Ketan Parekh News Update : Stock market operator Ketan Parekh was controlling the stock market from behind the scenes through insider information. SEBI put the entire system on alert mode as soon as it got wind of this. Ketan Parekh's secret network was found and as soon as evidence was found, Ketan Parekh's participation in the stock market was banned. Along with this, his illegal earnings of Rs 65 crore 77 lakh were confiscated. Suspicious bank accounts related to him have also been frozen. With this order of SEBI on January 2, a unique front running scam of its kind has come to light in the stock market. It is known that after a stock scam in the year 2000, Ketan Parekh was in jail for a long time. At that time also, he was banned from trading in the stock market for 14 years. In its order of January 2, SEBI has also banned Singapore-based stock trader Rohit Salgaonkar from doing business.

This is how Ketan Parikh was doing front running scam

In the 188-page order issued by SEBI, it is said that traders of a big fund house based in the US used to take advice from Rohit Salgaonkar for trading in the Indian stock market. Many confidential information was also shared by them with Rohit Salgaonkar. Rohit Salgaonkar used to send this information to Ketan Parekh. Ketan Parekh used to make money by using this information for a counter party. For this, he had created a front runner network, which included stock brokers or their employees. Who usually used to plan to buy or buy a stock. 

This is how they executed the plan

The information sent by Rohit Salgaonkar was confidential and was not available on any public platform. In this way, these people were making a lot of money by knowing the confidential plans of any company or stock trader in advance.