India got its independence on August 15, 1947, after a struggle of centuries, While the nation was undergoing its build-up brick by brick under the guidance of leaders of its first government led by Prime Minister Jawahar Lal Nehru; it could hardly afford any corruption in business or high places. How did Haridas Mundhra managed to take over big English companies in India in a short period? How could he mortgage shares of his companies with banks – more than even the paid-up capital? Why Government of India tried to bail him out when his fraud had surfaced? Why Life Insurance Corporation Of India invested in his sinking company’s shares, public funds to the extent of Rs. 1.25 crores? Was there a Quid Pro Quo arrangement between Mundhra and Congress party? What was the role of Feroze Gandhi in unearthing the scam? Why was the then finance minister T.T.Krishnmachari forced to resign? What was the role of RBI and SBI chairmen in the scam? Why did the heat reach then-Prime Minister Jawaharlal Nehru? A lot of questions were floating in the air. Media was absent in those times. Hence this story – connecting all dots based on available information!
