Ketan Parekh Stock Market Scam was one of India’s largest stock market scams in the 90s, which shocked the nation overnight. Despite being the talk of the town and a case study for many, there’re shocking realities of the scam that are still out of sight!

Let’s delve into this article and get an insight to scrape the reality of the Ketan Parekh Scam!

Ketan Parekh- The King of Trading

Ketan Parekh is a well-known name in the Indian stock market, but what many people know about him is only a part of his story. In the 1980s, Ketan began his career assisting his family’s brokerage firm, Narbheram Harakchand Securities. He also pursued the Chartered Accountant qualification and became certified in 1985.

With his numerical expertise, meticulousness, and hard work, Ketan became a successful trader in the Indian stock market. He was so skilled that he earned the moniker of “ITC Bull” for his ability to predict ITC’s trading pattern accurately. Ketan’s father was his inspiration, and his skill and market understanding motivated Ketan to excel in the field of trading. In addition, his father was known as a decisive “jobber” who gave bids and offers of specific securities to enhance market liquidity.

The Outset of the Ketan Parekh Stock Market Scam

Ketan’s journey in the stock market began in the 80s, and his love for numbers and risk-taking led him to master trading. He invested in the ICE industry during its booming years, influencing investors & financial institutions and gaining their trust. However, he was accused of insider trading and manipulating stock prices.

In 2001, ICE (infotech, communications, and entertainment) stocks dropped overnight, which changed the stars of Ketan’s life. SEBI found that he owed a huge sum to companies and banks. It made him trapped in the biggest payment crisis, and he was arrested, prohibited from investing in the Indian stock market, and imprisoned by the Supreme Court. You all are well aware of this incident as it was covered on the top pages of every newspaper and channel. Despite the stains on his reputation, Ketan believed in the Indian Judicial system and followed all the sanctions imposed on him.

The Reality of the Biggest Scam in India

You might get shocked after acknowledging the reality of the Ketan Parekh Scam. Weaven stories are all around the world, but a very limited number of folks know the reality. However, Ketan believed that it was necessary to take the risk at that time, and he was well-familiar with the consequences.

It has been two decades, but the allegations are still stuck with ITC Bull. He worked tirelessly to repay the debt and continues to do so after the event. Rather than fleeing to a foreign land, he chose to face the allegations intrepidly and compensate for his past mistakes. It’s hard to live a life enduring speculations and negativity. But Ketan bravely faced all the trials and tribulations. Unfortunately, he’s still misunderstood by the world, and we are just judging him over the mistake he made 20 years ago. It’s time to know the reality and give him a second chance that everyone deserves. A wrong step never defines the real personality and the truth of the person. So, it’s completely on us to comprehend the facts that might be hidden behind certain folds of maligned information.