|Jyoti Doshi Harshad Mehta's Website
|Being the wife of Harshad Mehta, popularly known as "The Big Bull," who was detained in stock market scam in 1992 and died on 30 December 2001 in police custody.
|Physical Stats & More
|Relationships & More
|17 May 1977
|Son- Atur Harshad Mehta
• Aswin Mehta
• Sudhir Mehta
• Hitesh Mehta
Some Lesser Known Facts About Jyoti Mehta
- Jyoti Mehta is an Indian woman who is known for being the wife of Late Harshad Mehta, who was an Indian stockbroker, and in 1992, he was involved in the Indian securities scam, which led to his detention in the same year by the Central Bureau of Investigation. This scam made him an infamous market manipulator. Reportedly, In 1992, Harshad Mehta invested a high amount of borrowed money from banks into equities of the Bombay Stock Exchange (BSE), and consequently, this high amount of investment shook the stock prices so up that it led to the crash of the stock market. Later, the CBI discovered this fraud and arrested him.
- According to some media sources, Harshad Mehta and Jyoti Doshi were neighbours, and he fell in love with her during Navratri playing dandiya-raas in the 1980s. During this time, Harshad was trying his hands at several menial jobs after completing his college studies. Later, Harshad Mehta started his career as a salesman at the New India Assurance company. In the meantime, he started investing in the stock market. On 17 March 1982, due to a sudden fall in the prices of the stock market, Harshad lost all his capital and incurred huge losses. To meet his financial obligations, Jyoti’s jewellery was handed over to the broker by Harshad Mehta. Thereafter, he started his own venture named GrowMore Research and Asset Management in 1984. From 1984 to 1990, he came to be known as Big Bull. In April 1991, Jyoti Harshad Mehta bought a stock market membership card, and she was registered as a member styled as M/s. J.H. Mehta by Bombay Stock Exchange.
- In 2022, Harshad Mehta’s wife, Jyoti Mehta, launched a website named https://www.harshadmehta.in/, and through her website, she wanted to disclose the side of the story from her family’s perspective. She claimed on her website that her husband died in jail due to the negligence of jail authorities who denied him medical treatment for four hours after he suffered a heart attack on 30 December 2001 at 7 PM. Jyoti Mehta mentioned on the website that the proper medical treatment was not provided to Harshad Mehta by the jail doctors. After the first heart attack, he was shifted to a hospital, where he died after suffering a second heart attack. Jyoti wrote,
Only at 11 p.m., he was made to walk for a long distance to the Thane hospital where he immediately succumbed in a wheelchair after his cardiogram confirmed a massive second heart attack.”
Jyoti Mehta further added that no post-mortem or Inquiry report was provided to her family by the hospital authorities after the death of Harshad. She wrote,
- This website was launched by her online nearly 21 years after the custodial death of Harshad Mehta. On the website, Jyoti Mehta mentioned that over 1200 legal cases were won by her family and the monetary debt on her family was also brought down from ₹30,000 crores to ₹4,000 crores in court during the legal battle they fought after the death of Harshad Mehta. She mentioned that the Income Tax Department harassed her family for nearly three decades. She wrote,
After Harshad’s demise and suffering 3 rounds of illegal assessments we have already won more than 1,200 large cases and brought down the illegal demands from ₹30,000 crores to ₹4,000 crore and also secured refunds to the Custodian of ₹814.33 crore and further refunds of about ₹5,500 crores are already overdue and not being made by the I-T department.”
- On her newly launched website, Jyoti Mehta proclaimed that when the remaining appeals would be heard in the court, the debt and revenues against her family would fall to about ₹200 crores. She claimed on the website that the fundamental and other constitutional rights of her family had been violated over the last thirty years. She stated that her husband was still known as a scamster in the media; however, he was not proved guilty of allegations made against him. According to her website, she tried to defend Harshad Mehta posthumously. Her website states that the legal system was virtually paralysing her family. It mentioned,
It cast acute legal disability on all of us besides throwing all of us out of our business and income-earning activities. For more than 2 decades we have lived without bank accounts.”
- Jyoti Mehta exposed on her website that the then Hon’ble Prime Minister, Narasimha Rao summoned Harshad Mehta for a meeting. Harshad received this summons through Sunil Mittal, the owner of Bharti Telecom as the father of Sunil Bharti Mittal was a good friend of Narasimha Rao. According to her, in the meeting, the then Prime Minister discussed the problematic situation of foreign currency situation in India. PM conveyed to Harshad,
The foreign currency situation of the country was alarming as there were reserves of only about 7 days and if they were not shored up the country could default and become a ‘banana republic’ and which would jeopardise the plans of the Government to turn around the situation.”
- Jyoti Mehta conveyed on the website that her husband was asked by the then Prime Minister to boost the stock markets so that it could revive the inner spirit of the investors and build confidence in the economy. Times Now She wrote,
My husband was asked to boost the markets and a promise was made to him that he would have the blessings of the Government in doing so.”
- Jyoti Mehta reported on her website that soon Harshad Mehta took several steps to boost the stock market by making huge and long-term investments. On the other side, the Government of India also reformed its policies on currency devaluation and introduced immunity schemes immediately so that it could protect its foreign currency reserves. She claimed that soon after these investments by her husband the stock market index, which was hovering at 1400 was boosted to about 2800. She further asserted that in April 1992, the index recorded a sharp rise of 4487.