This is the third time that Ketan Parekh has been given permission to visit UK due to the ill-health of his daughter after his arrest in the multi-crore scam in 2001

Ahmedabad: A special court of the Central Bureau of Investigation has allowed former stock broker Ketan Parekh, main accused in the multi-crore Madhavpura Mercantile Cooperative Bank (MMCB) scam, to visit United Kingdom (UK) for two months to visit his ailing daughter, reports PTI.

The permission was granted by Additional Chief Judicial Magistrate HS Khutwad on an application by Parekh. However, he has been told to deposit Rs25 lakh with the court and also furnish bonds by two guarantors.

The RBI had recently cancelled the banking license of MMCB, nearly 11 years after the Rs1,200 crore scam came to light.

The former broker had sought permission to go to UK on the ground that his daughter was ill and required treatment.

This is the third time that Parekh has been given permission to visit UK due to the ill-health of his daughter after his arrest in the multi-crore scam in 2001.

Parkeh is presently out on bail.

Meanwhile, an application by the MMCB bank seeking cancellation of Parekh's bail was adjourned till 16th June by the court after Parekh's lawyer sought time to file reply to the bank's petition.