Most of us are well-familiar with the Ketan Parekh Scam that happened in 2001 and committed one of the biggest scams in the Indian Stock Market. After this incident, Mr. Ketan was introduced as a rigger man for manipulating the stock price and a mastermind behind the ruthless scam. But do you know the real truth of this scam? Your answer may be Yes.

Hold on! You’re still in the dark. Let’s scroll down and enlighten the TRUTH of the Ketan Parekh Scam.

Story Behind Ketan Parekh Scam

Few closed ones of Parekh are known of the scam truth as the news had already been covered by a plethora of publication houses. And it’s also easy for us to believe what we read and see. So, no one finds it necessary to know the real truth.

Have you ever thought, why is the God for investors introduced as a scammer? The stock market is based on two factors: fear and greed. It’s immensely significant to balance these two key running factors while diving into the ocean of the stock market. Ketan Parekh, moniker ITC Bull, was a risk-taker and the leading player in stocks. There was a time when investors believed that he had a sleight of hand to turn sand into gold.

Mr. Parekh had a positive outlook for stocks as he had in-depth knowledge of finances that he earned from his CA profession. Along with this, he had been great in numbers, and hardworking in nature gained these qualities from his father. He started his career at his brokerage firm, Narbheram Harakchand Securities, established by his grandfather in pre-Independence India. While working in this firm, he developed a keen interest in trading and stepped into the stock market.

The late ’90s was the booming era for ICE industries, and Ketan predicted the growth of this sector. He was one of the top traders in the 1990s as he helped companies to grow by handling their financial cycles. Ketan finely observed the trading techniques and borrowed a huge amount from banks and investors, but how could one know that the booming sector could fall overnight? This led to great loss for Mr. Ketan but not like others; he took an honest approach and confronted the losses.

A Pied Piper or A Law-Abiding Citizen?

While people know Mr. Ketan as a scammer and a pied piper of the 2001 scam, no one knows how he worked relentlessly to repay the amount, and the process is ongoing. He had the option to flee from the country and live a luxurious life like other scammers, but as a patriot, he followed all the court orders and served his life for amends. Indeed, he is a law-abiding citizen respecting the laws of the country.

After two decades of the scam, maligned speculations are still attached to Ketan’s name and blowing his reputation. All his corrective deeds are misunderstood as people just read papers ignoring the facts. However, acknowledging the real facts in such cases are very important as it defines the right story and helps in getting the best possible outcome from the case. Just assume a person is living a stressful life and making unending efforts to make things right. His whole life is confined to the scam case, and he’s struggling with devastating ups and downs. It’s the hidden side of the Ketan Parekh Scam that needs to be poured out. So, it’s the time when people should know the truth and get aware of the true side of Mr. Ketan.