Harshad Mehta’s Net Worth: In fact, more than just a simple stockbroker, a millionaire with a life, even movies and seasons in the works, like no other is Mr. Harshad Mehta. Harshad Shantilal Mehta was born on July 29, 1954 in Rajkot, India. He was a stockbroker and famous for his love of risk-taking and was often called The Big Bull or Amitabh Bachchan of the stock market. The 1992 Indian stock scam led people to believe that he was a market manipulator.
Although Harshad Mehta was born in Rajkot, he spent his early years in Mumbai and later moved to Raipur. He studied at Janta Public School in Bhilai. He does not like studying and loves cricket. After school, he moved to Mumbai again for further studies and work. He completed his graduation in commerce from Lala Lajpatrai College. He undertook various jobs such as grading diamonds, selling cement, etc. Soon after, he became interested in the stock market and started working as a journeyman. Take a look at Ashwin Mehta Net Worth as of 2024.
You are watching: Harshad Mehta Net Worth: Scam Details, Assets Today
In the late 1980s, he founded his own company Grow More Research and Asset Management with his brother. In a short time, they got famous investors and soon, he and his company started growing and he emerged as the highest tax payer in India. He started a Bull Run in the stock market and traded a lot of stocks of such companies which he believed were undervalued.
Harshad Mehta Net Worth
Harshad and his brother Ashwin Mehta used to run the business together. Harshad Mehta is no more in this world and his brother is estimated to have a very high net worth.
| Name | Harshad Mehta |
| Net worth (2024) | 475 million USD |
| Net worth in Indian Rupees | 3542 billion INR |
| Job | Indian stock broker |
| Monthly income | 1.5 million+ |
| Annual income | 18 million+ |
It is said that Ashwin single-handedly fought to clear his brother’s name and paid around 1700 crores to the banks to clear all the debts and NPAs.
When Harshad was alive, it was estimated that Harshad Mehta was directly responsible for embezzling funds of Rs 1439 crores (USD 193 million) and perpetrating a fraud that resulted in loss of assets worth Rs 3542 crores (475 million USD). million dollars) !!! As a result, his personal net worth increased greatly, while many people lost all their assets.
Harshad passed away on 31 December 2001 in Mumbai leaving behind siblings Ashwin Mehta, Sudhir Mehta, Hitesh Mehta, wife Jyoti Mehta and SonAtur Mehta.
We could never imagine a person of Indian origin committing such fraud and this may seem like a movie, however, this is the true picture behind the life of a man.
What scam did Harshad Mehta do?
The 1992 scam was a systematic fraud perpetrated by Mr. John. Harshad Mehtain Indian stock market. This created a huge mistake, causing the entire stock system to collapse.
He tried to create a diversion of huge amounts of money from banking channels to the stock market by exploiting various loopholes and loopholes in the brokerage system.
See more : Ellen Pompeo Net Worth 2024: Age, Cars, Salary and Husband
Harshad committed fraud of over 1 billion rupees from the banking system to buy shares on the Bombay Stock Exchange. Due to this transaction, the banking system lost around 3500 to 4000 crores.
Due to this scam and the losses of the banks, the stock market collapsed heavily. Thousands of innocent investors lost a lot of money and this scam became one of the biggest scams in world history.
| Name | Harshad Mehta |
| Job | Indian stock broker |
| Die | December 31, 2001 |
| Date of birth | July 29, 1954 |
| Height: | 6 ft 0 in (1.83 m) |
| Place of birth | Paneli Moti |
| Couple: | Jyoti Mehta (m. ?–2001) |
| Children: | Arthur Mehta |
| Nation | India |
| Estimated net worth | USD 475 million (Rs. 3542 Crore) |
This is how the big cow was created
In 1984, he founded his own company and became a member of the Bombay Stock Exchange. The 80s were coming to an end but Harshad’s fire was growing stronger. In the upcoming 90s, every newspaper is filled with joy, every magazine publishes photos and all the big guys yearn to meet. It is said that when the superiors give way, the thatched roof will tear. The same thing happened with Harshad. New people want to be like him, old people often call his name respectfully and everyone wants to know what Harshad Mehta’s secret is.
What is Harshad Mehta’s secret anyway?
Harshad is the philosopher’s stone whose object he touches becomes gold. Harshad’s value is higher than Kohinoor in the stock market. But to understand Harshad Mehta’s secret, one must understand how it works. When he was interested in ACC shares, the price was 200 rupees but within a short time the price of the shares had gone up to 9 thousand. Think about what secret has opened up the country’s banking system. What did he do to shock the stock market? And who revealed this?
The stock market kept hitting its peak and at the same time, Harshad Mehta was also growing. This is a time when the country’s economy is going through a period of change. Privatization and foreign investment are increasing. The country has been on this path of change. As long as the market was growing, Mehta’s fire continued to grow, but one day the stock market went bankrupt. Mehta was unable to return the money to the bank and then went on to open up this ‘Harshad Mehta scandal’.
After this, an article was published in the New York Times in which Debashish Basu, author of Business Today, said, “The problem is not Mehta. This is a unique time in the history of the Indian economy when old pages are being torn out. In moments like these, scammers come out of their shell. ”
On the floor with devastation
Sucheta Dalal’s pen did what even those on Harshad’s side could not do. From Dalal Street to Parliament, this scandal has been discussed. As the problem became more widespread, a joint parliamentary committee was established to investigate the matter. Along with Harshad, the CBI also arrested both brothers Ashwin and Sudhir.72 criminal cases and over 600 civil cases were registered against Harshad.
Then it happened, something that had never happened before in the country’s history. Mehta announced in a press conference that he had given a bribe of one crore to Prime Minister Narasimha Rao. Congress and Rao deny the allegations. There was never any evidence of But this case took a heavy toll on Narasimha Rao, as during this time he was also accused of bribing JMM MPs to save his government.
Aise dooba mehata ka taitainik
After being released on bail, Mehta started his business again. He was released on bail in one case after another. It seemed like the days were changing again. But in 2001, he was arrested again and sent to prison and died of a heart attack on December 31, 2001.
According to the report of the Janakiraman Committee of the RBI, the 1992 scam was worth Rs 4025 crore. The biggest case in this case is the 600 crore fraud committed with SBI. It was said that when he appeared in court, crowds would gather. to raise slogans in support of him.
See more : Deni Avdija Net Worth 2024: Salary, Age, Girlfriend and Height
Sucheta, a journalist who revealed the incident, was also awarded the Padma Shri in 2006. In an article on his blog, Sujata wrote,
“The problem with Mehta is that he never changes his formula. He doesn’t realize that his old magic no longer holds sway over investors. He always lives in the world of appearances. After the SBI scandal emerged, he had a photo shoot at the Mumbai Zoo feeding peanuts to the bears. Through this, he wants to show that the stock market will always operate according to his orders.”
Truth
- Harshad Mehta’ Born on 29 July 1954, in Paneli Moti Village, Gujarat
- Harshad Mehta’s height is 6 ft 0 in (1.83 m)
- Harshad Mehta’s weight is 78 kg (172 lbs)
- Harshad Mehta is an Indian stockbroker
- Harshad Mehta’s annual income is
- Harshad Mehta’s net worth is $475 million as of 2024
Frequently asked questions
What is Harshad Mehta’s net worth?
Harshad Mehta’s total net worth is around 475 million USD (Rs.3542 Crores).
How rich was he at his peak?
Estimates vary, but it’s safe to say that Mehta amassed considerable wealth during his years of market manipulation. Some reports suggest that his personal wealth peaked at around Rs. 3542 crore (over $475 million at today’s prices)
What happened to his assets after the 1992 scam?
Mehta’s scam involved siphoning off money from banks and financial institutions. When the story was revealed, he faced legal consequences and had to surrender a significant portion of his assets.
What is the current status of his family’s assets?
Harshad Mehta’s wife, Jyoti Mehta, has publicly disputed the claim about their remaining assets. She claims they have suffered greatly due to the financial burden of legal battles and foreclosures.
When did Harshad Mehta die?
Harshad Mehta passed away on December 31, 2001 in Thane.
What is Harshad Mehta’s height?
Harshad Mehta’s weight is 1.83 M (6′ 0”).
What is Harshad Mehta’s wife’s name?
Harshad Mehta is married to Jyoti Mehta (m. ?–2001).
Must read :-
Source: https://anhngunewlight.edu.vn
Category: Net Worth