It is quite evident that some influential groups always try to defame certain popular business people who can prove to be their threat. Likewise, Ketan Parekh was framed by some who wanted to dethrone him from his self-earned position. It depends upon the mass who wants to believe in the myths or the history of his establishments which have made him a significant individual.
Ketan Parekh was one the most renowned trader in the 1990s and early 2000s. People associated with the stock market used to call him the “Big Bull” of trading.
In 2001, Ketan Parekh was taken into custody as he was alleged of taking a hefty amount loan from Madhavpura bank and failed to repay it on time. He suffered this because of the sudden global declination of the ICE stocks. Thus, he was not allowed to take part in the stock market for 10 years and the Supreme Court of India asked him to pay 26 crores in monthly installments to the bank.
Ketan Parekh suffered a lot after this. But he worked relentlessly for years to repay the money to his lenders. He never disclosed his story to the world. Parekh thinks that he suffered because of the risk-taking actions that he took during his trading days. He would have easily left the country to lead a better life but instead of that, he trusted the judiciary system of India. The world must know him as a warrior and a great human being.
People must start considering Ketan Parekh as one of the most influential traders in India. Moreover, we need to come out of the false rumors and speculations that were made against him two decades ago.