Sebi bans Ketan Parekh, 2 others from securities markets over involvement in front-running scheme
6 days, 13 hours ago

Sebi bans Ketan Parekh, 2 others from securities markets over involvement in front-running scheme

Live Mint  

Markets regulator Sebi on Thursday barred three individuals, including Ketan Parekh, from the securities markets with immediate effect for their alleged involvement in a front-running scheme which generated illegal gains of ₹65.77 crore. The regulator also restrained Ketan Parekh, Rohit Salgaocar and Ashok Kumar Poddar from associating with any intermediary registered with Sebi, either directly or indirectly, with immediate effect. In a 188-page interim order, Sebi said "Rohit Salgaocar and Ketan Parekh devised the entire scheme to unjustly enrich from the NPI pertaining to the big client by orchestrating front-running activities". "While the traders of the big client were discussing trades with Rohit Salgaocar for ensuring counter parties for their trading, Salgaocar was using that information to make illegal profits by routing information to Ketan Parekh," Sebi's whole time member Kamlesh C Varshney said in the order.

Markets Information Trades Securities Sebi Parekh Varshney Ketan Ketan Parekh Salgaocar Rohit Salgaocar Securities Markets  involvement  salgaocar  regulator  scheme  sebi  parekh  ketan  securities  frontrunning  rohit  markets  trades  information  bans

History of this topic

SEBI bans Ketan Parekh again for new front-running scam allegations
5 days, 19 hours ago

SEBI bans Ketan Parekh again for new front-running scam allegations

Hindustan Times  

Market regulator Securities and Exchange Board of India has banned former stock broker Ketan Parekh from buying and selling securities again. SEBI had investigated the trades undertaken by individuals and brokers associated with Parekh over a two-year period which ended on June 2023 Parekh was behind one of the worst financial scandals in India's history at the turn of the …

Sebi cracks down on Ketan Parekh in new front-running case
Trending News
6 days, 13 hours ago

Sebi cracks down on Ketan Parekh in new front-running case

Live Mint  

Mumbai: India’s market regulator said it has uncovered an alleged front-running scheme involving Ketan Parekh, convicted in 2008 for stock market manipulation, and Rohit Salgaocar, whose company facilitated these “illicit” trades that led to unlawful gains of ₹65.77 crore. Role of key accused “The evidence gathered, including digital footprints, WhatsApp chats, phone calls, and Bloomberg messages, suggests that Ketan Parekh …

Meet Ketan Parekh, The Harshad Mehta Protege Involved In Rs 40,000 Crore Scam
1 year, 3 months ago

Meet Ketan Parekh, The Harshad Mehta Protege Involved In Rs 40,000 Crore Scam

News 18  

Harshad Mehta is infamous for orchestrating the largest stock market scandal. Following his scam, another significant financial wrongdoing occurred in 2001, led by Ketan Parekh, who had previously been associated with Harshad Mehta as his protege. Following the Harshad Mehta scandal, the Ketan Parekh scam emerged as the second significant event that rattled the Bombay Stock Exchange. Ketan Parekh, who …

Explained | How is the stock market regulated in India?
1 year, 10 months ago

Explained | How is the stock market regulated in India?

The Hindu  

The story so far: On February 10, the Supreme Court asked the Securities and Exchange Board of India and the government to produce the existing regulatory framework in place to protect investors from share market volatility. The SCRA empowers SEBI to recognise stock exchanges, prescribe rules and bye laws for their functioning, and regulate trading, clearing and settlement on stock …

Sebi Bans 6 Persons from Securities Markets in IIFL Group Front Running Case
2 years, 7 months ago

Sebi Bans 6 Persons from Securities Markets in IIFL Group Front Running Case

News 18  

Markets regulator Sebi on Friday barred six persons from the securities market for up to five years for front running the trades of India Infoline Group. In its order, Sebi has barred Santosh Brijraj Singh, who was a dealer of IIFL Group entity and Adil Gulam Suthar from the market for five years, while it prohibited mule account holders — …

Karvy Stock Broking indulged in activities which were never allowed: SEBI chief Ajay Tyagi
5 years, 1 month ago

Karvy Stock Broking indulged in activities which were never allowed: SEBI chief Ajay Tyagi

Firstpost  

Mumbai: In the aftermath of Karvy Stock Broking episode, capital market watchdog SEBI on Wednesday said the brokerage was indulging in activities which were “never allowed”. Last Friday, SEBI barred Karvy from taking new clients with respect to stock broking activities for alleged misuse of clients’ securities. The action followed leading bourse NSE forwarding a preliminary report to SEBI on …

Fraudulent trade: Sebi imposes Rs 10 lakh fine on four individuals
5 years, 6 months ago

Fraudulent trade: Sebi imposes Rs 10 lakh fine on four individuals

India TV News  

Markets regulator Sebi Monday imposed a total fine of Rs 10 lakh on four individuals for manipulating the share price of Shree Shaleen Textiles Ltd. Anjana Arun Karwa, Jayeshkumar Narottamdas Gandhi, Bharati Jayesh Gandhi, Deval Jayesh Gandhi are the four facing the penalty, as per Sebi's separate orders. The regulator had conducted probe from March 2012 to March 2013 relating …

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