If you have not watched it but you have heard about the famous Indian series “SCAM 1992”. It is a story about a simple man from India Atur Harshad Mehta who became a famous investor by finding loopholes in the Indian government.
Let’s go ahead in the article and learn more about Atur Harshad Mehta and its infamous scam.
Who is Atur Harshad Mehta?
Most Indian citizens have not heard about Atur Harshad Mehta, but he has made a devastating impact on the Indian financial system. Atur Mehta was born into a Jain family in Maharashtra, Mumbai, and his father had a business about importing and exporting goods. Despite being financially not stable Atur was determined to pursue his dreams.
Atur while growing up developed an interest in the finance and economics sector. He completed his study in commerce at the Xavier Institute of Management and Research in Bombay now known as Mumbai. He has a degree in banking and finance.
Atur started their career as a stockbroker and soon achieved great heights in the Indian stock market. He became famous for using loopholes in the financial system to manipulate the stock markets of some companies listed on the Bombay Stock Exchange (BSE). His activities caused a huge spike in activity on the markets, which eventually led to India’s “Harshad Mehta Scam”. At the peak of his career, he held over 7% of all capitalization on the BSE.
Atur Harshad Mehta earned crores of rupees from his activities in the stock market which enabled him to live a luxurious lifestyle. When asked by the reports specialist working on the Harshad Mehta case it states he has assets of over 200 million dollars. Unfortunately, over time, his wealth decreased when he started facing charges and repaid most of it with the money he had allegedly obtained illegally.
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Atur Harshad Mehta Biography
| Name | Atur Harshad Mehta |
| Age | 40 |
| Gender | Male |
| Date of Birth | 1980 |
| Nationality | Indian |
| Net Worth | 2-3 crore |
| Qualification | Graduate |
| Profession | Investor |
Career & Net Worth of Atur Harshad Mehta
Atur began trading stocks during his teenage years, but it didn’t happen until 1987 that he truly brought about a track record for himself when he became involved in The Big Bull incident, additionally referred to as the ‘Harshad Mehta Scam’, which consisted of extensive fraud. Due to various frauds and illegal financial crimes, Hrshad Mehta’s net worth cannot be estimated. However, it is roughly estimated that his net worth is 2-3 crores.
Early Life and Wiki of Harshad Mehta
Atur Harshad Mehta was born in 1960 to a Gujarati Jain trading family in Mumbai. He went on to study at Jai Hind College, where he mastered courses like economics and finance, setting the groundwork for his future profession as a financier. His thorough awareness of the markets enabled him to swing transactions with ease, giving him an advantage over other stockbrokers.
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Personal Life of Atur Harshad Mehta
While nothing is known about Atur Harshad Mehta’s personal life and family, he had two sons, Ashwin and Bhavin Mehta, both of whom are highly successful entrepreneurs.
Atur Harshad Mehta was an Indian stockbroker who is widely recognized for being a participant in the 1992 securities scandal as an example He was convicted and imprisoned in 1998 resulting from a Central Bureau of Research (CBI) request for information.
Mehta was born in Bombay, India, on April 29, 1955. He had two younger brothers and spent his childhood in a family with limited resources. Despite his economically disadvantaged beginnings, he possessed a natural style for stock trading, and by the mid-1980s, he was considered one of India’s throughout the process traders.
Mehta married Jyoti, a native of Pune, India, in 1990. His stock trading abilities were already making the individual incredibly successful and wealthy people at the time of his death. They were blessed with two children together, Abhilash and Shweta, who subsequently pursued law in the United States of America and the United Kingdom, respectively.
Mehta’s family was composed of his father, Gokalbhai, mother, Shantaben, two younger brothers, Ashokbhai and Sudhirbhai, and two children, Abhilash and Shweta with Jyoti. His family initially took advantage of Atur’s success as a stock trader, with three of them working to obtain him at some point in their respective careers. However, his family was left devastated when Gokalbhai died unexpectedly in 1998 because of a cerebral hemorrhage, shortly before Atur was sentenced to death.
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Family of Atur Harshad Mehta
Atur Harshad Mehta is a business entrepreneur with the same shareholders and former stockbroker. Atur, born in 1959, became acquainted with making a living at the age of 18 by connecting with his father’s firm. The rest, as they say, was indeed history. His popularity as the “Big Bull” of the Indian stock market quickly gained momentum during his extraordinary stay with the Bombay Stock Exchange (BSE). He was considered the face of business and finance in the 1990s, and he was given an extensive amount of media attention after several investigations involving suspected financial impropriety have been filed against him. Mehta started manipulating stocks on the BSE illegally in 1992, which accumulated millions of dollars in money earned by carrying out malpractices which included insider trading and driving up the selling price of weak shares. As a result of these business operations, Mehta developed a reputation as the “Big Bull” of India’s thriving securities company operations in the latter part of the decade and early 2000s. His success established him as one of India’s highest
Conclusion
Atur Harshad Mehta was an Indian stockbroker and one of the most widely recognized financial specialists of his era. Mehta, a self-made financial entrepreneur at the same time revolutionized the country’s trading and investment dynamics. He rose to a prominent position after his involvement in the 1992 securities scam, for which he was later found guilty and in jail.
Mehta’s early life was difficult to comprehend and he struggled with it for many years in order to make ends meet. Despite these obstacles, he was still able to make something of himself by sheer fierce determination and hard efforts. After dabbling in insurance policy revenue generation, he eventually became a successful stockbroker. His experience of securities trading proved invaluable, which allowed him to make enormous profits on little investments. This eventually led him to become one of India’s top stockbrokers in the early 1990s.
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