Jyoti Mehta is an Indian woman who came into the limelight in 2022 after she launched a website in the name of her husband, Harshad Mehta, who was arrested by the Central Bureau of Investigation for his involvement in an Indian securities fraud in 1992. Harshad Mehta was an Indian stockbroker who allegedly tried to invest in the Indian stock market in large amounts2 in the index. ed from banks on the Bombay Stock Exchange (BSE), and this huge amount of investment resulted in high share prices and eventually, it crashed the stock market.
Harshad Mehta, arrested by the Central Bureau of Investigation in connection with a multicrore stock scam, was brought to the Esplande Court in Bombay in June 1992
Wiki/Biography
Jyoti Mehta was born as Jyoti Doshi in Mumbai.
Physical appearance
Hair Color: Black
Eye Color: Black
Family
Parents & Siblings
There is not much information about his parents.
Husband & Son
Jyoti Mehta was married to Harshad Mehta on 17 May 1977. Harshad Mehta was an Indian stockbroker, who did several small part-time jobs during his college days. Soon after completing his college studies, he joined the New India Assurance company as a salesman, and at the same time, he started investing in the Indian stock market. In 1984, he established his own company called GrowMore Research and Asset Management as a stock broker. During the years 1984 to 1990, he became popular with the name Big Bull.
Harshad Mehta
The couple has a son named Atur Harshad Mehta who was born on 12 November 1990.
Relationships/Affairs
She was in a relationship with Harshad Mehta before marrying him.
Launched the Website in the name of Harshad Mehta
Jyoti Mehta launched a website (https://www.harshadmehta.in/) in the name of Harshad Mehta in June 2022. In a media conversation, she stated that she wanted to uncover the facts of the story from her family’s point of view. On the website, Jyoti Mehta claims that after twenty-one years of her husband’s death, her family’s debt has reduced to a huge amount after years of fighting in court. She added that her family has been deprived of all basic human rights and other constitutional rights for the past three decades since her husband was arrested by the police. Jyoti Mehta stated on the website that her husband is still known as a stock market manipulator; although, he was not found guilty of all the allegations. He pleaded through his newly launched website that he wanted to defend Harshad Mehta posthumously. She also blamed India’s legal system for nearly crippling her family after her husband’s death. Jyoti Mehta wrote,
It causes severe legal disability to all of us besides throwing us all out of our business activities and income. For more than 2 decades we have lived without a bank account.”
File photo of a shopper inspecting Harshad Mehta’s Toyota Sierra at his Bombay residence. A total of 18 cars including six Toyotas and two Hondas were auctioned by the Special Court
Medical Negligence by Prison Doctors
On her website, Jyoti Mehta made allegations against the prison authorities and doctors who did not provide proper medical care to her husband for four hours when he suffered a heart attack at 7pm on December 30, 2001. Prison doctors did not have medicine for heart attacks. He added that after four hours of the first heart attack, Harshad Mehta was rushed to the hospital, where he died of the second heart attack. He wrote,
Just at 11pm, he was forced to walk the long way to the Thane hospital where he promptly died in a wheelchair after his cardiogram confirmed a second massive heart attack.
Jyoti Mehta further added that after the death of Harshad Mehta, the hospital authorities denied the autopsy report or Harshad’s Inquest to his family members. He wrote,
We were later told that an investigation has been ordered by the authorities and even an autopsy has been conducted but neither this Investigation Report nor the autopsy report has been given to us despite our repeated requests.” 
Poor treatment by the Income Tax Department
After 21 years of Harshad Mehta’s death in police custody, his wife launched a website where she explained that since her husband’s death, more than 1200 cases have been won by her family in court, and this victory reduced their financial debt from ₹30,000 crore to ₹4,000 crores. He further mentioned that his family has been harassed by the Income Tax Department for over three decades. Jyoti Mehta wrote,
After Harshad’s death and going through 3 rounds of illegal assessments, we have won more than 1,200 big cases and brought down invalid claims from ₹30,000 crore to ₹4,000 crore and also got refund to Custodians of ₹814.33 crore and have received IT refunds of around 500 crore and the department not more than 500 crore.
A June 1993 press conference addressed by Harshad Mehta, flanked by lawyers Ram Jethmalani and Mahesh Jethmalani, which his wife, Jyoti, described as a “defining day” that “changed our lives forever”.
Harshad’s meeting with Narasimha Rao
Jyoti Mehta called her husband’s meeting with then Prime Minister Narasimha Rao on November 4, 1991 as a defining day that changed her family’s life forever. He narrated on the website that Harshad Mehta was invited for the meeting by Narasimha Rao through Bharati telecom owner Sunil Mittal. Narasimha Rao and Sunil’s father Bharti Mittal were good friends. Jyoti Mehta mentioned that the Prime Minister referred issues related to the foreign exchange situation in India with Harshad Mehta and told Harshad that there are only seven days of foreign reserves left with the Indian government. The PM conveyed to Harshad,
The country’s foreign currency situation is worrying because there is only about 7 days of reserves and if it is not maintained the country can default and become a ‘banana republic’ and that will affect the Government’s plans to change the situation.”
File photo of stock market investors line up in front of bank counters with stock applications and deposits on Parliament street in New Delhi on May 8, 1992
Increase the Stock Market Index
On her website, Jyoti Mehta blamed the then Prime Minister for asking her husband to increase the stock market price by investing huge sums in 1991 so that it could increase the confidence of more investors in the Indian stock market by restoring their faith in it. He wrote,
My husband has been asked to improve the market and a promise has been made to him that he will have the blessing of the Government in doing so.”
He went on to write that in order to boost the Indian stock market index, several measures were adopted by Harshad immediately after the meeting with the then Prime Minister who on his behalf changed the then currency devaluation policy by introducing an immunity scheme; together, they managed to protect India’s foreign exchange reserves in 1992. He claimed that the stock market index in India was hovering at 1400, and after a meeting with the PM, the index was raised to about 2800 and rose sharply to 4487 in April 1992.
Jyoti Mehta in 2009
Facts/Trivia
- Reportedly, in the 1980s, during an event organized at the Navratri festival while playing dandiya-raas, Harshad Mehta fell in love with Jyoti Doshi, who was his neighbour.
- According to Jyoti Mehta’s website, Harshad Mehta sold all his jewelery to a stock market broker to meet his (Harshad’s) financial obligations after Harshad suffered a huge capital loss on 17 March 1982 due to a sudden fall in stock market prices.
- The Bombay Stock Exchange registered Jyoti Mehta as its member and styled it as M/s. JH Mehta in his book after he bought a stock market membership card in April 1991.
Categories: Biography
Source: SCHOOL TRANG DAI
