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Ketan Parekh Scam

After the blockbuster scam 1992 web series we are all now aware of the biggest scam of the Indian stock market carried out by Harshad Mehta that shook the whole Indian financial ecosystem but 9 years later in 2001 later another scam stormed the Indian stock markets. The mastermind behind the 2001 Indian stock market scam was Harshad Mehtau2019s protu00e9gu00e9 Ketan Parekh and thatu2019s why it was popularly known as the Ketan Parekh scam of 2001.

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Ketan Parekh Scam

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  1. Ketan Parekh Scam Ketan Parekh is a former stockbroker and trader who was involved in one of the biggest securities scams in Indian history. He was born in Mumbai, India, in 1966, and began his career in the stock market in the 1990s. He rose to prominence in the late 1990s and early 2000s, when he became known as a "big bull" for his high-risk investments in technology, media, and telecommunications (TMT) stocks. Parekh was known for his aggressive trading strategies, which involved using large amounts of borrowed money to buy shares of companies that he believed would rise in value. He also used a technique called circular trading, where he would buy and sell shares of a particular stock among a group of brokers to artificially inflate the stock's price. Parekh's fortunes changed in March 2001, when the stock market crashed and several of the companies in which he had invested collapsed. It was revealed that he had used illegal methods to manipulate the market and artificially inflate the prices of certain stocks. This Ketan Parekh scam was estimated to be worth around Rs. 1,000 crore (approximately $150 million at the time). Parekh was arrested in 2002 and charged with several offenses, including fraud and criminal conspiracy. He was later convicted and sentenced to two years in prison. Since his release, he has largely stayed out of the public eye and has not returned to the stock market.

  2. What is the Role of Ketan Parekh in scam 1992? Ketan Parekh is a real-life Indian stockbroker who was involved in a major financial scandal in the early 2000s. However, he is not directly related to the events portrayed in the Indian web series "Scam 1992: The Harshad Mehta Story." "Scam 1992" is a series based on the life and events surrounding Harshad Mehta, another prominent Indian stockbroker who was involved in a securities scam in 1992. Harshad Mehta's scam involved manipulating the stock market through a technique called "circular trading" and exploiting loopholes in the banking system. He used funds from the banking system to artificially inflate the prices of certain stocks, leading to a stock market boom. While Ketan Parekh was also a stockbroker in the same era and was involved in a subsequent scam in the early 2000s, the series primarily focuses on the story of Harshad Mehta. Ketan Parekh's involvement in the stock market and his role in subsequent scams are separate from the events portrayed in "Scam 1992."

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