The Daily Brief SEBI’s Big Catch: Ketan Parekh and the ₹65 Crore Heist
8 snips
Jan 6, 2025 A gripping investigation unfolds around Ketan Parekh's notorious front-running scam, showcasing SEBI's sharp tactics to ensure market integrity. The podcast also dives into India's struggle with critical mineral auctions, revealing a worrisome lack of buyer interest that threatens the country's technological future. Additionally, the discussion highlights new mining.
AI Snips
Chapters
Transcript
Episode notes
Ketan Parekh's Return
- Ketan Parekh, involved in a 2001 ₹40,000 crore scam, was barred from markets.
- He's back, now implicated in a ₹65 crore front-running scam uncovered by SEBI.
Front-Running Explained
- Front-running involves using confidential knowledge of large trades for personal profit.
- By buying before a large purchase and selling after the price rises, one gains an unfair advantage.
Parties Involved
- Five parties were involved: Ketan Parekh, Rohit Salgaokar, a big client, frontrunners, and Indian brokers.
- Three parties (Parekh, Salgaokar, frontrunners) acted intentionally, while two (client, brokers) were unaware.