The Securities and Exchange Board of India (Sebi) on Thursday debarred Ketan Parekh, the stock market operator involved in the stock market scam of 2000, Singapore-based trader Rohit Salgaocar, and one other individual from the securities market for alleged front-running of trades of a United States (US)-based foreign portfolio investor (FPI). The FPI manages around $2.5 trillion worth of funds globally.
Leading Mumbai stockbroker and allegedly the chief conspirator in the Rs 120 crore (Rs 1.20 million) scam at Calcutta Stock Exchange in March 2001, Ketan Parekh, was on Saturday granted bail by the Chief Metropolitan Magistrate.
The chief metropolitan magistrate, S C Mishra, rejected on Thursday the bail petition of tainted stock broker Ketan Parekh and extended his judicial custody for another 14 days.\n\n\n\n
Ketan Parekh was denied bail by a court in Kolkata on Monday, and remanded to police custody till January 28 in connection with the Rs 120-crore (Rs 1.20 billion) scam at the Calcutta Stock Exchange.
Tainted stock broker Ketan Parekh and 8 of his associates received a blow, when the Supreme Court dismissed their appeals against a Sebi order banning them from trading for 14 years.
A Kolkata court on Thursday rejected the bail application of leading stock broker Ketan Parekh and extended his judicial custody till April 19.\n\n\n\n
Stock broker Ketan Parekh, arrested in connection with Rs 120 crore (Rs 1.2 billion) scam at Calcutta Stock Exchange, has filed a special leave petition with Supreme Court for bail, his lawyers said on Thursday.\n\n
With the Company Law Board rejection both the applications filed by Ketan Parekh group of companies on the stock market scam of 2001.
The CBI has filed chargesheets against 12 accused, including sharebroker Ketan Parekh, for allegedly defrauding the Madhavpura Mercantile Co-operative Bank of Rs 1,030 crore.
Gujarat Congress leader Arjun Modhvadia has alleged that former minister of state for home Amit Shah had allegedly received a bribe of Rs 2.5 crore from stock market scamster Ketan Parekh to help him in a bank fraud case.
Declining to grant any interim bail to stockbroker Ketan Parekh in the Rs 120 crore (Rs 1.20 billion) Calcutta Stock Exchange payment scam, the Supreme Court on Monday adjourned hearing on his bail plea till April 14.
The government has received reports that tainted stock broker Ketan Parekh, barred from the capital markets till 2017 over a securities scam, is still active and has taken positions in oil PSUs like ONGC and HPCL.
The CBI filed the charge sheets against Parekh, Darmesh Doshi, Jatin S, Kirti Parekh, Kartik Parekh (all directors of companies held by Ketan) and chairman of Singapore-based Brentfield Holdings T L Chandran.
The Securities and Exchange Board of India (Sebi) on Monday barred trader Ketan V Parekh and his associates, who were instrumental in the stock scam of 1999-2001, from accessing the stock market for another ten years . Sebi, in an order issued on Monday, said it was banning Ketan Parekh and associates for a total of 14 years, effective from December 12, 2003.
A Kolkata court on Tuesday extended for four days the police remand of former big bull Ketan Parekh in connection with the Rs 120 crore (Rs 1.20 billion) Calcutta Stock Exchange scam, even as it granted bail to another accused.
The tax department has slapped a whopping demand of Rs 1,385 crore on Big Bull Ketan Parekh and his group entities.
The Securities and Exchange Board of India has debarred stock brokers Ketan Parekh and Kartik K Parekh and seven of their entities from trading in the market for 14 years after finding their involvement in the 2001 stock market scam.
CBI officials, however, said no such evidence had so far been found. CBI, on receiving a tipoff from its sources, found that a private financial services company, its chairman and managing director, and other associates were allegedly bribing senior officials of public sector banks and financial institutions for facilitating largescale corporate loans.
Ketan Parekh, an accused in several cases of stock market manipulation, has been convicted by a special CBI court in Mumbai for cheating and sentenced to two years rigorous imprisonment.
Stock broker Ketan Parekh, alleged mastermind of the securities scam of the 1990s, has moved the Supreme Court seeking permission to travel abroad for the treatment of his daughter.
Mumbai stock broker Ketan Parekh, in custody for about four weeks now, is planning to move the Supreme Court next week for bail after his prayer was rejected by the Calcutta high court.
Regulator finds broker trading through conduits; 26 entities barred from market.
Parekh was held guilty in the case related to the 1992 stock scam, in which Canbank Financial Services was duped of over Rs 47 crore (Rs 470 million). On April 1, a special court in Mumbai had sentenced Parekh, Hiten Dalal and four others to one year in jail for siphoning off funds from Canbank Financial Services Ltd, a unit of Canara Bank.
The Supreme Court on Monday issued notices to stockbroker Ketan Parekh, Central Bureau of Investigation and the Gujarat government on a petition filed by Madhavpura Mercantile Co-operative Bank.
Stock broker Ketan Parekh sentenced to one year jail term in the 1992 Canfina scam. Earlier, on November 12, 2007, the Securities and Exchange Board of India had barred Ketan Parekh and his associates, who were instrumental in the stock scam of 1999-2001, from accessing the stock market for another ten years.
One of the biggest defaulters of Ahmedabad-based Madhavpura Mercantile Co-operative Bank, stock broker Ketan Vinaychandra Parekh has settled his dues with the bank by paying Rs 26 crore a fortnight ago, revealed informed sources. The so called 'big-bull' of the stock market has paid a whopping Rs 396 crore in less than two years to MMCB.
Nanda says of Manmohan Desai: 'I wanted a husband who doesn't bow down before anyone else.' 'He has worked with Amitabh Bachchan in so many films but it's always on a one-to-one basis. I admire that.'
'Only four or five original companies remain; the rest have been replaced every decade as sectors evolve or leadership shifts.' 'Companies that fail to adapt -- like many textile mills from the 1970s and shipping firms from the 1980s -- disappear.' 'Benchmark indices reward those who reinvent themselves in line with economic demands.'
Front-running is a fraudulent practice where traders exploit advance knowledge of large client orders for personal profit.
India's forex reserves dropped by $4.11 billion to $640.28 billion during the week ended December 27, the Reserve Bank said on Friday. In the previous reporting week, the overall kitty had dropped by $8.48 billion to $644.39 billion.
Of the total tax arrears, the two scam-tainted brokers -- Ketan Parekh and late Harshad Mehta -- accounted for Rs 30,000 crore (Rs 300 billion).
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