SEBI bans Ketan Parekh again for new front-running scam allegations
5 days, 20 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 century. SEBI had investigated the trades undertaken by individuals and brokers associated with Parekh over a two-year period which ended on June 2023, the order released by the regulator on Thursday, January 2, 2025, said. The investigation showed that Parekh had allegedly obtained non-public information of a major US fund’s trades from Singapore-based Rohit Salgaocar, who had an agreement to refer trades of that fund to Motilal Oswal Financial Services Ltd. and Nuvama Wealth Management Ltd, according to the report. SEBI had initially banned Parekh in 2003 for 14 years due to allegations of insider trading, price rigging and illegal diversion of bank funds into the stock market.

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History of this topic

Sebi bans Ketan Parekh, 2 others from securities markets over involvement in front-running scheme
6 days, 14 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. …

Sebi cracks down on Ketan Parekh in new front-running case
Trending News
6 days, 15 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 …

Sebi suspends Bharat Global trading after stock rally 10,000 per cent in one year
Trending News
2 weeks, 2 days ago

Sebi suspends Bharat Global trading after stock rally 10,000 per cent in one year

New Indian Express  

MUMBAI: The market regulator Sebi has ordered the suspension of trading in Bharat Global Developers’ stocks, which have surged more than 10,000 per cent in the past year. The decision came after it was discovered that the company had falsely claimed to have secured large orders from marquee corporates like Reliance, Tata Group, UPL, and McCain India Agro. In a …

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation
Trending News
2 weeks, 3 days ago

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation

Live Mint  

The market regulator has suspended trading in Bharat Global Developers Ltd’s shares until further notice over allegations of fraudulent activities and false disclosures in a rare such action. "The shocking falsities presented by BGDL as legally required disclosures to the exchange expose a clear fraudulent scheme," said Sebi's order, authored by whole-time member Ashwani Bhatia. Regulator's scrutiny Citing Sebi's proactive …

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 — …

Ex-chief of National Stock Exchange sought advice from Himalyan Yogi, says Sebi
2 years, 10 months ago

Ex-chief of National Stock Exchange sought advice from Himalyan Yogi, says Sebi

India Today  

The former head of India's largest stock exchange shared confidential information with a yogi and sought his advice on crucial decisions, a probe by the market regulator has found, ahead of the bourse's much-awaited public listing. In a case of "bizarre misconduct" that was a "glaring breach" of regulations, Chitra Ramkrishna, the former chief executive of National Stock Exchange, shared …

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