Ketan, Two Other Brokers Out On Bail

Stockbroker Ketan Parekh, his cousin Kartik Parekh and associate Jatin Sarvaiyia, held on charges of cheating a Mauritius-based overseas corporate body (OCB) of Rs 83.22 crore, were released on bail on Wednesday by a sessions court. Judge R B Malik released them on personal surety of Rs 2.5 lakh each and a Mumbai-based surety of the same amount. The judge asked the three to report to the economic offences wing of the Mumbai police regularly for three months.

The court, while granting bail to the three, noted: