Popularly known as ITC Bull, Ketan Parekh is the name that shook the entire nation overnight. Allegedly associated with the biggest stock market scams, Ketan Parekh has become a case study for many. Everybody knows about the Ketan Parekh scam, but only a few are aware of the untold story of Ketan Parekh. Today’s article will unveil the untold Ketan Parekh story hidden behind the curtains of the stock market scam.
From being the most renowned and influential name in the Indian stock market to facing severe blows to his reputation Ketan Parekh undoubtedly has had a roller-coaster journey. While helping his father and uncle in handling his family-run business “Narbheram Harakchand Securities,” Ketan Parekh cleared the most challenging Chartered Accountancy exam in 1985. Sooner the professional journey of Ketan Parekh took a twist when he realized his passion for the stock market.
At a very young age, Ketan Parekh embarked on his career as a stock trader and became a prominent name in the world of finance. With utmost dedication and hard work, Ketan Parekh soon mastered trading skills and became an influential figure for those who aspire to learn the art of trading.
Ketan found his role model in his father as he was the best jobber of that time, but unlike his father, Ketan Parekh was a risk taker. He was interested in exploring new ventures, so he invested in software companies. With thorough market research and a calculative approach, Ketan Parekh explored the potential of different companies and tried his luck with them.
With his excellent market analysis, calculative and risk-taking approach Ketan Parekh made it to the list of top traders in the 1990s. Greed and fear are the driving factors of the share market, where some people are greedy to reap maximum profit and don’t care about others. Meanwhile, some people fear that they will lose all their hard-earned money. Unlike some greedy traders, when Ketan Parekh faced loss, he took an honest approach and accepted his downtime by openly admitting the loss. He ensured that his lenders didn’t face a hard time and paid every single penny of the loan. He faced several hard blows to his social image and reputation, but his sincere faith in the Indian Judicial system kept him going.
Ketan Parekh never revealed his side of the story, and that’s why only a handful of people know the real Ketan Parekh. The majority of people know Ketan Parekh as a convicted investor who indulged in many scams, but in reality, he was trapped, triggering a payment crisis on the bourses, and was forced to default on his payment obligations to banks. People only know that Ketan was arrested and served time in prison, but now it’s high time that people stop their judgmental thoughts and know the real Ketan Parekh story hidden from the general public for over decades.
Despite the fact that the risks Ketan took were the need of the hour, Ketan repaid a huge amount of the borrowed money from banks that had been lost in 2001, with a few transactions still under process. He faced all the charges against him and still kept his hope high and undisputedly accepted the court’s restrictions placed on him.
He is still misunderstood by many, as people never try to find the truth. In reality, Ketan Parekh is the trading mastermind who saw a complete paradigm shift in the old-school trading business practices, but unfortunately, his name is glamorized and linked to fraud’s disregard of the corrective measures he took. He bravely faced all the allegations and has been patiently attending to the cases filed against him. His unpopular story deserves to be known to everyone, and like others, Ketan Parekh also deserves another chance.