Ketan Parekh
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.[1][2]
Parekh is alleged to have been involved in circular trading throughout the time period and with a variety of companies, including Global Trust Bank and Madhavpura Mercantile Co-operative Bank.[3]
Parekh's sole conviction, which carried a one year sentence, came as a result of a transaction he conducted involving a unit of Canara Bank in 1992.[1]
Though Parekh is currently barred from stock trading, in 2009, the Securities and Exchange Board of India alleged a variety of companies and other actors were trading on behalf of Parekh; 26 entities were banned from trading as a result of that investigation.[2]
[edit] References
- ^ a b "India court gives Ketan Parekh 1yr prison in 1992 scam". Reuters. 1 April 2008. http://in.reuters.com/article/asiaCompanyAndMarkets/idINBOM3686020080401. Retrieved 7 May 2010.
- ^ a b "SEBI finds Ketan Parekh funds in markets, seeks ED probe". The Hindu. 4 June 2009. http://www.hindu.com/thehindu/holnus/006200906042112.htm. Retrieved 7 May 2010.
- ^ "Sebi settles HFCL share price rigging case with consent order". livemint.com. 8 February 2010. http://www.livemint.com/2010/02/08222457/Sebi-settles-HFCL-share-price.html. Retrieved 27 May 2011.
