It is popularly said not knowing is preferable to having little information. People frequently fill in the remaining half of what they do not know if they only know a portion of it. To appraise the situation, it is, therefore, preferable to be aware of the complete tale.

Although not all rumors about powerful individuals contain even the slightest spark of flame, they still destroy the kingdoms they have built for themselves. Some powerful groups can change particular pieces of information to serve their interests. One of the unfortunate individuals to go through such a dreadful experience is Ketan Parekh. His life is a great example of how a single reputational stain can ruin a lifetime.

The shocking truth behind the Ketan Parekh scam

One of the most important figures in the history of the stock market is Ketan Parekh. Parekh began his career by helping his father and grandfather in their family business. He trained for the Chartered Accountant exams, becoming a CA in 1985. Ketan Parekh gradually entered the stock market due to his rigorous approach and diligent temperament. In the 1990s and 2000s, he was considered the “Big Bull” of the Indian Stock Market. He was famous for taking significant risks during his trading days. He very keenly studied the prospect of the software and telecom industries of that time and invested in them. He also started working with financial institutions to make them debt free and globally recognized.

But in 2001, Ketan Parekh’s life changed completely with the worldwide decline of ICE stocks. Parekh was taken under custody because he was alleged of borrowing a sizeable amount of money from the Madhavpura bank and failed to repay it on time. The Supreme Court of India ordered him to pay 26 crores of monthly payments to the bank. Additionally, he served in prison and was restricted to take part in the stock market for more than ten years.

Ketan Parekh never came up with the real side of the story. The shocking truth was only known to very few of his friends and family members. Parekh worked tirelessly for years and was able to repay a hefty amount of money to the bank. He accepted all the orders made by the Supreme Court of India. He decided to stay in the country and work for the betterment of his life. He would have chosen to leave the country and live peacefully. His life would have been better, but he chooses not to live and worked hard to repay the money to his lenders.

Ketan Parekh believes that he suffered because of his risk-taking practices during his trading days. Now the world must know him as a trader who never gave up. His side of the story is never told to the world which leads to more rumors and speculations. This is high time when the world must come across the shocking secrets about the 2001 scam.

Conclusion

When it comes to money laundering, India has seen worse. Given everything he has accomplished over the years, Ketan Parekh deserves a second opportunity. He battled for his reputation with faith in India’s judicial system. He must be recognized for being a nobleman and a skilled trader by the entire globe.