Harshad Mehta is a name that resonates with both admiration and infamy in the world of finance and investment banking in India. Known as the “Big Bull” of the Indian stock market, Mehta’s life story is a compelling tale of ambition, deception, and the eventual unraveling of a financial empire. His meteoric rise in the 1990s, followed by a shocking fall from grace due to a massive stock market scam, has made him a controversial figure in Indian history. This article delves into the various facets of Harshad Mehta’s life, including his biography, personal life, career achievements, and the legacy he left behind.
Harshad Mehta Bio
Harshad Mehta was born on July 29, 1961, in a modest Gujarati family in the city of Mumbai, India. He was the son of a small-time businessman and grew up in a middle-class environment. Despite financial constraints, Mehta exhibited a keen interest in finance and investment from a young age. He completed his schooling in Mumbai and later pursued a degree in Commerce from L. S. Raheja College.
After finishing his education, Mehta began his career in the stock market as a jobber, a term used for someone who buys and sells stocks for short-term gains. His extraordinary ability to analyze market trends quickly propelled him to the forefront of the Indian stock trading scene. However, his rise was marred by illegal practices that would eventually lead to his downfall.
| Name | Harshad Mehta |
| Nickname | Big Bull |
| Profession | Stock Broker |
| Date of Birth | July 29, 1961 |
| Birth Place | Mumbai, India |
| Age (As of 2024) | Die |
| Home Town | Mumbai, India |
| Religion | Hindu |
| Ethnicity | Indian |
| Nationality | Indian |
Harshad Mehta Height, Weight, and Body Measurements
Harshad Mehta was relatively tall, standing at approximately 6 feet (183 cm). He had a robust build, weighing around 85 kg (187 lbs). While specific body measurements are not widely documented, he was known for his charismatic personality and confident demeanor, which contributed to his allure in the financial world.
| Height | 6 feet (183 cm) |
| Weight | 85 kg (187 lbs) |
| Eye Colour | Black |
| Hair Colour | Black |
| Skin Colour | Light |
| Dress Size | N/A |
| Shoe Size | 10 (US) |
Harshad Mehta Wife, Family, and More
Harshad Mehta was married to Jyoti Mehta, and the couple had two children, a son named Atul and a daughter named Jui. The Mehta family was often seen together at various social events, reflecting a close-knit family dynamic. While Harshad was known for his professional relationships in the stock market, there is little public information about any romantic involvements outside of his marriage. The Mehta family faced significant challenges during and after Harshad’s arrest, with many aspects of their lives publicly scrutinized.
| Marital status | Married |
| Dating History | N/A |
| Wife | Jyoti Mehta |
| Father | Shantilal Mehta |
| Mother | Rashilaben Mehta |
| Friend | Ketan Parekh |
| Sibling | Ashwin, Hitesh, Sudhir (Brothers) |
| Children | Atul (Son) Jui (Daughter) |
Harshad Mehta Personal Life
Mehta was known for his larger-than-life personality and extravagant lifestyle, which included luxurious cars, opulent homes, and a penchant for high-stakes gambling. His social circle included many influential people, including politicians and business tycoons, which allowed him to navigate the murky waters of the financial world with ease. However, beneath the surface, his personal life was fraught with stress and anxiety, particularly as his illegal activities began to unravel, leading to his eventual arrest in 1992.
| Blood Group | Will Get Soon |
| Sexual Orientation | Straight |
| Zodiac sign | Leo |
Harshad Mehta Career and Achievements
Harshad Mehta’s career took off in the late 1980s and early 1990s when he became a prominent figure in the Indian stock market. He was known for his bold investment strategies and his ability to manipulate stock prices, particularly in companies like ACC (Associated Cement Companies) and Reliance Industries.
Mehta’s most significant achievement came during the infamous 1992 Indian stock market scam, where he was alleged to have orchestrated a massive fraud involving the diversion of bank funds to manipulate stock prices. His tactics included exploiting loopholes in the banking system, using fake bank receipts to acquire shares, and creating artificial demand for certain stocks. At the height of his success, Mehta was a billionaire, with a reported net worth exceeding ₹5,000 crore (approximately $700 million) at the time.
However, the scam was exposed in April 1992, leading to a massive market crash and a loss of investor confidence. Mehta was arrested and faced multiple charges, including fraud, forgery, and conspiracy. The scandal had far-reaching consequences, prompting regulatory reforms in India’s financial system.
Harshad Mehta Net Worth
At the time of his arrest, Harshad Mehta’s net worth was estimated to be around ₹5,000 crore, making him one of the richest individuals in India. However, following the expose of his fraudulent activities and subsequent legal battles, his wealth diminished significantly. After his death in 2001, investigations continued into his assets, and many of his financial dealings were scrutinized, leading to substantial losses for his family and investors.
| Net Worth | 5000 Crore |
| Income Source | Stock Market, Battles, and Other |
Harshad Mehta School, College, and Education Details
Harshad Mehta completed his early education in Mumbai before enrolling at L. S. Raheja College, where he pursued a degree in Commerce. His education provided him with a foundational understanding of finance and accounting, which he later applied in his career as a stockbroker. Despite his relatively modest educational background, Mehta’s keen intellect and practical knowledge of the stock market allowed him to excel in an industry that often favored those with more formal credentials.
| School | In Mumbai |
| College | L. S. Raheja College |
| Education Qualifications | Degree in Commerce |
Harshad Mehta Favourite Things
Harshad Mehta had a taste for the finer things in life, which included luxury cars, expensive watches, and lavish parties. He was known to have a penchant for high-stakes gambling, and his lifestyle often reflected a desire for status and recognition. While there are no widely documented “favorite things,” his obsession with wealth and success was evident in his choices and actions throughout his life.
| Actor | Not Publicly Disclosed |
| Actress | Not Publicly Disclosed |
| Movie | Not Publicly Disclosed |
| TV Show | Not Publicly Disclosed |
| Destination | Not Publicly Disclosed |
| Song | Not Publicly Disclosed |
| Food | Not Publicly Disclosed |
| Sport | Not Publicly Disclosed |
| Hobbies | Not Publicly Disclosed |
Harshad Mehta Social Media Accounts
Given that Harshad Mehta’s life unfolded before the advent of social media, he did not have any social media accounts during his lifetime. However, after his death, various documentaries, films, and series have discussed his life, and his story continues to be a topic of interest on platforms like YouTube and Instagram, with fan pages and discussion forums dedicated to his legacy.
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| N/A | |
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Harshad Mehta Facts
- Early Career: Before becoming a stockbroker, Mehta worked as a clerk in a brokerage firm, where he gained insights into the workings of the stock market.
- Stock Market Manipulation: Mehta’s tactics included creating artificial demand for stocks, which significantly inflated their prices.
- Media Sensation: The media played a crucial role in both his rise and fall, with sensational reporting that captured the public’s fascination.
- Legal Troubles: After his arrest, Mehta faced numerous legal challenges, including a lengthy trial that lasted for years and involved multiple appeals.
- Death: Harshad Mehta died on December 31, 2001, in custody due to a heart attack, leaving many questions unanswered about his financial empire.
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FAQs About Harshad Mehta
Mehta’s downfall was primarily due to the exposure of his fraudulent activities in the 1992 stock market scam, which led to a massive market crash and his subsequent arrest.
Yes, Harshad Mehta was convicted in several cases related to the stock market scam, though he passed away before serving a significant portion of his sentence.
Mehta exploited loopholes in the banking system, used fake bank receipts, and engaged in insider trading to manipulate stock prices.
Harshad Mehta’s legacy is a cautionary tale in the realm of finance, highlighting the need for regulatory reforms and ethical practices in the stock market.
Final Thought
Harshad Mehta’s life story serves as a powerful reminder of the fine line between ambition and greed. His journey from a humble background to becoming one of India’s most notorious stock market manipulators encapsulates the complexities of human nature and the consequences of unethical behavior. While his legacy is marred by scandal and deceit, it has also sparked significant discussions about financial regulation and ethics in investing, ensuring that his impact on the financial world will not be forgotten.