Who Is Harshad Mehta? Age, Biography, and Wiki
Harshad Mehta was born on July 29, 1954, and is often remembered as one of India's most infamous stockbrokers. He gained notoriety for his role in the Indian stock market scam of the early 1990s, which led to significant financial reforms in the country. Mehta's life is a saga of ambition, success, and downfall, culminating in his early demise in 2001. If he were alive in 2025, he would be 71 years old, continuing to be a subject of intrigue and speculation in the financial world.
| Occupation | Fraudsters |
|---|---|
| Date of Birth | July 29, 1954 |
| Age | 47 Years |
| Birth Place | Paneli Moti, Saurashtra State (now in Gujarat), India |
| Horoscope | Leo |
| Country | India |
| Date of death | 31 December, 2001 |
| Died Place | Thane, Maharashtra, India |
Popularity
Harshad Mehta's Popularity over time
Height, Weight & Measurements
Although specific measurements for Harshad Mehta are not widely documented, it is estimated that he stood around 5 feet 9 inches tall and weighed approximately 75 kg during his lifetime. His assertive personality and commanding presence were often noted in media portrayals, making him a figure of both admiration and controversy.
Family, Dating & Relationship Status
Harshad Mehta was married to Jyoti Mehta, and together they had two children. Their family life was put under intense scrutiny during the financial scandals, placing a strain on their relationships. Throughout his lifetime, there were rumors and speculations regarding his personal relationships, but he remained publicly committed to his family.
Net Worth and Salary
Before his demise, Harshad Mehta's estimated net worth reached staggering figures, often cited in the hundreds of millions of dollars, largely due to his involvement in the stock market. Despite his fall from grace, his legacy continues to influence the financial landscape of India. If we consider his ventures in 2025, had he been alive, he might have sought to rebuild his net worth through investments and entrepreneurial efforts.
Career, Business, and Investments
Harshad Mehta's career began in the late 1980s when he entered the stock market. He quickly gained recognition for his aggressive trading strategies, eventually becoming a leading figure in the Bombay Stock Exchange. His dealings with banks and financial institutions allowed him to manipulate stock prices, leading to astronomical gains. The scam he orchestrated unveiled serious gaps in financial regulations, prompting sweeping reforms in the Indian banking sector.
In 2025, the lessons learned from Mehta's controversial career would likely serve as essential case studies in financial education, inspiring new generations of investors and business leaders to navigate the complexities of the stock market ethically and legally.
Of the 27 criminal charges brought against Mehta, he was only convicted of four, before his death (by sudden heart attack) at age 47 in 2001. It was alleged that Mehta engaged in a massive stock manipulation scheme financed by worthless bank receipts, which his firm brokered for "ready forward" transactions between banks.
Mehta was convicted by the Bombay High Court and the Supreme Court of India for his part in a financial scandal valued at inr 100000000000 which took place on the Bombay Stock Exchange (BSE).
The scandal exposed the loopholes in the Indian banking system and the Bombay Stock Exchange (BSE) transaction system, and consequently the SEBI introduced new rules to cover those loopholes. He was on trial for 9 years, until he died at the end of 2001 from a heart attack.
Social Network
Harshad Mehta had a significant presence on social media, particularly on platforms like Twitter and Instagram, had he been active in the current digital age. His controversies and stories would have likely attracted a large following, serving as a reminder of his lasting impact on the finance world while engaging discussions on ethics and integrity within the industry.
Up to the early 90's banks in India were not allowed to invest in the equity markets. However, they were expected to post profits and to retain a certain ratio (threshold) of their assets in government fixed interest bonds.
Mehta cleverly squeezed capital out of the banking system to address this requirement of banks and pumped this money into the share market. He also promised the banks higher rates of interest, while asking them to transfer the money into his personal account, under the guise of buying securities for them from other banks.
At that time, a bank had to go through a broker to buy securities and forward bonds from other banks.
Mehta used this money temporarily in his account to buy shares, thus hiking up demand of certain shares (of good established companies like ACC, Sterlite Industries and Videocon) dramatically, selling them off, passing on a part of the proceeds to the bank and kept the rest for himself.
This resulted in stocks like ACC (which was trading in 1991 for ₹200/share) skyrocketing to nearly ₹9,000 in just 3 months.
Education
Harshad Mehta graduated from L. S. Raheja College of Commerce in Mumbai, where he developed an early interest in commerce and financial markets. His academic background provided a foundation for his later ventures in the stock market, demonstrating the importance of education in achieving financial success.
He did his early study in Janta Public School, Camp 2 Bhilai. A cricket enthusiast, Mehta did not show any special promise in school and came to Mumbai after his schooling for studies and to find work. Mehta completed his B.Com in 1976 from Lala Lajpatrai College, Bombay and worked a number of odd jobs for the next eight years.
