The Most popular Hindi web series “Scam 1992, The Harshad Mehta Story” that rated 9.6 on IMDb, focused on Ajay Kedia as the opponent of Harshadbhai & Pranav Seth as the well-wisher. Both of them have played a crucial role in the vital aspects of the web series.

Most people, including Youtubers & Bloggers, believe that Investor Vijay Kedia was the real Ajay Kedia, but that is misinformation. As per our Finocontrol researchers, The Real Ajay Kedia was Ajay Kayan.

Ajay Kayan aka Ajay Kedia

Ajay Kayan was a stocker broker who seemed to have a great relationship with Citi Bank. He was also a member of the bear cartel.

Bear Cartel decoded:

Bear refers to the market terminology that pulls the market downwards, leading to a fall in the share prices.

Cartel refers to a group of competitor organizations in the same industry/sector who cooperate, to deceive the masses or gain an advantage in the market and seek to reduce competition among themselves for their self-interest through agreements.

Therefore, Individuals such as Ajay Kayan used to form a bear cartel (a group of individuals & organizations) where they came together to reach an agreement so that they can manipulate and bring down the prices of shares by short selling them. As we know, the share price fluctuates as per demand & supply in the market. Thus, these bear cartels used to dump a massive volume of shares leading to a free fall in prices at a short time horizon.

During the 1980s & 1990s, Ajay Kayan used to perform these illegal activities with the help of CITI Banks’s PMS(Portfolio Management Service). We will learn about the process of CITI Banks’s PMS in coming newsletters. Stay tuned! Subscribe now!

These scenarios still happen in the current generation with prevailing market irregularities due to which student investors, beginners, and retail investors face huge losses. But, now is the hour of Finocontrol helping our subscribers detect scams & leverage their financial learning.

Coming back to the topic in hand, Ajay Kayan aka Ajay Kedia runs a stockbroking business named SMIFS LIMITED with his partner Utsav Parekh & family members.

Most people, including Youtubers & Bloggers, have an impression that Stock Broker Ketan Parekh was the real Pranav Seth, but that is misinformation. As per our Finocontrol researchers, The Real Pranav Seth was Pallav Seth.

Pallav Seth aka Pranav Seth

Pallav Seth was a stocker broker who seemed to have strong ties with Harshad Mehta. He was also a member of the bull cartel and was fined with a penalty in the 1990s. Harshad used to share all insider information with his bull cartel, which used to be lead by Pallav Seth. He also used to pump the markets with massive volumes of share purchase.

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