SEBI Special Court again rejects Ketan Parekh bail plea
Moneylife Digital Team 10 November 2017
The SEBI Special Court, on Friday rejected bail plea of Ketan Parekh, prime accused in the securities scam of 2000-2001. On Monday, too the Court had rejected Mr Parekh's bail application. Mr Parekh will remain in judicial custody.
 
The Securities & Exchange Board of India (SEBI) on Monday had apparently argued against Mr Parekh’s release since he is wanted in multiple cases and there is an apprehension that he may not show up again. 
 
Last week, the Special Court had issued a proclamation against Mr Parekh after he failed to appear before the regulator on multiple occasions. He finally appeared before the court only after a non-bailable warrant was issued. SEBI lawyers are understood to have argued that Mr Parekh may not appear again. 
 
Mr Parekh was accused of indulging in circular trading and was convicted for stock manipulation in 2008. In 2009, SEBI banned 26 entities post its investigation that revealed how several companies and brokers were indulged in circular trading on behalf of Mr Parekh. 
 
Later, in March 2014, a Special Court of Central Bureau of Investigation (CBI) had convicted Mr Parekh for cheating and sentenced him to two years of rigorous imprisonment. 
 
The advertisement/ proclamation ordered last month by the SEBI Special Court had taken, the market by surprise since many believed that Mr Parekh was now free to trade having completed the SEBI's 14-year ban. Parekh is Director of Panther Fincap and Management Services Ltd.
Comments
Narinder Singh
8 years ago
Hi M narinder I have deposit policy 2014 but my money not refund please advise
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