Friday, June 5, 2009

Sebi says: Ketan Parekh active in Stock market

Market controller Sebi (Securities Exchange Board of India) has establish that barred stock broker Ketan Parekh is still active in the stock Markets and has controlled 26 entity associated to Parekh from trading. CNBC-TV18’s Sajeet Manghat report.
Ketan Parekh | Ketan Parekh - Stock Market | Sebi says Ketan Parekh still active in market, bars 26 firms
Sebi (Securities Exchange Board of India) has established something that was long doing the round in the stock market — that Ketan Parekh is still vigorous. It has unearth proof that the stock broker, who was barred from the stock markets for the 2000 con and in particular referred to as KP, is active during customers

According to Ketan Parekh, Sebi (Securities Exchange Board of India) “It has been steering funds through 26 entity and thorough layer of transaction, has routed his funds in the securities market. “It appear that he has expediently used the linked customers at will as its front entities for execute trade preferred by him in the securities market,”
The information came into light after the profits Tax department came out with some comments from source by which KP paid a advance to one of the entities, amounting to near about Rs 26 crore. Sebi (Securities Exchange Board of India) approved out an examination in nine scrips that are include CAL Refineries, Temptation Foods, and Bang Overseas etc.
The Income Tax department experiential that an interest-free advance amount would be passing on to the linked customers without any agreement, which would then be invest in the protections in many case.
Sebi (Securities Exchange Board of India) also establish that the transactions would occur during a layer of investments by customers and there would be an addition of this money at the bank scheme.

No comments:

Post a Comment