KETAN PAREKH, the infamous stockbroker and key associate of scamster big-bull Hashad Mehta of the 2000-01 stock market scandal, for which he was imprisoned for years, is back to do what he is best at—manipulating the stock market.
Even as he was under the Sebi ban for 14 years from entering the market since 2003, KP, as he is known for, has been gaming the system—this time through front-running the stocks that Tiger Global holds in domestic companies, and mostly in PB Fintech.
How Sebi nailed him Tracking the 10 fake phone numbers, including that of his wife Mamta's that he shared with the front office of Sebi during his recent visits.
The latest scam came to light on January 2 when Sebi in a 188-page interim order by whole-time member Kamlesh Varshney, banned KP and 22 others including Singapore-based trader Rohit Salgaocar from market and ordered impounding of ₹66 crore they illicitly gained from the scam. KP didn't do any trade this time too but got his Kolkata-based associates to do the job for him. KP used to instruct the front-runners using different mobile phones registered under different names and was known as 'Jack', 'John', 'Boss', 'Bhai' among other names.
This story is from the January 05, 2025 edition of The New Indian Express Madurai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 05, 2025 edition of The New Indian Express Madurai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How To Be A Travel Junkie!
This two-day travel festival in Mumbai this week brings together destinations, cultural experiences, food and more to inspire Indian globetrotters...
SA20: Skipper Markram aims a threepeat with Sunrisers Eastern Cape
FRESH from playing a key role in helping South Africa qualify for the third edition of the World Test Championship, Aiden Markram has set his sights on a threepeat with Sunrisers Eastern Cape in the SA20.
BFI Adopts New Weight Classes
The Boxing Federation of India (BFI) is conducting the men's national championships here in 10 weight categories, in line with the classification introduced by the breakaway World Boxing.
Janssen-sational: TN Dragons pip Team Gonasika
JIP JANSSEN slammed a hat-trick to steer Tamil Nadu Dragons to a tight 6-5 win over Team Gonasika in a high-scoring Hockey India League (HIL) clash here on Wednesday.
AFI's big push: De-centralisation of camps
New-look athletics body's one-of-a-kind policy set to encourage inclusivity & have wider pool of players to pick from
Malaysia Open: Prannoy, Sat-Chi Enter Round of 16
HS Prannoy's match, his first since the Paris Olympics, was halted by rain on Tuesday.
Selective application undermines credibility of sports governance
PT Usha and sports ministry are at loggerheads over the Indian Golf Union recognition.
Newcastle FC put one foot in League Cup final
NEWCASTLE took a giant stride towards the League Cup final as goals from Alexander Isak and Anthony Gordon earned a 2-0 semifinal, first leg lead at Arsenal on Tuesday.
Sebi finds broker with 1,103 fake client codes
MARKET regulator Sebi has found that a little known stock broker, Stockholding Services, which is the broking arm of Stock Holding Corporation of India, made thousands of fake client codes in violation of the mandatory KYC norms.
SBI Lowers FY25 Economic Growth to 6.3%
The State Bank of India has revised its forecast for India's GDP growth for financial year 2024-25 (FY25) to 6.3%, down from the National Statistical Office's (NSO) projection of 6.4%.
