Where is the Harshad Mehta family now?
Harshad Mehta’s son, Atur Mehta, bought a significant stake in Fair Deal Filaments, a BSE-listed textile firm, according to a Business Standard article. According to ScoopWhoop, in late 2019, the Income Tax Court scrapped almost the entire tax claim of Rs 2,014 crore on Harshad Mehta, his wife, and brother. Harshad Mehta’s wife, Jyoti Mehta, won a case against stockbroker Kishore Janani and Federal Bank, who had owed Rs 6 crore to Harshad Mehta since 1992, as stated in the same year. The report claimed that Jyoti was eligible to receive the full sum at an interest rate of 18 percent.
Harshad Mehta’s brother, Ashwin Mehta, on the other hand, earned a law degree. As stated, in both the Mumbai High Court and the Supreme Court, he is a lawyer practicing law. The study also claimed that Ashwin Mehta single-handedly battled many court cases.
Who Is Harshad Mehta’s Son?
Harshad Mehta had only one brother, Atur Mehta (or Aatur), who like his dad, is a Mumbai, India-based Indian businessman, investor, and entrepreneur. While most famous as the son of the man who was the mastermind behind the 1992 Indian securities fraud, Atur himself prefers to live a life away from the public eye as a master stockbroker.
In reality, since Atur is not on any social media site and keeps his head low, no specific information about him is available anywhere-no one even knows exactly when he was born or how old he was when his dad died in 2001 of a sudden heart attack. Atur does not give interviews, declines to make public appearances, and only seeking to move on from his past, prefers to have his identity unknown.
Where Is Atur Mehta Now?
Atur Mehta bought a 23 percent stake, very substantial, in Fair Deal Filaments, a textile company listed on the Bombay Stock Exchange, his apparent favorite field for investment, according to a Business Standard article. “Fair Deal Filaments announced: “The board of directors of the company has given its consent to… enter into an agreement to be executed by the company, the promoters of the company with Aatur Harshad Mehta and Sanalkumar Kizhepata Menon for the purchase of 1,45 million equity shares each in 2018.
In addition, numerous articles say that Atur, a private school graduate, has also set up his own business in the area, but no one knows what he does or the sector he is in. People began to associate Harshad Mehta’s son with Atur Mehta, who is the co-founder and CTO of a company called Square Off, which is also located in Mumbai, because of the common name.
The latter made it clear on his social media pages, however, getting tired of all the similarities and questions, that he is in no way related to Harshad Mehta” or any other member of that family. In addition, some say that when it comes to Atur, he and his mother, Jyoti, have moved to the United States of America since then, where they hope to start a new life for themselves and get away from all scrutiny. But at this point, without confirmation, all that remains is speculation.
Harshad’s brother Ashwin Mehta
In his mid-50s, Harshad’s brother, Ashwin Mehta, pursued a degree in law and is today a busy lawyer practicing in the High Court and Supreme Court of Mumbai. He single-handedly fought many court cases and charged almost 1,700 crores to banks to clear the name of his brother.
He was Harshad’s lawyer and also his company’s stockbroker.
Although the case against Harshad Mehta was terminated shortly after his death in 2001, Ashwin battled the legal fight until 2018 when in a case of replication of the State Bank of India, he was acquitted by a special court.
Sucheta Dalal is presently working as the Managing Editor of Moneylife magazine. It’s about savings and financial advice for individuals.