Harshad Mehta Biography

Harshad Mehta
(1954-2001)

He was born on 29 July 1954 in Rajkot.

From his adult age Harshad Mehta had a mind which attracted money in any situation. Harshad respected money very much. There is a web-series named The Bull of Dalal Street on ULLU based on the life of Harshad Mehta from its adult age to the moment where he made the biggest SCAM in India.

Then Harshad Mehta came to Mumbai, the City of dreams to fulfill his dream to become rich. His family background was poor. He had a family of 6 members including his 3 brothers, mother, and father.

Harshad Mehta already knew about Stock Market and how one can be rich through Stock Market. But initially Harshad Mehta wanted to study Finance and Accounting, which would help him. So Harshad Mehta started studying for BCOM in 1976 from Lala Lajpat Rai College, and to fill the college fees he worked in many part-time jobs.

One of The first part-time jobs of Harshad Mehta was being a manager of a Hotel/Dhaba, which involves a story around it. One day Harshad Mehta got to that Hotel for a meal and he saw that the business model of that hotel was not profitable and there he saw an opportunity for a job. But this was not enough, the owner gave Harshad Mehta the job of Hotel manager by seeing his skills in accounting and Harshad also promised the Owner to give him guaranteed profit which again made the owner trust Harshad more. Once he got the job he started working and studying on the Hotels business model, then he found out a loophole which would benefit both Harshad and the Hotel Owner, after applying that trick Harshad was earning more from that trick compared to its monthly payment. From this one example you would have should have gotten a sneak peek about how Harshad Mehta’s mind worked in case of Money.

After that Harshad Mehta also got a job in a Diamond wholesaler company where he found a problem in the accounts and balance sheet of that company. Harshad wanted to point out this problem in front of the Company’s Owner but as soon as he pointed out the problem he was fired from that job because the owner created this problem itself and the owner doesn’t want everybody to know about that.

After that Harshad Mehta presented his resume in a stockbroker company and after which he got a job as a Stock Broker which he did for a while and there he learned to invest in stocks, his first investment was 10,000 Rs. which he invested by the recommendation of his friend and at that time the Stock Market was crashed which resulted in his 10,000 Rs. to become only 200-300 Rs. which eventually shocked Harshad Mehta because he invested his all savings in it and he was completely broke at that time.

Which then inspired him to learn about the stock market properly and deeply. He requested his company’s boss to teach him about the stock market and the boss of that company is no one but his wife. She taught her everything about the Stock Market, which made him confident about his Investments. After all teachings and experiences he got, he learned many things about the Stock Market and it resulted in successful investments by him.

He was then earning huge money from the stock market with his trading and investing methods, and he also involved his brother with him in this business.

Now they were 3 people, including his brother and his wife. As his profits were growing, he opened a brokerage firm named as Grow More Research and Asset Management.

As its name, this company's growth was at a rise and it had made its name in the market, this success of the company and the wealth he was having made Harshad Mehta a trustable name in the market. Harshad Mehta also had many political and Bollywood connections, which helped him in making the biggest SCAM of India possible. In the next blog I will cover the Harshad Mehta SCAM and full details regarding it. They jailed Harshad Mehta for collapsing the entire banking system in 1992 and on 31st Dec 2001 Harshad Mehta was no more, he had chest pain at 11pm in the Thane Jail and was then shifted to Thane Civil Hospital where he breathed last on 12:40 am.

Next Blog:

Harshad Mehta SCAM