It’s 1991. Rajiv Gandhi has been assassinated and PV Narasimha Rao has just been sworn in. Militancy is on the rise in Kashmir. The CBI discovers a mysterious set of diaries while investigating terror financing networks. The trail leads to the Jains, a powerful business family that in turn points to Rs 65 crore being paid to various prominent figures, including politicians and bureaucrats. The tabloid paper Blitz gets the scoop, splashing it on the front page. But the matter quickly dies down. How does the black economy work? What is the hawala system? Why is this scandal being hushed up?

References:A list of archival resources used to research this episode can be found here:

• News clip about Rajiv Gandhi’s assasination: https://youtu.be/3QVODgQQfCs


• News clip of PV Narasimha Rao’s swearing in ceremony: https://youtu.be/yLuL1lhPwNM


• News clip of Ram Mandir chants : https://youtu.be/1QBK_FPYA9c


• Excerpts of Devi Lal, Sharad Yadav, Ram Jethmalani and Vineet Narain from original Kalchakra report: https://www.youtube.com/watch?v=Da9rNEWy0wc&t=4s

• Doordarshan News clip - https://www.youtube.com/watch?v=vT8BLJujVvU 

• Reporting from Kashmir -   https://www.youtube.com/watch?v=vb34Ap2muJI&t=401s 

• Sucheta Dalal interview with Harshad Mehta scam 1992 - https://www.youtube.com/watch?v=gDWuKIhPPug&t=207s 

Transcript: https://www.anildivanfoundation.org/episode1

Archive - https://documents.legalarchive.in/static/timeline/#Jain%20Hawala%20Case/AQU

Credits: 

Host:  Raghu Karnad

Guest: Arun Kumar, Sanjay Kapoor, Shantonu Sen, Vineet Narrain

Research Manager:  Ramya Boddupalli

Legal Researcher: Vipinn Mittaal

Scriptwriter: Ramya Boddupalli 

Script editor: Bhavya Dore

Fact checker: Vipinn Mittaal

Advisors: Lawrence Liang, Ranvir Singh, Shyam Divan and Vivek Divan

Head of Production: Shaun Fanthome

Creative Director: Mae Mariyam Thomas 

Producer: Abbas Momin

Producer/Sound Editor: Joshua Thomas

Production Assistant: Sakshi Nair

Sound Design & Mix: Kartik Kulkarni

Graphic Designer: Sephin Alexander