Harshad Mehta

Stockbroker

Indian Paneli Moti, Rajkot District, Gujarat

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Quick Info

ProfessionStockbroker
NationalityIndian
Date of Birth29/07/1954
Age47 years (died on 31, Dec, 2001)
BirthplacePaneli Moti, Rajkot District, Gujarat
Date of Death31/12/2001

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Bio/Wiki

Full NameHarshad Shantilal Mehta
Names Earned
Famous ForMasterminding the 1992 Stock Market Scam of over INR 4000 crore rupees
Death CauseHeart attack (Heart Ailment)
Place of DeathThane Civil Hospital, Mumbai

Educational Qualification(s)

EducationB.Com
SchoolHoly Cross Senior Secondary School, Raipur, Chhattisgarh
College/UniversityLala Lajpat Rai College of Commerce and Economics, Mumbai (1976)

Personal Life

Marital StatusMarried

Relationships & More

Wife/SpouseJyoti Mehta
ChildrenAtur Mehta
Parents
FatherShantilal Mehta (Businessman)
MotherRasilaben Mehta
Siblings
  • Sudhir Mehta
  • Hitesh Mehta
  • Ashwin Mehta (Advocate)

Career

Timeline
Graduated from Lala Lajpat Rai College of Commerce and Economics
Quit job at NIACL and started working as a jobber in stock market business
Became a member of the Bombay Stock Exchange and established his own stock brokerage firm
Founded GrowMore Research and Asset Management
Arrested by CBI in November following investigations into the securities scam
Convicted by Bombay High Court in September, sentenced to 5 years of rigorous imprisonment and fined
Significant Events
  • Secretively siphoned off money from government security markets
  • Elevated the Sensex from 1000 to 4500 in one year
  • Manipulated share prices of companies like ACC Cement
  • Convicted for a financial scandal valued at ₹100 billion (US$1.0 billion) on the Bombay Stock Exchange

Style Quotient

Lifestyle
  • Sea-facing penthouse in Mumbai's Worli with a mini-golf course and swimming pool
  • Owned fancy cars including a Toyota Lexus car worth Rs. 40 lakh
  • Cars owned: Lexus Starlet, Toyota Corolla, Toyota Sera

Some Lesser Known Facts

1. He was born into a family following the Gujarati Jain culture.
2. His career began with various odd jobs before transitioning into the stock market industry.
3. He exploited loopholes within the banking system to commit financial fraud.
4. His health deteriorated in judicial custody, and he reportedly received inadequate medical attention before his death
Information on this page is collected from public sources and may not be 100% accurate. Report an error
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