Was Harshad Mehta clever?

He was a smart businessman with a criminal mind . He just wanted time so that the stock market could generate him revenue which could be used to make more funds and manipulate the financial markets .

Was Harshad Mehta a genius Quora?

According to my POV, Harshad Mehta was a genius and he exploited the loop holes in the Indian Banking System to make money and he wasn’t the only one who was doing so. There were others who were also involved in this but they weren’t punished as much as Mehta because they were laying low.

Was Harshad Mehta first billionaire?

Mehta was convicted by the Bombay High Court and the Supreme Court of India for his part in a financial scandal valued at ₹100 billion (US$1.3 billion) which took place on the Bombay Stock Exchange (BSE)….Harshad Mehta.

Harshad Shantilal Mehta
Occupation	Businessman, stockbroker
Criminal penalty	5 years rigorous imprisonment

Was Harshad Mehta really a scammer Quora?

The 1992 scam in the security system of India was a systematic fraud committed by Harshad Mehta in the Indian stock market which made the entire securities system collapse. Mehta allegedly committed a fraud of over 1000 crores from the banking system of India to buy stocks.

What Harshad Mehta did wrong Quora?

So, according to me, as much I understood the scam, he wasn’t wrong at all, it is said that he took securities and the money from opposite banks in his account, and invested the money in stock market. His way was wrong, but intention wasen’t. Mark my words,”he used to make profit out of the bank funds”.

Is growmore still active?

Growmore Research AND Assets Management LTD is majorly in Finance business from last 34 years and currently, company operations are active. Company is registered in Mumbai (Maharashtra) Registrar Office.