There was a profound irony in the timing of his death. Mehta died just as the Indian stock market was beginning to claw its way back from the doldrums of the dot-com bust. Yet, for the man who had once single-handedly lifted the Sensex to new heights, there would be no comeback.
After the 1992 scam broke, Mehta faced over 70 criminal cases and 600 civil suits. He had spent time in jail, navigated a maze of legal entanglements, and saw his vast empire dismantled by authorities. The stress of constant litigation, the seizure of assets, and the public vilification took a visible toll. He had grown significantly thinner, appearing gaunt and weary—a far cry from the portly, confident figure who once graced magazine covers challenging the traditional banking systems of India. how harshad mehta died
On December 31, 2001, the financial world of India paused to note the end of a turbulent era. Harshad Mehta—the man who had once been hailed as the "Big Bull" of the Dalal Street, the architect of a historic stock market boom, and the central figure of the 1992 securities scam—died in a government hospital in Thane. He was 47 years old. There was a profound irony in the timing of his death
Mehta was charged with several offenses, including rigging the stock market, cheating, and forgery. The trial lasted for several years, during which Mehta maintained his innocence. However, in 2000, the Supreme Court of India convicted Mehta of several charges, including cheating and forgery. After the 1992 scam broke, Mehta faced over
However, in 1992, Mehta's fortunes began to change when he was accused of rigging the stock market through a series of coordinated trades. The Securities and Exchange Board of India (SEBI) launched an investigation, which revealed that Mehta had been using a complex network of companies and brokers to manipulate stock prices.