Jyoti Mehta is an Indian lady who rose to prominence in 2022 after launching a website under her husband name, Harshad Mehta, who was detained by the Central Bureau of Investigation in 1992 for his role in the Indian stocks fraud.
Harshad Mehta was an Indian stockbroker who reportedly attempted to raise the index of the Indian stock market in 1992. This happened by investing a big amount of money borrowed from banks in the Bombay Stock Exchange (BSE). Although, this resulted in high stock prices and finally destroyed the stock market.
Jyoti Mehta Bio/Wiki
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Harshad Mehta’s Website Is Being Launched
In June 2022, Jyoti Mehta started a website in Harshad Mehta’s name (https://www.harshadmehta.in/). In a television interview, she indicated that she wanted to learn the truth of the tale from her family’s perspective. She went on to say that her family has been denied all basic constitutional rights for the past three decades. Ever since her husband was held by the police.
Jyoti Mehta wrote on the website that her husband was still recognized as a stock market manipulator. Moreover, he was not found guilty of all claims. She expressed her desire to defend Harshad Mehta posthumously on her newly founded website. She also accused India’s judicial system of effectively paralyzing her family following her husband’s death.
Jyoti Mehta Husband
On May 17, 1977, Jyoti Mehta married Harshad Mehta. Harshad Mehta was an Indian stock broker who worked various part-time jobs throughout his undergraduate years. Soon after finishing college, he began working as a salesperson for New India Assurance. As a stock trader, he founded GrowMore Research and Asset Management in 1984.
From 1984 through 1990, he was known as Big Bull. The couple has a son named Atur Harshad Mehta, who was born on November 12, 1990.
Jail Doctors’ Medical Negligence
Jyoti Mehta accused the jail officials and medics of failing to provide sufficient medical treatment to her husband for four hours after he suffered a heart attack at 7 p.m. on December 30, 2001, on her website. The prison physicians did not have any heart attack medication. She went on to say that Harshad Mehta was transported to the hospital four hours after the initial heart.
Jyoti Mehta went on to say that after Harshad Mehta died, the hospital officials refused his family members access to the post-mortem or Inquiry reports.
Income Tax Department Mistreatment
After Harshad Mehta died in police prison after 21 years, his wife started a website in which she stated that since her husband’s death, her family had won over 1200 court cases, lowering their monetary debt from 30,000 crores to 4,000 crores. She further stated that her family had been persecuted by the Income Tax Department for more than three decades.
Meeting between Harshad and Narasimha Rao
Jyoti Mehta described her husband’s encounter with then-Prime Minister Narasimha Rao on November 4, 1991, as a momentous day that impacted her family’s life forever. She stated on her website that Narasimha Rao invited Harshad Mehta to a meeting through Sunil Mittal, the owner of Bharati Telecom.
Sunil Bharti Mittal’s father and Narasimha Rao were close friends. Jyoti Mehta stated that the Prime Minister discussed the foreign currency situation in India with Harshad Mehta and informed him that the Indian government only had seven days of foreign reserves.
Increasing the Stock Market Index
Jyoti Mehta criticized the then-Prime Minister on her website for instructing her husband to improve stock market prices by investing large sums in 1991 in order to enhance the trust of additional investors in the Indian stock market by restoring their faith in it.
She went on to say that Harshad took several measures to boost India’s stock market index soon after meeting with the then-Prime Minister. She said that the Indian stock market index was hovering at about 1400 before the meeting with the Prime Minister. After the meeting, the index increased to around 2800 before skyrocketing to 4487 in April 1992.
Jyoti Mehta Net Worth
Jyoti became entangled in a series of court fights after Harshad Mehta was arrested. She was attempting to obtain money that belonged to her spouse. After 27 years, the Tax Appellate Tribunal dismissed practically the whole tax claim of about 2000 crore against Harshad, his wife, Jyoti, and his brother, Ashwin Mehta.
Harshad owes nearly six crore rupees to stockbroker Kishore Janani and Federal Bank since 1992. Jyoti won a case against them the next year, in 2019. Because she was his sole beneficiary, she was entitled to the entire sum plus 18% interest. Her current net worth is still not known.
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Jyoti Mehta Quick Facts
- Harshad Mehta fell in love with his neighbor Jyoti Doshi during a Navratri festival event in the 1980s while playing dandiya-raas.
- According to Jyoti Mehta’s website, Harshad Mehta sold all of her jewelry to a stock market broker to pay his (Harshad’s) financial commitments after Harshad experienced a massive loss of cash owing to a rapid drop in stock market prices on March 17, 1982.
- After purchasing a stock market membership card in April 1991, the Bombay Stock Exchange recognized Jyoti Mehta as a member and styled her as M/s. J.H. Mehta in its books.
She has set up a website to defend her late husband, Harshad Mehta, who died in police custody on December 30, 2001. The widow of the late stock trader has alleged on this website that her husband died as a result of medical malpractice.
Harshad Mehta was the country’s only importer of the Lexus LS 400. People couldn’t even imagine purchasing such high-end vehicles in the 1990s.
She is 62 years old as of 2023.