes. 738 00:42:55,480 --> 00:42:56,680 This is insider news. 739 00:42:57,040 --> 00:42:59,480 Harshad Bhai has invested in Mazda Industries. 740 00:43:00,200 --> 00:43:02,600 Now see how it zooms. 741 00:43:03,360 --> 00:43:05,680 [Sucheta] 'Harshad was fast becoming a market legend.' 742 00:43:06,040 --> 00:43:08,960 'One signal from him, and the tide would turn in the market.' 743 00:43:09,440 --> 00:43:12,520 'On Harshad's word, unheard-of companies like Mazda...' 744 00:43:12,600 --> 00:43:14,680 '...also caught people's attention.' 745 00:43:15,360 --> 00:43:19,880 [Sucheta] 'But 1991 was a strange time for the Indian economy.' 746 00:43:20,160 --> 00:43:21,760 'In the middle of an economic crisis...' 747 00:43:21,880 --> 00:43:23,720 '...The Chandrashekhar government was dissolved.' 748 00:43:24,280 --> 00:43:28,520 'The next election took place in the midst of Mandal Commission protests.' 749 00:43:29,000 --> 00:43:31,680 'It was tough to guess the election result...' 750 00:43:32,000 --> 00:43:34,040 'But after the first round of voting...' 751 00:43:34,160 --> 00:43:37,240 '...ex-Prime Minister Rajiv Gandhi was assassinated.' 752 00:43:37,320 --> 00:43:39,240 'And when the election results were announced...' 753 00:43:39,320 --> 00:43:42,600 '...a minority government was formed under P. V. Narasimha Rao.' 754 00:43:43,240 --> 00:43:46,120 'But none of this impacted the share market.' 755 00:43:46,840 --> 00:43:50,520 'Harshad took the BSE index to astronomical heights.' 756 00:43:50,800 --> 00:43:53,680 'Now, there was no one to stop his Bull Run.' 757 00:43:53,800 --> 00:44:06,160 "You will take nothing with you, my friend." 758 00:44:09,560 --> 00:44:17,760 "You came empty-handed And that's how you will go, my friend." 759 00:44:18,200 --> 00:44:21,880 'Before Harshad, no one had made such wealth in the market.' 760 00:44:21,960 --> 00:44:26,000 'His lifestyle was no less than a celebrity or a film star.' 761 00:44:26,120 --> 00:44:27,600 'With his rags to riches story...' 762 00:44:27,720 --> 00:44:30,040 '...he had become a hero for every common Indian.' 763 00:44:30,960 --> 00:44:33,520 'And everybody wanted to be Harshad Mehta.' 764 00:44:35,800 --> 00:44:37,360 Isn't this a bit much? 765 00:44:42,560 --> 00:44:45,000 This Harshad Mehta is crossing the line now. 766 00:44:46,760 --> 00:44:49,920 The m**********r is crossing his limits. 767 00:44:50,040 --> 00:44:54,200 ”Of this body and this soul there's only one truth” 768 00:44:54,320 --> 00:44:59,720 ”You must watch your actions to reap destiny's sweet fruit” 769 00:45:00,240 --> 00:45:05,480 ”So say the great saints this world is a false affair” 770 00:45:05,560 --> 00:45:10,800 "...After all, life is but a two-day fair..." 771 00:45:10,920 --> 00:45:16,200 ”What did you bring into this world And what can you take away from this world.” 772 00:45:16,280 --> 00:45:32,200 "...After all, life is but a two-day fair..." 773 00:45:32,840 --> 00:45:34,720 The logic of the stock market is very easy. 774 00:45:34,800 --> 00:45:37,360 Close your eyes, pick any stock and invest in it. 775 00:45:37,760 --> 00:45:40,480 The chances of winning or losing are always 50-50. 776 00:45:41,960 --> 00:45:43,560 Don't laugh, it's a fact. 777 00:45:44,440 --> 00:45:48,200 Did you know, in 1964 in the US, a monkey was made to select 15 scrips. 778 00:45:49,120 --> 00:45:51,360 'That too, by throwing darts with a blindfold.' 779 00:45:53,880 --> 00:45:56,680 And at the same time, a financial expert selected another 15 scrips. 780 00:45:57,280 --> 00:45:58,240 What was the result? 781 00:45:58,920 --> 00:46:01,000 The 15 scrips selected by the monkey, won. 782 00:46:02,720 --> 00:46:04,000 They made a huge profit. 783 00:46:04,920 --> 00:46:08,000 The market has a simple philosophy. Invest, and relax. 784 00:46:08,320 --> 00:46:10,200 - Even he did the same. - No... 785 00:46:10,680 --> 00:46:11,800 I mean yes, a little bit. 786 00:46:13,160 --> 00:46:15,880 Uncle, can I get your autograph, please? 787 00:46:21,560 --> 00:46:23,840 Dear, they call me Amitabh Bachchan, but I'm actually not him. 788 00:46:29,400 --> 00:46:31,400 I had told you, I don't want these old ones. 789 00:46:31,520 --> 00:46:32,480 Show me something new. 790 00:46:32,920 --> 00:46:34,920 This is the car of the King of Partan, Harshad Bhai. 791 00:46:35,760 --> 00:46:37,160 A single piece in all of India. 792 00:46:37,720 --> 00:46:39,560 And it has a 1200 CC engine. 793 00:46:40,800 --> 00:46:42,240 Darling, this is my time. 794 00:46:42,640 --> 00:46:45,000 So not just your King's car, I can buy his palace. 795 00:46:46,200 --> 00:46:48,960 - Show me something new. Imported. -[Dealer] 'You know how it is with imported cars.' 796 00:46:49,280 --> 00:46:51,040 We hardly get one in a month. 797 00:46:51,840 --> 00:46:53,640 There's a Lexus coming from Dubai next month. 798 00:46:54,680 --> 00:46:55,720 But, Ajay Kedia... 799 00:46:56,840 --> 00:46:57,880 'You might know him.' 800 00:46:58,440 --> 00:47:00,600 His company has already booked it. 801 00:47:04,040 --> 00:47:04,800 How much is it? 802 00:47:05,560 --> 00:47:08,040 - Harshad Bhai, I'll show you something else. - How much is it? 803 00:47:09,040 --> 00:47:09,840 It's 45 lakhs. 804 00:47:10,840 --> 00:47:12,000 Have you taken an advance? 805 00:47:13,040 --> 00:47:15,560 No, I've not taken any. But I've given him. My word. 806 00:47:20,040 --> 00:47:21,640 Then the car should be delivered from Dubai directly to my house. 807 00:47:22,840 --> 00:47:24,160 I'll give you 55 lakhs. 808 00:47:25,240 --> 00:47:27,080 Forty-five for the car and ten for your word. 809 00:47:31,080 --> 00:47:36,120 [priest chanting mantras] 810 00:47:45,240 --> 00:47:46,120 Do you like the car? 811 00:47:48,120 --> 00:47:51,080 It's nice. But what will you do with so many cars? 812 00:47:51,720 --> 00:47:53,520 We already have 15 to 20 cars. 813 00:47:54,360 --> 00:47:55,240 Didn't you like it? 814 00:47:55,280 --> 00:47:58,440 No, it's good. But what good will a car do? 815 00:47:59,680 --> 00:48:00,840 A lot. 816 00:48:01,560 --> 00:48:02,760 Money attracts money. 817 00:48:03,400 --> 00:48:04,480 People must know... 818 00:48:04,520 --> 00:48:06,600 ...that the Mehtas are no less than Ambanis or Tatas. 819 00:48:06,680 --> 00:48:08,440 - Got it? - Bhai, we don't want to become so big. 820 00:48:08,600 --> 00:48:09,920 It can bring bad luck. 821 00:48:11,720 --> 00:48:14,720 Forget these superstitions. Sit in the car and enjoy. 822 00:48:15,360 --> 00:48:16,320 I will. 823 00:48:16,720 --> 00:48:17,880 But I think you've forgotten. 824 00:48:17,960 --> 00:48:21,800 When you were small, Shantilal Mehta had shown your horoscope to a priest... 825 00:48:21,920 --> 00:48:24,480 ...he said that you are going to be unlucky in matters of money. 826 00:48:26,320 --> 00:48:29,240 When there's money in your pocket, Bad luck makes no difference. 827 00:48:31,280 --> 00:48:32,400 This is my astrology. 828 00:48:33,400 --> 00:48:34,240 Come on now. 829 00:48:34,360 --> 00:48:35,560 Hey, smarty! 830 00:48:35,880 --> 00:48:38,120 Come on now! 831 00:48:39,120 --> 00:48:40,960 - Sit at the back, come on. - Come. 832 00:48:41,240 --> 00:48:44,080 [phone ringing] 833 00:48:44,560 --> 00:48:45,400 Hello. 834 00:48:46,320 --> 00:48:47,200 Yes, who's it? 835 00:48:49,080 --> 00:48:51,320 Yes, hold on a minute. 836 00:48:54,880 --> 00:48:55,800 Phone. 837 00:48:56,200 --> 00:48:58,520 - Who's it? - Says he's from Delhi. 838 00:49:03,240 --> 00:49:04,720 - Hello? -[Swami] 'Greetings, Mehta ji.' 839 00:49:05,200 --> 00:49:06,840 It's Santswami, from Delhi. 840 00:49:09,440 --> 00:49:10,600 Hari Om, Swami ji. 841 00:49:12,120 --> 00:49:14,080 Sorry to trouble you at this hour. 842 00:49:14,480 --> 00:49:15,800 The time is not the worry. 843 00:49:16,120 --> 00:49:18,040 [Harshad] 'The worry is that you've called.' 844 00:49:20,280 --> 00:49:23,320 While I'm here, you have no reason to worry. 845 00:49:23,960 --> 00:49:26,480 [Swami] All the help you've extended to the parties during elections... 846 00:49:26,600 --> 00:49:28,240 [Swami]...is appreciated by everyone here... 847 00:49:28,720 --> 00:49:32,040 The country and the government may have undergone some changes after the elections. 848 00:49:32,160 --> 00:49:36,160 But in Delhi, everyone would like to maintain the same relations with you. 849 00:49:36,440 --> 00:49:40,080 Swami ji, I would love an opportunity to serve the government. 850 00:49:40,680 --> 00:49:43,960 [Swami] 'You will soon get the opportunity, and we shall meet soon.' 851 00:49:44,080 --> 00:49:44,800 'Hari Om.' 852 00:49:44,880 --> 00:49:45,760 Hari Om. 853 00:49:46,000 --> 00:49:50,840 [Song playing]