Unbelievable facts of the Ketan Parekh Stock Market fraud
Even though not all rumors about influential people possess even the tiniest flicker of flame, they all still demolish the kingdoms those people have created for themselves. Some strong organizations can alter facts to their benefit. Ketan Parekh encountered many difficulties because of his few wrong decisions. His experience serves as an example of how a single tiny stress may destroy an organism.
Unbelievable facts about the Ketan Parekh Stock Market Fraud
Ketan Parekh was one of the biggest investors in the 1990s and 2000s. He was often called the “Big Bull” of the stock market. He was very keen to understand the new prospects of the businesses. Parekh was always happy to take on new challenges in his life.
In 2001, with the worldwide decline of ICE stocks Ketan Parekh’s life turned completely. He was immediately taken into custody as he was accused of taking a sizeable amount of loan from Madhavpura bank and failing to repay it on time. Moreover, he was ordered to pay 26 crores in monthly installments to the bank and Parekh was banned for more than 10 years from Stock Market.
Ketan Parekh was declared a fraud to the world. Nobody tried to know the truth about the scam. Ketan Parekh worked hard for years and was able to repay a lump sum amount to the bank. He never came out with his side of the story. The truth was only limited to a few of his friends and family. Parekh showed his full faith in the Supreme Court of India and kept working hard.
Ketan Parekh could have left the country to have a better life but instead of that he chooses to deal with the problems. The world must start knowing him as a great investor of that era.