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Harshad Mehta was a well-known Indian businessman and stockbroker. Harshad Mehta gained recognition for his involvement in the Indian Stock Exchange scam of 1992, which made him famous as a market manipulator.
Early life
Harshad Mehta was born on July 29, 1965. Harshad hailed from Paneli Moti, Rajkot, and was residing in Thane, Maharashtra when he passed away.
Likewise, Harshad came from a Gujrati Jain family. Also, Harshad grew up in Borivali. There, Mehta’s father was a small textile businessman. Likewise, his full name is Harshad Shantilal Mehta.
His parents are his father Shantilal and his mother Rasilaben Mehta. Likewise, he has three brothers: Sudhir, Hitesh and Ashwin Mehta.
Talking about his educational journey, Harshad completed his early education from Janta Public School, Camp 2 Bhilai. He was also a cricket enthusiast who showed no particular promise at school.
After his studies, Mehta came to Mumbai to study and also to look for a job. Later, she attended Lala Lajpatrai College, Bombay, and graduated in B.Com in the year 1976. Likewise, Mehta also worked in various odd jobs for the next 8 years.
Caption: Harshad Mehta posing for a photo with his brother Ashwin Mehta. Source: Kanaphusi
Death
He was only 47 years old when he died on December 31, 2001 due to a heart attack.
Harshad Mehta – Net worth 2023
Moving on, Harshad Mehta had a net worth of approximately 475 million US dollars or 3,542 million Indian rupees at the time of his death.
Career and professional life
Professionally, Harshad Mehta was a popular businessman and stockbroker. He gained immense fame after being involved in the Indian securities scam of 1992. This made Mehta famous as a market manipulator.
However, the Economic Times reports that financial experts believe Mehta did not commit any fraud but simply took advantage of loopholes in the system.
Harshad started his career as a salesman with New India Assurance Company Limited (NIACL) in their Mumbai office. During his stay at NIACL, Mehta developed an interest in the stock market.
Subsequently, after a few days, Harshad resigned from NIACL and then joined a brokerage firm.
Then, in the early 1980s, Harshad moved into a lower-level administrative job. He was in the brokerage firm called Harjivandas Nemidas Securities. There, Mehta worked as a broker for broker Prasann Pranjivandas Broker.
Over a period of ten years, Mehta held various upward positions at various brokerage firms.
As a result, in 1990, Harshad achieved a prominent position in the Indian securities industry. Many media outlets called him the “Amitabh Bachchan of the stock market”.
Caption: Harshad Mehta was in criminal custody in Thane jail after his exposure of his exploits in the stock market. Source: The Daily Voice
More details
Speaking of Mehta’s criminal charges, authorities were able to convict Harshad on only 4 of the 27 criminal charges before his sudden death in 2001. Harshad allegedly participated in a massive stock manipulation scheme financed by worthless bank receipts.
Mehta’s firm brokered these bank receipts for “ready forward” transactions between banks.
The Bombay High Court and the Supreme Court of India convicted the businessman for his role in a financial scandal worth Rs 100 billion (US$1.4 billion). This allegedly took place on the Bombay Stock Exchange (BSE).
The scandal involving Harshad Mehta exposed loopholes in the Indian banking system as well as the trading system of the Bombay Stock Exchange (BSE).
Consequently, SEBI brought in new rules to plug the loopholes exposed by the Mehta scandal. Furthermore, Harshad Mehta was on trial for nine long years until his death on December 31, 2001.
Caption: Harshad Mehta arrested after 1992 Indian securities scam. Source: Forbes India
civil status
Harshad Mehta was married to Jyoti Mehta. Harshad and Jyoti shared a son, named Aatur Harshad Mehta.
There is no information about how Harshad and Jyoti met, how and when they fell in love, and when they got engaged and married.
Harshad Mehta – Body Measurements
Harshad Mehta had a height of approximately 5 feet 6 inches.
Apart from this, there is no information about other details of Mehta’s body measurements such as her weight, chest, waist and hip measurements, dress size, shoe size, etc. Furthermore, Harshad had dark brown eyes and hair of the same color.
Social media
It seems that Harshad does not have and did not have any personal profiles on any social media platforms like Twitter, Instagram, Facebook, Youtube, Tiktok, etc. At the time of Harshad’s disappearance, the internet and social media were not as prominent as they are today. .
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Categories: Biography
Source: vcmp.edu.vn