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Topic: Ketan parekh

	rediff.com: CBI arrests stockbroker Ketan Parekh
		Parekh was brought to the CBI's bank securities and fraud cell at the bureau's White House office in South Bombay on Friday morning and interrogated extensively throughout the day, before being arrested.
		On Thursday the Bombay high court declined to entertain the plea of stockbroker Ketan Parekh that he may be produced before a competent court in Bombay in the event of his arrest in a case filed by Madhavpura Mercantile Co-operative Bank in Ahmedabad.
		Ketan is fearing arrest in a fresh case filed by MMCB in Ahmedabad particularly in the wake of CBI allegations that he had allegedly siphoned off huge amounts from the bank to a Swiss Bank account.
	www.rediff.com /money/2001/aug/10ketan.htm (348 words)

	rediff.com: CBI arrests stock broker Ketan Parekh
		The Central Bureau of Investigation confirmed that Ketan Parekh was arrested at 4 p.m.
		The case was registered after Bank of India filed a complaint with the bank security and fraud cell of the agency that Ketan Parekh had defrauded the bank.
		The talk of the involvement of big bull Ketan Parekh in the Madhavpura Co-operative Bank pay-order scam and his arrest by the CBI took heavy casualties on the bourses again on Friday as domestic operators and speculators resorted to all-round heavy selling, particularly in the K-10 counters.
	www.rediff.com /money/2001/mar/30ketan.htm (1130 words)

	Personality - Industrial Economist - Archives (Site not responding. Last check: 2007-10-12)
		Parekh narrated that within hours of his announcing plans to set up the first call centre at Mumbai, he received a direct call from (who else?) Andhra Pradesh chief minister N Chandrababu Naidu, inviting him to open such a call centre in Hyderabad promising all facilities.
		Parekh referred to the IRDA stipulating that members of the board of such corporate agency companies should be qualified with 100 hours of training and education with a mandatory pass: “I am willing to go back to the classroom and take an exam.
		Particularly, in the context of Parekh's optimism that an 80 per cent growth in the number of insu-rance policies from the present 10 crore to a projected 18 crore in ten years is too modest, this did appear a disappointment.
	www.indeconomist.com /person1504.html (1498 words)

	CNN.com - Mumbai broker Parekh stays in custody - April 27, 2001
		Parekh, who was arrested by the Central Bureau of Investigation on March 30 and is accused of bank fraud, appeared in a Mumbai court Thursday.
		Parikh, who is not related to Ketan Parekh, is wanted for questioning in connection with the pay orders issued by his bank to Parekh.
		Parekh, one of the best known stockbrokers in India, was arrested after a complaint was lodged by state-owned Bank of India.
	edition.cnn.com /2001/BUSINESS/asia/04/26/india.parekh.biz (492 words)

	SEBI report traces fund transfers to CSE brokers -- Ketan Parekh group firms implicated
		KETAN Parekh group firms transferred nearly Rs 1,000 crore to Calcutta brokers between October 2000 and early March 2001 to pay up for the losses or marked-to-market margins, according to the preliminary report of the Securities & Exchange Board of India (SEBI).
		SEBI further states that though the funds were transferred to Ketan Parekh entities, deliveries of these shares have not been taken and "there are other aspects of these transactions which indicate that these may not be genuine transactions for purchase of shares and in actuality merely the funds have been given to Ketan Parekh."
		The dues of the 11 Ketan Parekh entities with Madhavpura Mercantile Cooperative Bank as on March 21, 2001 were Rs 798.44 crore against the sanctioned limit of Rs 205 crore, the report says.
	www.thehindubusinessline.com /2001/05/19/stories/14196201.htm (578 words)

	Stock markets crash after Ketan Parekh arrested (Site not responding. Last check: 2007-10-12)
		Parekh was held on charges of draining out Rs 1,370 million from Bank of India (BOI) through pay orders issued by Madhavpura Mercantile Co-operative Bank in Ahmedabad, Gujarat.
		Parekh was taken into custody by the CBI's Bank Security and Fraud cell and is to be produced in court today morning.
		Parekh's name was linked to this case as well but he was a relatively minor player then.
	www.indiantelevision.com /headlines/y2k1/mar/mar43.htm (408 words)

	Ketan Parekh surrenders in Kolkata court- The Times of India (Site not responding. Last check: 2007-10-12)
		Kolkata Police had been trailing Parekh for the last two months and in the recent past made an abortive bid to arrest him at Mumbai in connection with the scam that crippled the stock exchange.
		The public prosecutor argued that Parekhâs interrogation in police custody was important for the probe into the March 2001 scam at the Calcutta Stock Exchange.
		Parekh was later taken by special cell sleuths to the Lalbazar police headquarters.
	timesofindia.indiatimes.com /cms.dll/html/comp/articleshow?artid=35004941 (335 words)

	DNA - Mumbai - Catching bull by horns: Parekh told to cough up another Rs 200 cr - Daily News & Analysis
		Parekh managed to stay out of jail (on bail granted by the Supreme Court) by committing to pay monthly instalments of Rs 15 crore to Madhavpura Mercantile Co-operative Bank to which he reportedly owes Rs 1,400 crore.
		Parekh was first arrested after investigations revealed a scam, which led to the Sensex crashing 176 points on March 1, 2001.
		While Parekh has filed an appeal before the debt recovery appellate tribunal (DRAT), which is yet to admit the same, BOI is moving to get eight identified properties belonging to Parekh and his relatives and partners auctioned.
	www.dnaindia.com /report.asp?NewsID=4066 (483 words)

	The Ketan Parekh Saga (Site not responding. Last check: 2007-10-12)
		While Ketan Parekh or KP as he is called comes from a family where his father and grandfather were also traders in the stock market, Harshad Mehta had much humble origins.
		Now Ketan Parekh's life is in darkness as he is in the hands of the Central Bureau of Investigation.
		In the case of Ketan Parekh, the arrest was quite expected and his stocks and the Sensex has seen a steady downfall for quite some time.
	www.indiainfoline.com /nevi/totb.html (632 words)

	CNN.com - Court frees broker Parekh on bail - May 22, 2001
		The court directed Parekh and his co-accused to furnish personal bonds of half a million rupees each ($11,000) and a surety of the same amount.
		Parekh was arrested after a complaint was lodged by state-owned Bank of India.
		Parekh is accused of defrauding the Bank of India of about $30 million, allegedly in connivance with MMC Bank officers.
	edition.cnn.com /2001/BUSINESS/asia/05/22/india.parekhbail.biz (612 words)

	[No title] (Site not responding. Last check: 2007-10-12)
		Ketan Parekh and related entities from dealing in Indian securities market directly or indirectly and various other punitive actions initiated by other enforcement agencies in India, a new entity was incorporated in September, 2003 by the name of Jermyn Capital LLC for dealing in the Indian Securities Market.
		Since the ban of Ketan Parekh was imposed after the incorporation of Jermyn LLC in September 2003 it is not correct to allege that Jermyn LLC was incorporated to circumvent the ban imposed by SEBI on Ketan Parekh and his so called related entities.
		Ketan V. Parekh, is presently the Executive Director of Jermyn Plc (formerly Triumph Securities UK Plc) in charge of very vital functions which tantamount to virtual control of operations.
	www.sebi.gov.in /cmorder/jerymn.html (5625 words)

	The Tribune, Chandigarh, India - Main News
		Ramesh Parekh was described to be “absconding” by the agency for the past two weeks subsequent to the surfacing of the pay order scam in March.
		Ketan Parekh is understood to have told the CBI interrogators that the pay order transactions with the Madhavpura bank had been going on for the past seven months.
		Ketan Parekh was arrested by the Bank Securities and Fraud Cell of the CBI on Friday following a complaint by the Bank of India that the pay orders in his name had been dishonoured.
	www.tribuneindia.com /2001/20010406/main3.htm (645 words)

	The Tribune, Chandigarh, India - Main News
		Leading stock broker Ketan Parekh and Jagdish Pandya, branch manager of Madhavpura Cooperative Bank, arrested in connection with the pay order scam, were today remanded in judicial custody till April 9 by a designated court here.
		Top stockbroker Ketan Parekh (centre) is led out of the sessions court by CBI men on Saturday.
		In separate statements, the CPI and the CPM charged the government and, in particular, Finance Minister Yashwant Sinha with economic “mismanagement” saying, the “Ketan Parekh scandal is yet another blot on the Vajpayee government’s disgraceful record.
	www.tribuneindia.com /2001/20010401/main6.htm (678 words)

	CBI grills Ketan Parekh
		MUMBAI: Leading stock broker Ketan Parekh, arrested by CBI here on Friday for allegedly defrauding Bank of India of Rs 137 crore in a pay order scam, was interrogated by the investigating agency the whole night, CBI sources said on Saturday.
		Parekh was questioned by CBI sleuths till 3 am at the White House, headquarters of CBI's bank fraud and securities cell, at Malabar Hill in south Mumbai.
		Parekh, arrested from his office on a complaint filed by BoI, has been charged with offences under IPC, including conspiracy, criminal breach of trust and cheating.
	www.punjabilok.com /business/cbi_grills.htm (153 words)

	Netguruindia News (Site not responding. Last check: 2007-10-12)
		May 21: Leading stock broker Ketan Parekh and Madhavpura Mercantile Cooperative Bank's manager JB Pandya, embroiled in the Rs 1.37 billion pay-order scam were released on bail by a special court.
		Parekh has also been directed to report to CBI's Mumbai office twice a week till the chargesheets are filed or further orders are passed.
		Ramesh Parekh, co-accused and chairman of Madhavpura bank, was released on bail on 12 April on health grounds.
	www.netguruindia.com /news/May01/22/MUM4.html (215 words)

	Date (Site not responding. Last check: 2007-10-12)
		Soon after Ketan Parekh’s arrest from one of his offices CBI sleuths questioned the big bull at the bureau’s headquarters in Mumbai.
		Ketan Parekh and his group companies used to produce pay orders issued by the Mandvi branch of the co-operative bank and some other banks and favouring the group accounts and get them purchased by BoI which used to be hounoured by the co-operative bank.
		However, the pay orders issued by Madhavpura totalling Rs 137 crore favouring Ketan’s group concerns, which were purchased by Bank of India stock exchange branch were returned unpaid by RBI when they were presented for clearing because the co-operative bank did not participate in the clearing on March 9.
	www.indiabulls.com /newsupdate/mainmain143.asp (442 words)

	HardNews - Breaches of trust
		Many believe that the GTB was the node around which the disgraced Bombay stockbroker, Ketan Parekh, built his machinery of share manipulation.
		Ketan Parekh favourites such as Zee Telefilms and HFCL enjoyed his munificence, too.
		Vajpayee's explanation came only after the GTB had gone into meltdown, and there was a misplaced belief that Parekh's tainted companies were not allowed to offload their shares.
	www.hardnewsmedia.com /sep2004/cstory1.php (1393 words)

	After the horses bolted
		The report has confirmed that Parekh, who led the bull cartel, was instrumental in pushing up share prices to spectacular levels, paving the way for their eventual, and equally spectacular, collapse.
		Parekh's arrest seems to have had something of a ripple effect in the markets.
		Central Bureau of Investigation (CBI) officials have opposed Ketan Parekh's bail applications, arguing that the full extent of the conspiracy behind the fraud has yet to be discovered.
	www.flonnet.com /fl1809/18091160.htm (1841 words)

	Ketan Parekh pumping funds into ABCL -- KBC giving new life?
		STOCK broker Mr Ketan Parekh, reputed as a big time private investor at the bourses, is infusing funds into the erstwhile Amitabh Bachchan Corporation Ltd (ABCL), now called AB Corp.
		Though KVP Ventures, the $250-million venture capital fund floated by Mr Parekh, Mr Vinay Maloo, Chairman, Himachal Futuristic Communications Ltd (HFCL), and the Australian media tycoon Mr Kerry Packer, is not involved, Mr.
		Parekh is accompanied by a few others in the AB Corp investment.
	www.thehindubusinessline.com /2000/09/13/stories/021318s8.htm (391 words)

	outlookindia.com \| wired
		Ketan Parekh (KP), his cousin Kartik K Parekh and seven KP entities have been barred for 14 years by the Securities and Exchange Board of India (SEBI) from accessing capital market and dealing in securities with immediate effect for their involvement in the 2001 stock market scam.
		Ketan is also facing a CBI probe in the over Rs 130 crore pay order scam of defrauding Ahmedabad-based Madhavpura Co-operative Bank.
		Ketan Parekh entities had caused artificial price rise in Lupin Lab scrip, where trade orders were placed at prices higher than the last traded price coupled with large transactions causing price rise, SEBI said in its order.
	www.outlookindia.com /pti_news.asp?id=188973 (361 words)

	Indian Stocks-Open House
		Ketan Parekh says he was incurring losses since last 5-6 months.
		Ketan Parekh says that the Bank of India was the only nationalised bank with which he held an account, and that the rest were private banks or multinationals.
		If Ketan Parekh was genuinely concerned, he should have returned the amount to Bank of India when Madhavpura refused to honour the pay-orders.
	www.network54.com /Forum/70985/viewall-page-21 (4351 words)

	Capital Market, Indian Capital Market, Capital Markets, Indian Capital Markets, Stock Market, Indian Stock Market
		It was in the late nineties that Parekh began to take huge positions in the New Economy shares, which earned him a nickname of `one-man army’ for his ability to move the market.
		However, on 1 June, Parekh filed a writ petition against the CBI in the Bombay High Court contending that the FIR filed by the CBI was baseless and the investigating agency had suppressed material facts to make a criminal case against him.
		Parekh was taken to Kolkata to be produced before the courts.
	www.capitalmarket.com /capitalmarket/MarketCrash/2001/personae.asp (3065 words)

	August 11, 2001 - August 13, 2001 :: News Archive :: Gujarat News at GujaratPlus.com
		To this, Parekh's lawyer pointed out that this was the second occasion when the CBI was seeking his custody and had questioned the move.
		The bail application was dismissed by the court on July 26 and Parekh's period of no-arrest expired on August 9.
		Alleging that Parekh has knowledge of the facts and circumstances of the case and is aware of the funds' existence abroad, the CBI counsel added: "Under these circumstances the custodial interrogation of the accused is essential to unravel the intricacies of the huge fiscal fraud perpetrated by the accused."
	www.gujaratplus.com /00-01archive/arc351.html (2397 words)

	PNNOnline (Site not responding. Last check: 2007-10-12)
		Ketan Parekh, an Indo-American, joins Louise Williams, an American, to form Love Humanity India for the purpose of addressing two issues in India: child abuse and neglect and homeless children.
		Her answer without hesitation was, ‘I would go to India and create homes for children.’ Parekh then encouraged her to do just that by saying that if she went to India and found people wanting to participate, he would help raise money in the United States so the work could begin.
		Taking Parekh at his word, Williams closed up her affairs, went to India, began reviewing research on orphans and found that, according to a study entitled Children on the Brink 2002 by USAID, there were 26 million orphans in India between the ages of birth and 14 years of age.
	www.pnnonline.org /print.php?sid=4741 (503 words)

	Daily Excelsior...Business (Site not responding. Last check: 2007-10-12)
		Stock broker Ketan Parekh, the prime accused in the Rs 137 crore Bank of India (BoI) pay order scam, along with his brother Kartik Parekh and a business associate were today arrested by the Economic Offence Wing (EOW) of the Mumbai Police for allegedly duping an investor of Rs 71 crore.
		Both the Parekh brothers and Jatin Sarvai, Managing Director of Ketan’s firm triumph international finance, were picked up by the eow late last night from their residences and were arrested this morning, police said.
		It big-bull Ketan Parekh is the prime accused in the multi-crore Madhavpura Merchantile Cooperative Bank scam as well as Rs 137-crore Bank of India (BoI) pay order scam.
	www.dailyexcelsior.com /02may16/busi.htm (3873 words)

	The Hindu : Zurich trail in the stock scam
		The CBI probe between September 1999 and April 2000 into the stock broker Ketan Parekh's role in the stock scam, the Madhavpura Mercantile Cooperative Bank collapse, his foreign accounts and connections with overseas corporate bodies have come under the scanner in the report of the Joint Parliamentary Committee on the stock market scam.
		The JPC was informed that Ketan Parekh and some of his relatives were associated with certain Overseas Corporate Bodies (OCBs) which had traded heavily with Mr.
		The committee was informed that Ketan Parekh has since complied with the condition of bail of depositing Rs.
	www.hindu.com /2002/12/21/stories/2002122102781300.htm (487 words)

	The GTB - UTI Bank Merger \| Finance Case Studies Collection
		Students are also expected to study the circumstances surrounding the merger to determine whether Gelli and Ketan Parekh had formed a nexus to rig the price of the GTB scrip to get a favorable valuation.
		Parekh-I do not even remember meeting him other than may be at a social gathering.
		This case study was compiled from published sources, and is intended to be used as a basis for class discussion.
	icmr.icfai.org /casestudies/catalogue/Finance/FINC004.htm (751 words)

	Printer Friendly Version
		Ketan Parekh, Rajendra Bhantia, Vinod Baid, Keshav Bangur, Dinesh Singhania, Ashok Poddar, the Biyanis and many more of their cohorts are all behind bars—each for a different investigation.
		Ketan Parekh, who started out as a young groupie of Harshad Mehta in 1992, had managed to escape the dragnet of the scam investigation, barring a solitary case connected with Canbank Mutual Fund.
		In the months preceding the post-Budget crash of 2001, Ketan Parekh had made a last desperate attempt to prop up prices by diverting a whopping Rs 3,191 crore to Dinesh Singhania, Ashok Poddar and Sanjay Khemani to manipulate prices on the illegal market.
	iecolumnists.expressindia.com /print.php?content_id=18142 (1128 words)

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