Harshad Mehta Biography
|Full Name||Harshad Mehta|
|Nick Name||The Big Bull|
|Famous For||1992 Stock Market Scam|
|Harshad Mehta Height (Approx):||5 Feet 6 Inches|
|Weight(Approx):||Kilograms:- 68 kg Pounds:- 149 lbs|
|Personal Life Info|
|Date Of Birth||29 July 1954|
(At The Time Of Death)
|Star Sign/Zodiac Sign||Leo|
|School||Holly Cross Senior Secondary School|
|College||Lala Lajpat Rai college of commerce and economics|
|Likes & Dislikes|
|Favourite Actress||Jenefer Lawrence|
|Father||Shanti Lal Mehta|
Harshad Mehta The Big Bull (scam 1992)
Harshad Mehta was also known as “Amitabh Bacchan” of the stock market.
He is also called The “Big Bull” of the stock market. According to the expert, Harshad Mehta didn’t do any fraud, it exposes the loophole of the system. There Are approx 26 criminal charges against him but
But he only accepted four, he died at the age of 47 in 2001. he controlled stock by illegally taking money from several banks using fake bank receipts. he created a cycle of fraud involving big banks like the state bank of India and the national housing bank.
He did his schooling from Janta public school, Bhilai. he came to Mumbai after his schooling for further studies and to find work. Harshad Mehta completed his B.com from Lala Lajpat rai college, Mumbai in 1976. after that, he does a number of small jobs for their livelihood.
Work and Luxurious lifestyle
Harshad Mehta came to Mumbai with only 40rs in his pocket. Once he got interested in the share market then he worked for broker Prasanna pranjivandas in 1980. after that he worked for several brokerage firms then he started his own brokerage as the name “Grow More”.number of people
Started investment in his firm using his service. this was the time that he started heavily in the stock market. he invests in ACC (Associated cement Company) the price of this share started rising from 200- 9000 rupees due to buying in large amounts. Harshad said that this price is undervalued and the market corrects it and it is called the replacement theory.
During this time around 1990, he has covered in a cover of many famous magazines including Business today. his luxurious lifestyle sea-facing 15000 square feet penthouse with golf course and swimming pool. he has one of the expensive car collection includes Toyota Corolla, Lexus LS400, Toyota sera at that time this car was rare even for the rich people of India. Financial journalist Sucheta Dalal exposed Harshad Mehta as India’s biggest Financial Scam.
The 1992 Scam
In the 90s century, banks were not investing money in the share market. Harshad Mehta took money from the bank and invested in the share market; he also promised the bank a higher rate of interest. The large amount invested in the ACC due to this price of the share rises from 200-9000 rupees in just 3 months.
Another instrument that was misused by Harshad was bank receipt. Harshad issued fake BR from bank and BR not backed by any government securities.
Once the fake BRs issued Harshad transfer to it another bank and the bank gave money to Harshad, it shows that money lent against securities but it was not like that he invested money into the share market and the market was overheated.
The scam 1992 directed by hansel Mehta in 2020 it is in the Hindi language crime drama web series. the IMDb rating is 9.5/10. It became very popular among the people.it was one of the biggest financial scams of the Indian system. Harshad also called the “Bacchan of BSE”.It was rags to riches story till Sucheta Dalal financial journalist exposed Harshad as a biggest financial scam. The producer of the biopic is Sameer Nair, Deepak Segal, Indranil Chakraborty. For the first time, CBI compelled to launch an investigation in financial crime. Harshad Mehta died in the custody.