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Harshad Shantilal Mehta (29 July 1954 – 31 December 2001) was an Indian stockbroker and a convicted fraudster. Mehta's involvement in the 1992 Indian securities scam (about ₹30,000 Crores) made him infamous as a market manipulator .
On 31 December 2001, Harshad Mehta died of a heart ailment in the hospital. Since the scam came to light, several movies and web-series, inspired by Harshad Mehta’s life, have been released. In 2020, a Hindi web series, “Scam 1992 – The Harshad Mehta Story,” based on Harshad’s life, was released on Sony LIV.
- Harshad Shantilal Mehta [1] The Quint
- Stockbroker
Harshad Mehta was born on Thursday, 29 July 1954 (age 47 years at the time of death) in Paneli Moti, Rajkot, Gujarat. He spent his early childhood years in Mumbai’s Kandivali, where his father used to run a small textile business. Later, his family moved to Raipur, Chhattisgarh, where Harshad completed his schooling.
Mar 25, 2022 · Harshad Mehta was a stock market player as well as a money market broker. He was the favoured broker of State Bank of India and its subsidiaries, National Housing Bank, UCO Bank and ANZ Grindlays. While the banks were supposed to be trading securities with other banks, the funds were mostly credited to Harshad Mehta’s individual account.
Nov 15, 2020 · Harshad was living under criminal custody in Thane Prison at the time of his death. During the wee hours of New Year’s Eve, Harshad complained of severe chest pain and was admitted to Thane Civil Hospital, where he passed away from a heart ailment. Harshad Mehta was 47 years old at the time of his death and is survived by his wife and son.
The 1992 Indian stock market scam was a market manipulation carried out by Mr Harshad Mehta and politicians on the Bombay Stock Exchange. That scam caused significant disruption to the stock market of India, defrauding investors of over ten million USD. Techniques used by Mehta involved having corrupt officials signing fake cheques, misusing ...
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Oct 9, 2020 · The Harshad Mehta scam triggered many changes in India's financial regulatory system. The Securities Laws (Amendments) Act was passed in 1995, widening Sebi's jurisdiction and allowing it to ...
