Ketan parekh was not available for comments and did not respond to repeated text messages ipo scam kp and his coterie of operators allegedly manipulated the initial share issue of many companies. Mumbai: former stockbroker ketan parekh, a key figure in the 2001 securities scam involving madhavpura mercantile cooperative bank, was arrested and remanded in judicial custody by a sebi special. Ketan parekh is a mumbai based share and stock broker he is from a well to do share-brokerage based family he was involved in the shares scam of the year 2000/01. The journalists debashish basu and sucheta dalal wrote a book, the scam: from harshad mehta to ketan parekhthey revised it with the title 'also includes jpc fiasco and global trust bank scam. A critical examination of the ketan parekh fraud as a bank fraud within framework of the banking system in india analysis of the role of the rbi as the country¶s central.
• the first arrest in the scam was of the noted bull ketan parekh (kp), on march 30, 2001, by the central bureau of investigation (cbi) • kp's arrest was followed by yet another panic run on the bourses and the sensex fell by 147 points • by this time, the scam had become the 'talk of the nation,' with intensive media coverage and. Sebi initiated action against ketan parekh and ultimately after investigations and enforcement proceedings, debarred ketan parekh from accessing the securities markets till 2017 understanding the severity of the scam, sebi introduced measures which were to change the face of the indian securities markets forever. Fake documents were similarly at the heart of the ketan parekh scam of 2001 parekh, a stock market operator who made crores by ramping up prices in his favoured stocks (called k-10, and which.
The ketan parekh scam ketan parekh [kp] was a successful broker, he did not have the. The man who triggered the cash ketan parekh [kp] was a chartered accountant by profession and used to manage a family business, nh securities started by his father known for maintaining a low profile, kp's only dubious claim to fame was in 1992, when he was accused in the stock exchange scam. Ketan has 7 jobs listed on their profile see the complete profile on linkedin and discover ketan's connections and jobs at similar companies view ketan parekh (kp)'s profile on linkedin, the.
The ketan parekh scam the ketan parekh scam was the second most important scam that rocked the bombay stock exchange after the harshad mehta scam to make matters worse, ketan parekh was himself a protégé of harshad mehta and had learned stock trading from the pied piper of bombay stock exchange himself. Kp scam: bigger than 1992 just a few weeks ago, ketan parekh was threatening to sue the bank of india for defamation, because it complained about the bouncing of rs 13-billion pay orders issued to the broker by the madhavpura mercantile cooperative bank. A special court has sent former stock broker ketan parekh, a key figure in the 2001 securities scam involving the madhavpura mercantile co-operative bank, to judicial custody for not appearing in a case filed by the securities and exchange board of india sebi is prosecuting parekh for various. A special sebi court on tuesday convicted ketan parekh and his relative in a securities scam for violating the sebi act and sentenced them to three years in jail. Nirav modi joins a list of smart young gujarati men—including harshad mehta, hiten dalal, jatin mehta and ketan parekh—who have in the last few years easily taken thousands of crores each from taxpayers.
Ketan parekh was threatening to sue the bank of india for defamation, because it complained about the bouncing of rs 13-billion pay orders issued to the broker by the madhavpura mercantile cooperative bank. Ketan parekh is a name which rings a bell in our minds as the man behind one of the biggest scams of indian stock exchange in 2000-2001 through this article, i have explained the modus operandi of the ketan parekh scam in a simple language without any technical jargon so that even a layman can understand. There has obviously been little learning since the days of ketan parekh and the madhavpura mercantile cooperative bank scam in the days of the stock market boom of 2001, ketan parekh rode the. Ketan parekh is a former stock broker from mumbai , india , who was convicted in 2008, for involvement in the indian stock market manipulation scam in late 1999-2001.
Parekh was arrested in march that year and was in custody for 53 days in the aftermath of the scam, many gaping loopholes in the market were plugged the trading cycle was now reduced from one week to one day. Ketan parekh and the rest of them slowly dump the stock on other greedy investors and rake in the profits nh securities, in fact, is among the top 10 institutional brokers in india. Ketan parekh followed harshad mehta's footsteps to swindle crores of rupees from banks a chartered accountant he used to run a family business, nh securitiesketan however had bigger plans in mind he targetted smaller exchanges like the allahabad stock exchange and the calcutta stock exchange, and bought shares in fictitious names.
Ketan parekh is a former stock broker from mumbai, india, who was convicted in 2008, for involvement in the indian stock market manipulation scam in late 1999-2001 currently he has been debarred from trading in the indian stock exchanges till 2017. Scam on light even before the parekh scandal broke out, the stock markets had been witnessing turbulent times across the country the calcutta stock exchange (cse) was the first to make news after abhishek banka committed suicide on march 19 after reportedly losing money in the market. Dr ketan parekh, dds is an oral & maxillofacial surgery specialist in rockwall, tx he practices oral & maxillofacial surgery.
Ketan parekh's wiki: ketan parekh is a former stock broker from mumbai , india , who was convicted in 2. A special court on tuesday found former stock broker ketan parekh and his relative kartik parekh guilty of not paying a penalty imposed by the securities and exchange board of india (sebi) and. Find helpful customer reviews and review ratings for the scam: from harshad mehta to ketan parekh also includes jpc fiasco & global trust bank scam at amazoncom read honest and unbiased product reviews from our users.