Harshad Mehta Net Worth 2021: What scam did Harshad Mehta do?

Mr. Harshad Mehta is barely a stockbroker, instead, he is recognized as The Amitabh Bachchan or The Big Bull of the Stock Market. Unfortunately, he expired on the 31st of December 2001 in Mumbai. Today all his wealth and business is handled by his siblings Ashwin Mehta, Sudhir Mehta, and Hitesh Mehta. However, the scam of Harshad Mehta seems to be more than the Bollywood movies. Right here we are going to discuss everything about Harshad Mehta starting from his net worth to the scam he did. 

Harshad Mehta Net Worth 2021. 

Mehta’s business was handled by Harshad Mehta in assistance with his brother, Ashwin Mehta. After Harshad Mehta’s demise on the 31st of December 2001, Ashwin Mehta decided to oversee the entire business. At present, his net worth is estimated to be roughly around $ 475 Million or we can say it is Rs 3542 Crore INR. Discussing his monthly income, it is more than 1.5 Million. As far as his annual income is concerned, we can expect it to be more than 18 million. After the demise of Harshad Mehta, it is asserted that Ashwin compensated about 1700 crores to the bank to wipe all deficits and NPA pertained to Harshad Mehta. 

Harshad Mehta Personal Details. 

Mr. Harshad Mehta was born on the 29th of  July 1954 in Paneli Moti, Rajkot. His father was a small-time textile businessman at his birthplace. To complete his schooling, he went to Janta Public School, Camp 2 Bhilai, and later moved to Bombay to pursue his B.Com in 1976 from Lala Lajpatrai College. He was married to Jyoti Mehta who left Mumbai and is currently living in the US, America with her son, Atur Mehta. 

What Scam Did Harshad Mehta do? 

Harshad Mehta’s scam is still considered the biggest scam of all time. He has committed a Fraud of roughly around 1 billion rupees from the banks. He is considered as the biggest manipulator who had created fake bank Receipts as well as fake Stamp papers to draw away large sums from the banking unit. He decided to utilize the money to purchase stocks on the Bombay Stock Exchange. 

As a result, the banking systems lost a huge amount of money roughly about 3000-4000 crores and various innocent investors suffered a great loss. This scam of 1992 done by Mr. Harshad Mehta is considered the biggest scam in Indian history. The case was brought into light by journalist Sucheta Dalal on the 23rd of April 1992. She exposed all the illegal methods in a column in The Times of India. For her work, she was honored with the Padma Shri Award in 2006. 

CONCLUSION 

Undoubtedly, Harshad Mehta was one of the topmost stock manipulators as well as efficient Indian stockbrokers. With his intelligence, he had efficiently committed such a big scam in the banking system. All the money was utilized by him to live a luxurious life, he owned many luxurious brand new cars which include Benz Jaguar, Rolls Royce, etc.