Harshad Mehta Indian Stockbroker Car Collection & Net Worth

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1992 Scam Accused Harshad Mehta Expensive Car Collection

Harshad Mehta was an Indian stockbroker. Mehta’s involvement in the 1992 Indian securities scam made him infamous as a market manipulator. Of the 27 criminal charges brought against Mehta, he was only convicted of four, before his death at age 47 in 2001. 

It was alleged that Mehta engaged in a massive stock manipulation scheme financed by worthless bank receipts, which his firm brokered for “ready forward” transactions between banks. 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). The scandal exposed the loopholes in the Indian banking system and the Bombay Stock Exchange (BSE) transaction system, and consequently the SEBIintroduced new rules to cover those loopholes. He was on trial for 9 years, until he died at the end of 2001.

Harshad Mehta Net Worth

So, Based on the reports published by multiple media sources, Harshad Mehta Net Worthis estimated to be more than $480 Millions, which is equivalent to be more than ₹ 3566 Crores in Indian Rupees.

Harshad Mehta Car CollectionPrice (INR)
Lexus LS400Rs. 40-50 Lakh
Hindustan Motors ContessaRs. 5.09 Lakh
Fiat PadminiRs. 2.0 Lakh
Hindustan AmbassadorRs. 4.21 Lakh 
Honda AccordNA
Mercedes Benz W126NA
In the early 1990s, when Mehta already had 15-20 cars in his garage.

1. Lexus LS400

The first car and the most popular car related to Harshad Mehta character. Besides stockbroking, Harshad Mehta was an avid enthusiast of vehicles. When Harshad Mehta imported the Lexus LS 400, he was the only one in the country. People couldn’t even dream of buying such high-end cars in the 1990s.

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Harshad Mehta likely didn’t mind paying a whopping amount of Rs 45 lakh for the LS 400. It was a first-generation Lexus LS 400 codenamed XF10, a high-end luxury automobile with 250 horsepower and 353Nm Torque from a massive 4000 cc V8 engine connected to a four-speed automatic transmission, and a sedan that was rarely seen on Indian roads at the time. It used to take 8.5 seconds to accelerate from 0 to 100 kmph , with a top speed of 250 kmph.

2. Hindustan Motors Contessa

The next car in her garage is HM Contessa. This is very popular and good car at that time. The brute force, the elemental stance and the luxury comfort, all at one place. Harshad Mehta also has India’s very own brand, known for the Ambassador is also known for India’s indigenous muscle car, the Contessa. In 1990’s Hindustan Motors cost at the whooping price tag of Rs 5.90 Lakh. During those days the company equipped it with a 1.5-litre BMC B-series engine which could produce 50hp of power, the same that powered the Ambassador. The engine came mated to a four-speed manual gearbox. HM Contessa could reach up to 125kmph.

3. Fiat Padmini

Next, Fiat Padmini was also the part of Harshad Mehta garage. Premier was the one to introduce one of the favourite family cars ever launched, Padmini. But before taking a look at the car’s history, let’s see how the company came into existence. Premier Padmini was equipped with a Fiat-sourced 1.1-litre four-cylinder petrol engine which could produce 47hp of power @4,800rpm and a peak torque of 71Nm @ 3,000rpm. It was paired to a 4-speed manual transmission. The car was a rear-wheel drive. With all this coming together, the car could reach a top speed of 130kmph. The Premier Padmini or the Fiat 1100D was indeed a powerful car.

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4. Hindustan Ambassador

This is also the most popular car in India. In India Hindustan Ambassador has no need of introduction. It was a 1.5-litre BMC B-series engine that could churn out 37hp of power. The car also featured a 1.5-litre carburated petrol engine which produced 50hp of power and a peak torque of 100Nm. All the engines came with a 4-speed manual transmission option.

5. Honda Accord

After many Indian car now we some foreign brand car. As there were no plant at that time in India Mehta definitely imported it. Being an avid car enthusiast he don’t care paying some extra on those. This car equipped with 2.2 litre inline 4 cylinder engine which is capable of producing 125 hp.

6. Mercedes Benz W126

Very popular Mercedes Benz W126 is also the part during those days. Mercedes Benz W126 not only was it a top choice among oligarchs, world leaders, and celebrities alike, the W126 was the ultimate summation of Mercedes-Benz quest to make the best car in the world through innovation, technology, safety, and mechanical excellence, setting the yardstick for every other car manufacturer to follow.

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