Harshad Mehta Net Worth: Not only a simple stock broker, in fact, a millionaire whose lives, even films and season made, none other than Mr. Harshad Mehta.
Harshad Shantilal Mehta was born on July 29, 1954, in Rajkot, India. He is a stockbroker and is known for his risk of taking appetite and often referred to as Big Bull or Amitabh Bachchan from the stock market. Fraud Securities India 1992 led to the belief that he was a market manipulator. In this article we will discuss about Harshad Mehta, career and clean wealth.
Even though Harshad Mehta was born in Rajkot, he spent his initial years in Mumbai and then shifted to Raipur. He went to Janta public school in Bhilai. He doesn’t like learning and loves cricket. After school he again shifted to Mumbai for further study and work. He completed his graduation in trading from Lala Lajpatrai College. He took a different job like sorting diamonds, selling cement etc. As soon as he developed interest in the stock market and began working as a court.
Then in the late 1980s, he began his own firm fostering more research and management of assets together with his brother. In a short time, they had leading investors and soon he and his company began to grow and he appeared as the highest taxpayer in India. He started a bull running on the stock market and he traded a lot in a company’s shares like that, which he thought was underestimated.
Harshad Mehta’s Net Wealth
Harshad and his brother Ashwin Mehta used to handle a shared business. Harshad Mehta is no longer in this world, and his brother is estimated to have very high net worth.
It was said that Ashwin fought alone to cleanse his brother’s name and paid around 1700 crores to the bank to clean all debts and NPA.
Harshad has expired on December 31, 2001 in Mumbai leaving his brothers Ashwin Mehta, Sudhir Mehta, Hitesh Mehta, his wife Jyoti Mehta, and Son Arranged Mehta.
We can never imagine someone who comes from India who commit fraud like this and this seems to be a film, however, this is a real picture behind a person’s life.
What fraud does Harshad Mehta do?
Fraud in 1992 was a systematic fraud done by the CPC. Harshad Mehta on the Indian stock market. This creates a big mistake, which makes the whole system of securities collapse.
He managed to create a massive diversion of the banking channel to the stock market, by exploiting various Lacunas and gaps in the broking system.
Harshad committed more than 1 billion rupees from the banking system to buy shares in the Bombay Stock Exchange. Because of this transaction, the banking system suffered a loss of around 3500 to 4000 crores.
Because of this fraud and losing the bank, the stock market fell severely. Thousands of innocent investors lose a lot of money and this scam became one of the biggest frauds in world history.
This is how big the bull is made
In 1984, he started his own company and took the Bombay Stock Exchange membership. The years will end, but the Harshad fire increases. In the coming decade of the 90s, every newspaper was full of excitement, each magazine had its printed images and great people for meeting with him. It is said that when the top gives, it makes tears. The same thing happened with Harshad. New people want to be like him, ordinary parents accept his name respectfully and everyone wants to know what the secret of Harshad Mehta.
However, what is the secret of Harshad Mehta
Harshad is a philosopher stone which is usually touched into gold. Harshad value is more than a cohinoor on the stock market. But to understand the secrets of the Harshad Mehta, a person must understand how it works. When he was interested in ACC’s shares, it was 200 rupees, but in a short time this share price reached 9 thousand. Think about the secret that opened the country’s banking system? What did he do so the indera the stock market was fascinated? And who is the person who revealed this?
The stock market continues to touch the height and at the same time, Harshad Mehta also grows. This is the time when the country’s economy is through the change phase. Privatization and foreign investment increases. The country has moved on the path of change. As long as the market continues to grow, the API Mehta also continues to grow, but one day comes when the stock market is bankrupt. Mehta could not return the money to the bank and then proceeded to open this ‘Harshad Mehta’ scandal.
After this case, an article was published in the New York Times where the Debashish body, business writer today, said, “The problem is not Mehta. This is a unique time in Indian economic history when old pages are torn. At times like that , Scamster out of their shell. “
On the floor with calamity
The decline in Sucheta Dalal did what they even burned with Harshad could not. From Dalal Street to Parliament this scandal is being discussed. When this problem grew, the common parliamentary committee was formed to investigate this problem. Along with Harshad, the CBI also arrested his brothers Ashwin and Sudhir. 72 criminal cases and more than 600 civil cases are registered with Harshad.
After this, what happened had an unprecedented in the history of the country. Mehta admitted in a press conference that he had given one crore to PM Narasimha Rao. Congress and Rao denied the allegations. There has never been evidence about this. But this case took a big victim in Narasimha Rao, because all this time he was also accused of bribing JMM parliamentarians to save his government.
Aise Doaoba Mehata Ka Taitainik
After getting a bail, Mehta started his business again. He gets a guarantee in one case by one. It seems that the days will change again. But in 2001, he was arrested again and sent to jail where he died of a heart attack on December 31, 2001.
According to a report by the Janakiraman RBI Committee, Scam 1992 is worth Rs 4025 Crore. The biggest case in this is a 600 crore fraud done with SBI. It was said that when he used to go to court, the crowd would gather to increase the slogan for the sake of help.
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