The Ketan Parekh Scam

Ketan Parekh is a former stockbroker from Mumbai, who was convicted in 2008 for involvement in the Indian stock market manipulation scam that occurred from late 1998 to 2001. During this period, Parekh artificially rigged prices of certain chosen securities (informally referred to as K-10 stocks), using large sums of money borrowed from banks including the Madhavpura Mercantile Co-operative Bank, of which he himself was a director. After so many investigations by the Securities and Exchange Board of India, Parekh and his front entities were found guilty of rigging the share prices of ten companies called K-10, and SEBI banned Parekh and associated firms from trading in the market for 14 years

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