Ketan Parekh was a stock broker in Mumbai who manipulated the Indian stock market between 1999-2001, causing prices of some stocks to rise dramatically then crash. He did this through forming a network of brokers, targeting certain stocks, and using borrowed money to continually purchase shares to inflate prices. However, the scheme collapsed as prices fell and his borrowing was uncovered, causing major losses and reforms to India's stock market regulations and oversight.
This was the second most important scam that rocked the Bombay Stock Exchange after the Harshad Mehta scam. Ketan Parekh is a former stock broker from Mumbai,who was convicted in 2008, for the involvement in India stock market manipulation,that occured from late 1998 to 2001.
This was the second most important scam that rocked the Bombay Stock Exchange after the Harshad Mehta scam. Ketan Parekh is a former stock broker from Mumbai,who was convicted in 2008, for the involvement in India stock market manipulation,that occured from late 1998 to 2001.
A case study on how Harshad Mehta scammed the entire stock market. There are certain examples and history on how he played a role as a stockbroker.
The underlined and highlighted words can be googled to further more enhance your knowledge.
this ppt is about one of the biggest scam in india. mastermind behind the scam was Harshad Mehta who acted broker between the banks. he used banks money for trading purpose.
Sahara - SEBI case is the case of the issuance of Optionally Fully Convertible Debentures issued by the two companies of Sahara India Pariwar to which Securities and Exchange Board of India had claimed its jurisdiction and objected on why Sahara has not taken permission from it. Sahara has claimed that the said bonds are hybrid product, thus does not come under the jurisdiction of SEBI, instead is governed by Registrar of Companies (ROC) under Ministry of Corporate Affairs, from which the two companies of Sahara has already taken permission and submitted the red herring prospectus with ROC before issuing the bonds.
Punjab National Bank Fraud (Nirav Modi Scam) ppt presentation slideshareFatema Tandiwala
A case study presentation on Punjab National Bank scam (Nirav Modi)
India's second largest state-owned lender Punjab National Bank disclosed on Feb. 14, 2018 that it was the victim of the country’s largest bank fraud.
PNB revealed that fraudulent transactions by billionaire jeweler Nirav Modi and related entities amounted to $1.77 billion or over Rs 11,400 crore.
The key accused in the case were jeweler and designer Nirav Modi, his maternal uncle Mehul Choksi, and other relatives and some PNB employees.
Nirav Modi and his relatives escaped India in early 2018, days before the news of the scam became public.
PNB scam has been dubbed as the biggest fraud in India's banking history.
A case study on how Harshad Mehta scammed the entire stock market. There are certain examples and history on how he played a role as a stockbroker.
The underlined and highlighted words can be googled to further more enhance your knowledge.
this ppt is about one of the biggest scam in india. mastermind behind the scam was Harshad Mehta who acted broker between the banks. he used banks money for trading purpose.
Sahara - SEBI case is the case of the issuance of Optionally Fully Convertible Debentures issued by the two companies of Sahara India Pariwar to which Securities and Exchange Board of India had claimed its jurisdiction and objected on why Sahara has not taken permission from it. Sahara has claimed that the said bonds are hybrid product, thus does not come under the jurisdiction of SEBI, instead is governed by Registrar of Companies (ROC) under Ministry of Corporate Affairs, from which the two companies of Sahara has already taken permission and submitted the red herring prospectus with ROC before issuing the bonds.
Punjab National Bank Fraud (Nirav Modi Scam) ppt presentation slideshareFatema Tandiwala
A case study presentation on Punjab National Bank scam (Nirav Modi)
India's second largest state-owned lender Punjab National Bank disclosed on Feb. 14, 2018 that it was the victim of the country’s largest bank fraud.
PNB revealed that fraudulent transactions by billionaire jeweler Nirav Modi and related entities amounted to $1.77 billion or over Rs 11,400 crore.
The key accused in the case were jeweler and designer Nirav Modi, his maternal uncle Mehul Choksi, and other relatives and some PNB employees.
Nirav Modi and his relatives escaped India in early 2018, days before the news of the scam became public.
PNB scam has been dubbed as the biggest fraud in India's banking history.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
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Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
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Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
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Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
2. • Ketan Parekh
• How it happened
• How was it detected
• Systematic Flaws
• Implications
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
3. • Ketan Parekh is a former stock
broker from Mumbai, India
• He was convicted in 2008, for
involvement in the Indian stock
market manipulation scam in late
1999-2001
• Currently he has been debarred
from trading in the Indian stock
exchanges till 2017
• He was trainee of Harshad
Mehta
• Ketan Parekh can be best
described as the Pied Piper of
Dalal Street
• Parekh came from a family of
brokers which helped him to
create a trading ring of his own
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
4. • Formed a network of brokers
• Identified and targeted 10 stocks
• K-10 stock, KP Index
• Zee telefilms went up from Rs. 127
to Rs. 2330, Himachal Futuristic – Rs.
Rs. 194 to 2553
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
6. Indigenous carry-forward system invented on the
Bombay Stock Exchange
Badla trading involved buying stocks with borrowed
money.
The stock exchange acts as an intermediary
Interest rate determined by the demand for the
underlying stock
Maturity not greater than 70 days
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
7. • When stock prices were high, they were pledged with
banks as collateral
• No problems as long prices were rising
• Pay order fraud
• Issued cheques to MMCB drawn on BOI
• Went to BOI, SBI, and PNB and got pay orders discounted
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
8. • Stock market crash of 2000
• KP started borrowing heavily
• Attempted to rig the price upwards and later sell
• But failed to do so
• International bear cartel
• IT department found discrepancies in sources of funds of
KP
• Routine market surveillance of 5 stocks
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
9. • Trading system lag of one week
• Credit Check
• High exposure allowed
• Lack of records and margins at Calcutta stock exchange
• Lending without proper collateral
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
10. BOI complains to CBI-KP is arrested
Global Trust Bank and Bank of India 's merger failure
SBI's loss was minimal. So it did nothing
MMTC was liquidated ; KP paid its stockholders Rs.400
Crores.
He still owes them Rs. 400 Crores
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
11. One of the biggest Fall in BSE -700 points
KP and other traders were banned from trading for 17
years
Short selling was banned for 6 months.
Badla system was banned
All shares that were put as collaterals should be done so
through NSE and BSE.
Options and Index Future derivatives was introduced
10% additional deposit Margins.
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
12. -A small investor hit by KP scam
in April 2001
http://indiatoday.intoday.in/story/2001-
Ketan+Parekh+scam:+Stock+and+bull+story+/1/
75489.html
Editor's Notes
Borrowed initially and then financed by giving bonds as collateralPay order route – while he faced liquidity problemsDot com boom all over the world where all ICE stocks were bullishVolumes and prices went upUnion budget of 2001 – increase by 177 pointsNext day – bear cartel – decrease by 176 point – targeted K-10 stocksThe sudden crash made SEBI undertake investigations Defrauding BOI of $30 million
etan's rise to fame occurred at the same time as the worldwide dot-com boom (1999-2000) and he relied primarily on the shares of ten companies for his dealings (now known infamously as the K-10 scrips).Ketan had large borrowings from Global Trust Bank, whose shares he was ramping up (so that he could get a good deal at the time of its merger with UTI Bank) – he got Rs 250 crore loan from Global Trust Bank, though Global Trust’s chairman RameshGelli (who was later asked to quit) repeatedly said that lending to Ketan was less than Rs 100 crore in keeping with Reserve Bank of India norms. Ketan and his associates got another Rs 1,000 crore from the Madhavpura Mercantile Co-operative Bank despite the fact that RBI regulations ruled that the maximum a broker could have got as a loan was Rs 15 crore.
RameshgelliGTB 250 crores
Due to various factors including the bursting of “New Economy” bubble and the subsequent downward trend in NASDAQ, Ketan Parekh and his cronies started borrowing heavily. The only option before Ketan Parekh and other members of the bull cartel was to recklessly rig the prices of shares upwards and then sell them. Initially, he and his cronies borrowed heavily from the banks but later switched to unofficial markets in Calcutta. Over 90 per cent of transactions in Calcutta are estimated to be unofficial, outside the exchange with no records and margin money. The financiers at Calcutta were too happy to lend huge amount of money to Parekh and his cartel at rates as high as 100 per cent.Because of liquidity crunch, Parekh and his cronies were finding it extremely difficult to further push the prices of stocks upwards. Taking advantage of this situation, the international bear cartel got together and started massive selling of “KP Stocks” in the hope of buying them dirt cheap at a later stage. The short selling was carried out with the active connivance of AnandRathi and other broker-directors of the BSE who provided sensitive information to the bear cartel about market exposure of Parekh and his cronies. The sudden selling of shares created a panic-like situation in the markets. Sensing a major meltdown, the big market players not associated with the bear cartel also started heavy selling of “KP Stocks.” Even the Madhavpura Cooperative Bank started offloading the shares it held as collateral from Parekh, fearing his inability to pay back the borrowed funds. All these factors further contributed towards the steep decline of the prices of “KP Stocks.”