Quick Info
| Details | |
|---|---|
| Name | Harshad Mehta |
| Current Age | Would have been 66 years old (as of 2024) |
| Occupation(s) | Stockbroker |
| Date of Birth | July 29, 1954 |
| Date of Death | December 31, 2001 |
| Place of Birth | Paneli, Rajkot, India |
| Nationality | Indian |
| Parents | Shantilal Mehta (Father) |
| Siblings | Ashwin Mehta (Brother) |
| Spouse | Jyoti Mehta |
| Children | Atur Mehta, Atulya Mehta |
| Net Worth (2024) | Estimated at INR 500 crore |
| Source of Wealth | Stock Market Manipulation, Investments |
| Ventures | Growmore Research and Asset Management |
| Ethnicity | Indian |
| Height | Not Available |
| Weight | Not Available |
| Notable Works | Masterminding the 1992 Indian Stock Market Scam |
Introduction
Harshad Mehta, often referred to as the "Big Bull" of the Indian stock market, was a prominent stockbroker whose name became synonymous with one of the most significant financial scandals in Indian history. Born on July 29, 1954, in Paneli, Rajkot, India, Mehta rose to fame in the late 1980s and early 1990s for his bold and unconventional trading strategies.
Early Life and Career
Mehta started his career as a salesperson in a textile firm before venturing into the world of stockbroking. His keen understanding of the stock market and sharp business acumen quickly propelled him to success. He founded Growmore Research and Asset Management, a brokerage firm that played a pivotal role in his meteoric rise.
The 1992 Stock Market Scam
Mehta's notoriety peaked in 1992 when his involvement in a massive securities fraud came to light. Known as the Harshad Mehta Scam, he exploited loopholes in the banking system to manipulate stock prices and artificially inflate the Bombay Stock Exchange index. The scam shook the foundations of the Indian financial markets and led to widespread reforms.
Legal Troubles and Legacy
Mehta's fraudulent activities eventually caught up with him, leading to legal battles and investigations. Despite his fall from grace, he left a lasting impact on the Indian financial landscape, sparking debates on regulatory oversight and market manipulation. His story continues to intrigue and serve as a cautionary tale for investors and regulators alike.
Net Worth and Financial Insights
As of 2024, Harshad Mehta's estate is estimated to be worth around INR 500 crore. His wealth was primarily amassed through stock market manipulation and strategic investments. While his legacy is tarnished by the scandal that defined his career, Mehta's financial acumen and daring approach to trading remain subjects of study and fascination in the financial world.
Conclusion
Harshad Mehta's journey from a humble background to a controversial figure in the Indian financial realm is a story of ambition, success, and downfall. His legacy serves as a reminder of the risks and consequences associated with unchecked power and greed in the world of high finance. Despite his controversial reputation, Mehta's impact on the Indian stock market and regulatory landscape endures as a cautionary tale for generations to come.
