iWorld
From stock market to screen: SonyLIV’s Scam 1992 is a cautionary tale
KOLKATA: In April 1992, mayhem hit the Indian financial sector as the nation woke up to the biggest stock market scam. So huge was its impact on Dalal Street that it led to structural changes in the financial security system of India with new reforms in stock trades. However, what remains untold is the story of the mastermind behind it. Scam 1992 – The Harshad Mehta Story, SonyLIV’s latest tentpole show, is about the charismatic stockbroker who orchestrated a previously unheard-of Rs 5,000-crore securities scandal.
Unravelling the man from the myth over the course of 10 nail-biting episodes, the show will drop on the OTT platform on 9 October. With it, SonyLIV is hoping to boost its subscriber base while fulfilling its promise to deliver more original content.
Produced by Applause Entertainment in association with Studio Next, this series is a financial crime thriller based on the bestseller book The Scam written by notable journalists Debashis Basu and Sucheta Dalal.
The series is a gripping tale of the meteoric rise and fall of the flamboyant big bull of the stock market – Harshad Mehta. Directed by national award-winning filmmaker Hansal Mehta, the series is led by Pratik Gandhi and Shreya Dhanwanthary along with an ensemble cast of Satish Kaushik, Sharib Hashmi, Anant Mahadevan, Nikhil Dwivedi, KK Raina and Lalit Parimoo, among others. The creative team comprises dialogue writers Sumit Purohit, Saurav Dey, Vaibhav Vishal and Karan Vyas.
Director Hansal Mehta said the story, or cautionary tale, is more relevant than ever in these troubled times where a new multi-billion dollar scam is uncovered every other day and the conmen responsible fly the coop with uncanny ease.
“This show gives you an intimate peek into the middle-class aspirations of a common man who rose from rags to riches while managing to subvert and deceive the banking system. It talks about what the system, if not mended, might make people do. The system doesn’t seem to have mended. There is scam on scam,” Mehta averred.
Having helmed films about complex socio-political issues, like Shahid starring Rajkummar Rao, and Manoj Bajpayee-led Aligarh, Mehta found the enormity of Scam 1992 to be a quite a unique challenge.
"I've told many true stories but to put this kind of long-form writing on screen was a huge challenge. It was perhaps the biggest, single largest challenge that I've had after making almost 15 feature films," he said.
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The makers spent over three years on the show to ensure absolute accuracy, from the script, to choice of actors, and the overall treatment.
“Scam 1992 – The Harshad Mehta Story reflects on a landmark event in the Indian stock market. The incident was integral in shaping India’s financial security systems and hence was a story waiting to be told,” Studio Next head Indranil Chakraborty said.
Applause Entertainment CEO Sameer Nair said that with Scam 1992, the company hopes to raise the bar of premium series in India in terms of creativity and production while staying true to the original source material.
Gaming
MTG gaming chief Benninghoff joins NODWIN board as esports firm primes for IPO
The Gurugram-based esports firm is pursuing a public listing, has returned to profitability and is growing revenues by 42 per cent
GURUGRAM: NODWIN Gaming is moving fast. The Gurugram-based gaming and esports company has launched a pre-IPO fundraising round, appointed UBS as lead adviser for both the round and a subsequent public listing, and landed a heavyweight board director, all in one go.
The new board member is Arnd Benninghoff, executive vice president of gaming at Stockholm-listed Modern Times Group (MTG), who has overseen the group’s strategic investments and portfolio growth since 2014. He is no stranger to building things: Benninghoff has founded and built fifteen companies, served as chief digital officer at ProSiebenSat.1 Media AG, managing director of SevenVentures, and chief executive of Holtzbrinck eLAB. He began his career as a journalist at Deutsche Presse Agentur and various TV networks, holds a Diplom-Kaufmann in business and administration from the University of Münster, and previously sat on the board of Edgeware AB.
The numbers back the ambition
NODWIN is not pitching a story without substance. The company has returned to EBITDA profitability and posted a 42 per cent year-on-year revenue surge, reaching $58.5m in the first nine months of FY2026. The pre-IPO round will combine a primary issuance to fund global expansion through organic growth and acquisitions, alongside a secondary sale to give existing shareholders some liquidity.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, said Benninghoff understands “the entire lifecycle of the gaming and media ecosystem, from the boots-on-the-ground reality of building startups to the strategic complexity of managing multi-billion dollar global portfolios.”
Benninghoff, for his part, said the company “sits at the intersection of sports, entertainment, and technology, making it one of the most exciting players in the global gaming landscape today.”
A portfolio built for the global south
Founded in 2014 by Rathee and Gautam Virk, NODWIN has quietly assembled one of the more compelling esports portfolios outside the Western hemisphere. Its properties include DreamHack India and Comic Con India, and it recently acquired StarLadder, the Ukraine-based tournament organiser behind premier events in CS:GO and Dota 2. The company also serves as a long-term strategic marketing partner for the Evolution Championship Series (EVO), the world’s most prominent fighting game tournament, helping push it into new geographies.
Its geographic focus spans South Asia, Central Asia, Southeast Asia, the Middle East and Africa. Backers include Nazara Technologies, KRAFTON, Sony Group Corporation, JetSynthesys, and the founders’ investment vehicle Good Game Investments.
What comes next
With UBS running the books, a board freshly reinforced with European media and gaming expertise, and revenue heading in the right direction, NODWIN is laying the groundwork deliberately. The esports industry has burned investors before with big promises and thin margins. NODWIN’s return to profitability, combined with a real portfolio of owned intellectual properties across gaming, music and youth culture, gives it a more credible runway than most. The IPO clock is now ticking.
