Harshad Mehta's Abandoned Cars On Video: Truth vs Hype
The convicted fraudster and Indian stock market broker Harshad Mehta was known for his love of luxury and his flamboyant lifestyle. Mehta famously owned a Lexus LS400, which he bought just before his scam of Rs 30,000 crore was exposed. Now, years later, a few videos have gone viral on the internet claiming that there is a home in Mumbai that belongs to him and that his luxury cars, including his beloved Lexus and his Mercedes-Benz, are rotting in the porch. But what is actually the truth? Read ahead to find out.
The video showing “Harshad Mehta’s home and his luxury cars” has been shared on Instagram by AutoluxuryinIndia on their page. In this short clip, we can note that there is a house on the corner of a road, and it has been completely abandoned. A few windows of this home are missing, and the overall condition of this house has deteriorated.
Soon after this, the video then shows the porch of this house. It can be noted that there is a white-colored Lexus LS400 luxury sedan and a blue-colored Mercedes-Benz S-Class from the early 2000s. Both of these cars have blown-out air suspensions and are covered with dirt and leaves. Also, a few of their emblems are missing.
In addition to this video, another clip shows the same home and cars. However, in this clip, a different angle is shown in which it can be noted that there is another hidden garage. Inside this garage is a red-colored Mercedes-Benz C-Class sedan from the same era as the Lexus LS400 and the Mercedes-Benz S-Class seen before.
One of the posts and many netizens online have claimed that this particular home and the Lexus LS400, along with the two Mercedes-Benz cars, belong to the “Big Bull” Harshad Mehta. However, the truth is that this particular home and all these cars do not belong to the convicted stockbroker and scammer.
Instead, they belong to a real estate developer and his family, who have not been named. Reportedly, the individual and his business suffered setbacks, spiraling into bankruptcy. As a result, things got worse, and the property went under dispute. Currently, this property has not been sold, and as nobody from the family stays in it, the condition has become worse.
Coming back to Harshad Mehta and his Lexus LS400 — what also confirms that this white Lexus does not belong to him is its number plate. This one has a registration number of “MH 01 DA 28.” However, Mehta’s car number was “MH 01 A 6958.” The Lexus LS400 that Harshad Mehta used to own was also finished in a deep red color, which looked almost black.
The Lexus LS400 back in 1991 was one of the most luxurious cars in the world. It used to cost around Rs 20 lakh. However, with import duties of 120 percent, it would cost around Rs 50 lakh, which was paid by Harshad Mehta. Following his purchase, he would openly drive and flaunt his Rs 50 lakh luxury car on Dalal Street, Marine Drive, and other places, which brought him into the limelight.
Soon after, many other stockbrokers and journalists began wondering how he was able to afford this sedan. Among them was one journalist, Sucheta Dalal, who exposed the biggest stock market scam of 1992, worth Rs 30,000 crore, which led to the arrest of Harshad Mehta.