Ketan Parekh was convicted in 2008, for involvement in the Indian stock market manipulation scam. He artificially rigged prices of certain chosen securities using large sums of money borrowed from banks. As a result, he was banned from trading in Indian stock exchanges till 2017.
About Ketan Parekh in brief
Ketan Parekh is a former stocks broker from Mumbai. He was convicted in 2008, for involvement in the Indian stock market manipulation scam that occurred from late 1998 to 2001. He artificially rigged prices of certain chosen securities using large sums of money borrowed from banks including the Madhavpura Mercantile Co-operative Bank, of which he himself was a director. As a result, he was banned from trading in Indian stock exchanges till 2017. He is also a member of the Joint Parliamentary Committee on Parliamentary Reforms and the Parliamentary Standing Committee on Finance and the Expenditure of Public Sector Undertakings (PSU).
He is the former chairman of KVP Ventures, a Mumbai-based investment bank. He has also been a director of two other entities – GTMC and HFCL – over the past two years, over two years. He also served as the chairman of the JPC for a period of time in the early 1990s. He served as an MP for Mumbai in the 1980s and 1990s, and is currently a JPC member for the parliamentary committee on Parliamentary Renewal and Public Expenditure.
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This page is based on the article Ketan Parekh published in Wikipedia (as of Dec. 17, 2020) and was automatically summarized using artificial intelligence.
