Missing lingerie bizman Harshad Thakkar pumped own money to manage loss

Harshad Thakkar who has been missing for more than three weeks had pooled his own money to save the prices of the shares after the share market crashed late last month.

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Harshad Thakar’s shop at Dadar

According to the employees and top authorities of Ashapura Intimates Pvt Ltd, chairman and managing director of the firm Harshad Thakkar who has been missing for more than three weeks had pooled his own money to save the prices of the shares after the share market crashed late last month. For the same, Thakkar had mortgaged his house and other properties to save the share prices from being completely devastated.

Speaking on the issue an employee requesting anonymity said, "When the market crashed during the last week of September, the consequences were not conducive for the firm as the prices of all the shares fell down drastically.

The stocks which were being traded at Rs 400 per share fell down to below Rs 300 and was further falling. To bring back the share prices, he pumped his own money and this also could not yield good results for the firm but instead other rivals and players in the market tricked him down. This caused him to face more personal loss. He tried to bring the damage under control by himself and even the board of directors were not aware of it."

The fall in prices also had an adverse effect on the interest of the investors which hold a considerable amount of stakes of the company.

As per police investigation, Thakkar on October 02 had came to his Dadar office for a meeting with some selective employees despite being a public holiday where he looked cheerful and took a small inspection of the current status of company activities. From the office, he left four different notes addressing different people including his family, employees and close friend and later he left from office premises leaving both the phones switched off.

"Thakkar first reached office in a vehicle along with his friend. After the meeting, Thakkar might have left alone as the CCTV of the premises were not functional. We do not suspect any foul play behind the disappearance but the Marine Drive police station has recovered an unknown and unclaimed body early this month. DNA samples of Thakkars family and the body have been sent for examination and we are awaiting the report anytime soon." said a police officer.

An official of the Forensic Science Laboratory have said since the body was thought in a partiality decomposed state, the examination is taking some time but the reports shall be sent to concerned authorities in a day or two.

Letters He Left 

In the letters written in Gujarati, Thakkar mentioned that, "I have received many calls from lot of people, and I have learnt because of increased distrust in the market, people around me started loosing their trust on me. I have devoted my whole life to my share holders and my company. I have given my own house, my savings to save this company but even after that because of few people of share market have tricked our company. Now there is nothing left with me accept myself. I kept my house mortgage and tried to save our company. I have given everything that I have already to the company. I have lost everything, I feel I am looser. This company is my life and I have lost everything. I am sorry for this events and I take full responsibility for the same. All my small assets and my share also my policy to be given to my company. This is my last wish.

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