Independent India’s First Scandals that Rocked the Nation by Bhaswar Mukherjee

The Founding Fathers of Fraud: Independent India’s First Scandals that Rocked the Nation | The True Crime Account of the Dalmia and Mundhra Scams by Bhaswar Mukherjee | Book Review

"The Founding Fathers of Fraud" is an immersive and engaging read. It is a fast-paced read that is bound to stun the readers with both the extent of research and the extent of the scams.

It presents the complete account of the Mundhra scandal from 1957, considered the first big financial scandal of independent India, committed by Ramkrishna Dalmia and Haridas Mundhra.

Dalmia and Mundhra, as well as the beginnings of the fraud, are briefly introduced at the beginning of the book. The book traces the financial and political repercussions of the scam from the damaging impact on the financial sector and privatisation of India's insurance sector and also the impact in Parliament.

This book aims to investigate the machinations of Dalmia and Mundhra, their similarities and differences, and the numerous ways in which their respective arcs influenced the political system and legislation that followed.

Mukherjee's storytelling style is precise yet approachable. He doesn't shy away from talking about complicated financial details; however, he does so in a way that anyone, even if you don't like finance, can understand and follow. His knack for suspense keeps you hooked, turning each chapter like a courtroom drama.

His prose has a distinct flavour—clean, direct, and laced with the kind of urgency that mirrors the tension of the times. In Mukherjee’s hands, both Dalmia and Mundhra are more than mere villains. They are ambitious men with deeply flawed morals, driven by a desire for power and wealth.

The author manages to peel back layers, revealing both the charisma that once made them giants and the recklessness that led to their eventual disgrace. It's fascinating to see them not just as criminals but as characters who represent broader issues in corporate ethics.

Overall, "The Founding Fathers of Fraud" is a fascinating dive into the history of financial scandals in India. This book is both educational and thrilling due to the meticulous research and storytelling of the author, Bhaswar Mukherjee.

Highly recommended for anyone who is interested in the history of corporations and greedy cautionary tales.

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