Harshad Mehta
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Harshad Mehta
From Wikipedia, the free encyclopedia Harshad Shantilal Mehta | Born | 29 July 1954[1]
Paneli Moti, Gujarat, India | Died | 31 December 2001 (aged 47)
Mumbai | Residence | Mumbai, Maharastra, India | Nationality | Indian | Ethnicity | Gujarati Jain | Citizenship | India | Occupation | Businessman, Stockbroker | Spouse(s) | Jyoti Mehta |
Harshad Shantilal Mehta (Gujarati: હર્ષદ મેહતા ) was an Indian stockbroker, charged with numerous financial crimes that took place in 1992. Of the 27 criminal charges brought against him, he was only convicted of one, before his death 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 in "ready forward" transactions between banks. Mehta was convicted by the Bombay High Court and Supreme Court of India[2] for his part in a financial scandal valued at 50 billion (US$860 million) which took place on the Bombay Stock Exchange (BSE). In reality he actually exposed the loopholes in the Bombay Stock Exchange (BSE)transaction system and SEBI further introduced new rules to cover those loopholes. He was tried for 9 years, until he died in the late 2001.[3][4] Contents [hide] * 1 Early life * 2 Career * 2.1 The 1992 security scam * 2.2 Exposure, trial and conviction * 2.2.1 Allegations of payment of bribe to India 's prime minister * 2.3 Death * 2.4 In popular culture * 2.5 See also * 2.6 References * 2.7 External links |
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Early life[edit]
Mehta was born on 29 July 1954,[5] at Paneli Moti, Rajkot district, in a Gujarati Jain family. His early childhood was spent in Kandivali, Mumbai, where his father was a small-time businessman. Later, the family moved to Raipur, Chhattisgarh, where Mehta studied in Kalibadi Higher Secondary School.
Harshad Mehta
From Wikipedia, the free encyclopedia Harshad Shantilal Mehta | Born | 29 July 1954[1]
Paneli Moti, Gujarat, India | Died | 31 December 2001 (aged 47)
Mumbai | Residence | Mumbai, Maharastra, India | Nationality | Indian | Ethnicity | Gujarati Jain | Citizenship | India | Occupation | Businessman, Stockbroker | Spouse(s) | Jyoti Mehta |
Harshad Shantilal Mehta (Gujarati: હર્ષદ મેહતા ) was an Indian stockbroker, charged with numerous financial crimes that took place in 1992. Of the 27 criminal charges brought against him, he was only convicted of one, before his death 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 in "ready forward" transactions between banks. Mehta was convicted by the Bombay High Court and Supreme Court of India[2] for his part in a financial scandal valued at 50 billion (US$860 million) which took place on the Bombay Stock Exchange (BSE). In reality he actually exposed the loopholes in the Bombay Stock Exchange (BSE)transaction system and SEBI further introduced new rules to cover those loopholes. He was tried for 9 years, until he died in the late 2001.[3][4] Contents [hide] * 1 Early life * 2 Career * 2.1 The 1992 security scam * 2.2 Exposure, trial and conviction * 2.2.1 Allegations of payment of bribe to India 's prime minister * 2.3 Death * 2.4 In popular culture * 2.5 See also * 2.6 References * 2.7 External links |
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Early life[edit]
Mehta was born on 29 July 1954,[5] at Paneli Moti, Rajkot district, in a Gujarati Jain family. His early childhood was spent in Kandivali, Mumbai, where his father was a small-time businessman. Later, the family moved to Raipur, Chhattisgarh, where Mehta studied in Kalibadi Higher Secondary School.
References: 5. ^ "Harshad Mehta & Ketan Parekh Scam". Flame. 1992-04-23. Retrieved 2013-05-21. 7. ^ "Harshad Mehta: From Pied Piper of the markets to India 's best-known scamster". Sucheta Dalal. 2001-12-31. Retrieved 2013-05-21.