Prakash Patra and Rasheed Kidwai’s book, The Scam That Shook a Nation: The Nagarwala Scandal plunges readers into one of India’s most sensational financial scandals. This well-researched political thriller masterfully intertwines elements of history, crime and political drama, transporting readers to the tumultuous early 1970s during Prime Minister Indira Gandhi’s tenure. Gandhi was a towering figure at the time, having just led India to victory in the Bangladesh Liberation War, solidifying her image as a decisive leader.
The narrative revolves around Rustam Sohrab Nagarwala, a retired Indian Army captain who orchestrated a massive con in 1971. On May 24 of that year, Ved Prakash Malhotra, the head cashier at the State Bank of India’s Parliament Street branch, received a phone call from someone convincingly impersonating Gandhi. The caller instructed Malhotra to hand over Rs 60 lakh to a courier for a secret mission related to the liberation struggle of East Pakistan, now Bangladesh.
Patra and Kidwai note, “In 1971, the sum of Rs 60 lakh was no joke...
the amount would have been Rs 170.62 crore in 2024.” Believing he was acting under the PM’s orders, Malhotra complied, only to discover he had been duped when no such instructions were confirmed at the PMO.
Following the revelation of the scam, a complaint was filed at the Chanakyapuri police station. SHO Hari Dev swiftly apprehended Nagarwala with most of the money at Delhi Airport. Despite Nagarwala’s subseque.
