The Securities and Exchange Board of India (Sebi) on Monday barred rogue trader Ketan V Parekh and 10 of his associates, who were instrumental in the stock scam of 1999-2001, from accessing the stock market "" directly and indirectly "" for another 14 years. The order is effective from December 12, 2003. | |
| Interestingly, Sebi said its new order on Ketan Parekh and his associates will run concurrently to its earlier order on December 2003, which too had barred these entities for 14 years. |
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| "Ketan Parekh was found to be the mastermind behind all the acts of omission or commissions by these entities, the order by T C Nair, wholetime member, Sebi, said. |
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| Sebi also restrained Navinchandra N Parekh, Kirtikumar N Parekh, Jayant N Parekh and Vipul D Parekh, from accessing the securities market for one year. |
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| Firms Triumph International Finance India, Triumph Securities, and NH Securities have been barred from the stock markets for five years. The 10 associates include his brother Kartik K Parekh and firms Classic Credit and Panther Fincap and Management Services. |
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