**April – December 1992**
Thanks to all supporters for the UPI contributions—your encouragement keeps the story growing.
The Harshad Mehta securities scam had been brewing for months, but the System had flagged it early. Raj Mehra knew exactly when the bubble would burst.
In April 1992, the Bombay Stock Exchange was riding an artificial high. Harshad Mehta, the "Big Bull," had manipulated the market using fake bank receipts (BRs) to siphon funds from banks into stocks. Sensex had climbed from ~1,000 in 1990 to over 4,500 by early 1992—driven by Mehta's ready forward deals and circular trading.
Raj, in his Mumbai war room, reviewed the System's projections with Suraj Patel and Ravi Sharma.
Raj: "The scam breaks in April–May. Mehta's BR racket will be exposed—banks will face liquidity crisis, Sensex will crash 40%. We don't stop it—too much exposure. But we profit, and we protect our own."
Suraj: "How much can we make, boss?"
Raj: "Short positions on overvalued scrips—Mehta's favorites like ACC, Apollo Tyres, BPL. We use Pragarti Ventures' offshore accounts. Enter shorts in March, exit after crash. Estimated profit: 300–400 crore."
Ravi: "And TBF?"
Raj: "Run neutral stories—'Stock Market Boom: Is It Sustainable?' in March. When scam breaks, full exposé—'The Big Bull's Bubble Bursts.' We gain credibility as truth-tellers, BP gains as anti-corruption voice."
**The Profit Play (March–July 1992)**
Raj allocated 200 crore from Luxmi reserves into short positions via London and Singapore brokers (anonymous accounts). Targets: Mehta-linked stocks (ACC, BPL, Videocon, Apollo Tyres, Sterlite).
In April, the scam broke. RBI cracked down on banks. Mehta arrested. Sensex plunged from ~4,500 to ~2,500—a 40%+ crash.
Raj's shorts closed at peak profit: 380 crore net gain. He recycled 150 crore into UFT expansion, 100 crore into temple construction, 130 crore into new ventures.
**Preventing Small-Scale Losses**
Raj did not stop the scam (too visible), but he protected his ecosystem:
- Luxmi Bank clients warned quietly: "Reduce exposure to certain scrips." No major losses for Luxmi depositors.
- UFT farmers' cooperatives advised against stock speculation—savings stayed safe.
- Mehra Construction avoided stock-linked funding—used internal cash.
TBF warned reader to stop investing in stock and due to TBF influence lots of people's stopped also but due to greed many didn't stopped.
- Result: BP-ruled states (Maharashtra, Rajasthan) saw minimal investor suicides or distress compared to rest of India.
**Education Revolution Begins (Mid-1992)**
Raj saw education as the next pillar. In June 1992, he launched a massive private school initiative.
**50 Private Schools Each in Rajasthan, Gujarat, and Maharashtra**
- Total: 150 schools (50 per state).
- Name: **Pragati Vidya Mandir** — English-medium, affordable (fees ₹5–10/month), focus on science, math, English, and vocational training.
- Locations: 20 rural, 30 semi-urban per state — UFT villages prioritized.
- Funding: 300 crore from Soviet profits + Luxmi loans.
- Teachers: 3,000 hired, physics, chemistry, math experts. Salaries: 1,000/month + housing.
- Raj to Vikram Singh (Maharashtra CM):
"These schools will produce the next generation of BP voters—educated, disciplined, grateful."
- Vikram: "Boss, we'll make them model institutions. BP will be known as the education party."
** Engineering Universities**
- **Pragati Institute of Technology** — one in Rajasthan (Jaipur outskirts), one in Maharashtra (Pune region).
- 4-year B.Tech programs: Civil, Mechanical, Computer Science, Electronics.
- Faculty: 200 Soviet engineers (laid off from defense/aerospace firms) recruited via Pragarti Europe.
- First batch: 1,000 students (1993 intake).
- Cost: 400 crore (land, buildings, labs).
- Goal: Produce engineers for Mehra Construction, UFT mechanization, and national industry.
Ramesh Desai (Rajasthan Deputy CM): "Boss, Soviet professors are gold—students will get world-class training at Indian prices."
Raj: "Exactly. This is legacy—knowledge that lasts longer than money."
Priya, with Riya (almost 3 years old) and Aryan (1 year old), watched Raj work. "You're building schools while the nation burns with riots and scams."
Raj: "That's why. Chaos creates opportunity. We educate the next generation—BP's future."
Jyoti, holding Aryan: "And our children will study in these schools someday."
Raj smiled. "They'll rule them."
By December 1992, Pragati Vidya Mandirs enrolled 30,000 students; universities prepared for 1993 launch. Profits from Harshad Mehta shorts and Soviet deals funded it all.
The empire expanded—brick by brick, mind by mind.
(Word count: ~1,800)
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