Harshad Mehta Net Worth: Scam Details, Today Assets

Harshad Mehta Net Worth: When Harshad was alive, it was estimated that causing a scam that led to the loss of wealth to the tune of Rs 3542 crores $475 Million.

CA Ridhi Dhoot

Harshad Mehta Net Worth

Harshad Mehta Net Worth: Not just a simple stock broker, in fact, a millionaire in whose life, even films and seasons are being made, is none other than Mr. Harshad Mehta. Harshad Shantilal Mehta was born on 29 July 1954, in Rajkot, India. He was a stockbroker and was known for his risk-taking appetite and was often called The Big Bull or The Amitabh Bachchan of the Stock Market. The 1992 Indian Securities Scam led to the belief that he was a market manipulator.

Although Harshad Mehta was born in Rajkot, he spent his initial years in Mumbai and then shifted to Raipur. He went to Janta Public School in Bhilai. He was not fond of studies and loved cricket. After schooling, he again shifted to Mumbai for further studies and work. He completed his graduation in commerce from Lala Lajpatrai College. He took different jobs such as sorting diamonds, selling cement etc. Soon after he developed an interest in the stock market and started working as a jobber. Check out Ashwin Mehta Net Worth as of 2024.

Later in the late 1980s, he started his own firm Grow More Research and Asset Management along with his brother. In a short period, they had prominent investors and soon he and his firm started growing and he emerged as the highest advanced taxpayer in India. He started the Bull Run in the stock market and he traded heavily in the shares of such companies, which he thought were undervalued.

Harshad Mehta Net Worth

Harshad and his brother Ashwin Mehta used to handle the business together. Harshad Mehta is no more in this world, and his brother is estimated to have a very high net worth.


Content in this Article

NameHarshad Mehta
Net Worth (2024)$475 Million
Net Worth In Indian Rupees3542 Crore INR
ProfessionIndian stockbroker
Monthly Income1.5 Million +
Yearly Income18 Million +
Harshad Mehta Cars

It is said that Ashwin fought single-handedly to clear his brother’s name and paid around 1700 crores to banks to clear all the debts and the NPA’s.

When Harshad was alive, it was estimated that Harshad Mehta was directly responsible for embezzlingfunds ofRs 1439 crores ($193 Million) and causing a scam that led to the loss ofwealthto the tune of Rs 3542 crores ($475 Million) !!! Thus, his personal net worth increased enormously, while a lot of people lost all their wealth.

Harshad had expired on 31st December 2001 in Mumbai leaving behind his siblings Ashwin Mehta,Sudhir Mehta,Hitesh Mehta, his wife Jyoti Mehta, and SonAtur Mehta.

We could never imagine a person of Indian origin doing a scam like this and this seems like a movie, however, this is the real picture behind a person’s life.

What scam did Harshad Mehta do?

The scam in 1992 was a systematic fraud committed byMr. Harshad Mehtain the stock market of India. This created a huge blunder, which made the entire securities system collapse.

He managed to create a diversion of huge amounts from the banking channel to the stock market, by exploiting the various lacunas and loopholes in the broking system.

Harshadcommitted a fraud of over 1 billion rupees from the banking system to buy stocks on the Bombay Stock Exchange. Due to this transaction, the banking systems suffered a loss of about 3500 to 4000 crores.

Due to this scam and this loss to the banks, the stock market crashed badly. Thousands of innocent investors lost a lot of money and this scam became one of the biggest scams in the history of the world.

NameHarshad Mehta
ProfessionIndian stockbroker
Died31 December 2001
Birth Date29 July 1954
Height:6 ft 0 in (1.83 m)
Birth PlacePaneli Moti
Spouse:Jyoti Mehta (m. ?–2001)
Children:Atur Mehta
Estimated Net Worth$475 Million (Rs. 3542 Crore)

This is how big bull is made

In 1984, he started his own company and took membership of the Bombay Stock Exchange. The 80s were coming to an end, but Harshad’s fire was increasing. In the coming decade of the 90s, every newspaper was full of delight, every magazine had its pictures printed and big people yearned for a meeting with it. It is said that when the upper one gives, it makes thatch tear. The same thing was happening with Harshad. New people wanted to be like him, old people used to take his name with respect and everyone wanted to know what is the secret of Harshad Mehta.


What was the secret of Harshad Mehta after all

Harshad was the philosopher’s stone that the stock he used to touch became gold. Harshad’s value was more than Kohinoor’s in the stock market. But to understand the secret of Harshad Mehta, one has to understand the way of working. When he took interest in ACC’s stock, it was 200 rupees, but within a short time the price of this share reached 9 thousand. Think what was the secret that opened up the country’s banking system. What did he do that the stock market’s senses were blown away? And who was the person who revealed this?

The stock market was constantly touching a height and at the same time, Harshad Mehta was also growing.This was the time when the country’s economy was going through a phase of change.Privatization and foreign investment were increasing.The country had moved on the path of change.As long as the market kept growing, Mehta’s fire also kept growing, but a day came when the stock market went bust.Mehta could not return the money to the banks and then went on to open this ‘Harshad Mehta scandal’.

After this case, an article was published in the New York Times in which Debashish Basu, author of Business Today, said, “The problem is not Mehta. This is a unique time in the history of the Indian economy when old pages are being torn. In such moments, scamsters come out of their shells. ”

On the floor with havoc

The pen of Sucheta Dalal had done that which even those who burnt with Harshad could not.From Dalal Street to Parliament this scandal was being discussed.When the matter grew, a joint parliamentary committee was formed to investigate the matter.Along with Harshad, the CBI also arrested both his brothers Ashwin and Sudhir.72 criminal cases and more than 600 civil cases were registered against Harshad.

After this, that happened which had never happened before in the history of the country.Mehta claimed in a press conference that he had given a bribe of one crore to PM Narasimha Rao.Congress and Rao denied the allegations.There was never any evidence of this.But this case took a heavy toll on Narasimha Rao, as during this time he was also accused of bribing JMM MPs to save his government.

Aise dooba mehata ka taitainik

After getting bail, Mehta started his business again.He was getting bail in one case after another.It seemed that the days would change again.But in 2001, he was arrested again and sent to jail where he died of a heart attack on 31 December 2001.

According to a report by the Janakiraman Committee of RBI, the 1992 scam was worth Rs 4025 crore.The biggest case in this was of 600 crore fraud done with SBI.It is said that when he used to go to court, the crowd would gather to raise slogans in his favor.

Sucheta, a journalist who disclosed the case, was also awarded the Padma Shri Award in 2006.In an article on her blog, Sujata writes,

“The problem with Mehta was that he never changed his formula.He failed to realize that his old magic is no longer affecting the investors.He always lived in the world of appearances.After the SBI scandal surfaced, he had a photoshoot at the Mumbai Zoo feeding peanuts to the bears.Through this, he wanted to show that the stock market would always run at his behest.”

harshad mehta scam 1992 movie


  • Harshad Mehta’ Was born on July 29, 1954, in Paneli Moti Village, Gujarat
  • Harshad Mehta’s Height is 6 ft 0 in (1.83 m)
  • Harshad Mehta’s Weight is 78 kg (172 lbs)
  • Harshad Mehta is an Indian Stockbroker
  • Harshad Mehta’s Annual Income is
  • Harshad Mehta’s Net Worth is $475 Million as of 2024


What is the net worth of Harshad Mehta?

Harshad Mehta's total net worth is around $475 Million (Rs.3542 Crores).

How wealthy was he at his peak?

Estimates vary, but it’s safe to say Mehta amassed significant wealth during his years of market manipulation. Some reports suggest his personal fortune peaked at around Rs. 3542 crore (over $475 million in today’s terms)

What happened to his wealth after the 1992 scam?

Mehta’s scam involved siphoning funds from banks and financial institutions. When it unraveled, he faced legal repercussions and had to surrender a significant portion of his assets.

What is the current status of his family’s wealth?

Harshad Mehta’s wife, Jyoti Mehta, has publicly disputed claims of their remaining wealth. She maintains they suffered greatly due to the financial burden of legal battles and asset seizures.

When did Harshad Mehta die?

Harshad Mehta died on 31 December 2001, in Thane.

What is the height of Harshad Mehta?

The weight of Harshad Mehta is 1.83 M (6′ 0”).

What is the name of Harshad Mehta’s wife?

Harshad Mehta was married to Jyoti Mehta (m. ?–2001).

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CA Ridhi Dhoot

The writer is a Chartered Accountant & a Licentiate Company Secretary. You can reach out to her at ca.ridhidhoot@gmail.com


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