DOWNLOAD FULL PDF EBOOK here { roughnosecontdar.gq }. . Pied Pieper of Dalal Street Ketan Parekh is a former stock broker from 30 march for the security market scam known as Ketan Parekh scam. Ketan Parekh Case Study - Download as Powerpoint Presentation .ppt), PDF File .pdf), Text File .txt) or view presentation slides Study the Developments That Led to the Ketan Parekh Scam turtle always wins bo sanchez ebook ch1. Ketan Parekh Scam Merged - Download as Powerpoint Presentation .ppt /.pptx) , PDF File Ketan Parekh The Scam Explained in detailed! GoPRo eBook.

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    Ketan Parekh Scam Ebook Download

    THE SCAM: from Harshad Mehta to Ketan Parekh Also includes JPC FIASCO Download it once and read it on your Kindle device, PC, phones or tablets. THE SCAM: from Harshad Mehta to Ketan Parekh Also includes JPC FIASCO & Global Trust Bank Scam eBook: Debashis Basu, Sucheta Dalal: roughnosecontdar.gq THE SCAM book. Read reviews from world's largest community for readers. The most thrilling non-fiction business book ever written in India. A fast, colou.

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    When the price was high enough, he pledged the shares with banks as collateral for funds. He also borrowed from companies like HFCL. This could not have been possible out without the involvement of banks. The pay orders were discounted at BoI. It was alleged that MMCB issued funds to KP without proper collateral security and even crossed its capital market exposure limits.

    KP used around 16 such accounts, either directly or through other broker firms, to obtain funds. Apart from direct borrowings by KP-owned finance companies, a few brokers were also believed to have taken loans on his behalf. KP reportedly used his BoI accounts to discount pay orders worth about Rs 24 billion between January and March BoI's losses eventually amounted to well above Rs 1.

    The MMCB pay order issue hit several public sector banks very hard. KP's modus operandi of raising funds by offering shares as collateral security to the banks worked well as long as the share prices were rising, but it reversed when the markets started crashing in March KP was asked to either pledge more shares as collateral or return some of the borrowed money.

    Ketan Parekh - Wikipedia

    In either case, it put pressure on his financials. By April , mutual funds substantially reduced their exposure in the K stocks. However, with improvements in the global technology stock markets, the K stocks began picking up again in May Aftek Infosys was also trading at above Rs Led by doubts regarding the future of technology stocks, prices started falling across the globe and mutual funds and brokers began selling them.

    KP began to have liquidity problems and lost a lot of money during that period.

    Dr Ketan Pravin Parikh

    It was alleged that 'bear hammering' of KP's stocks eventually led to payment problems in the markets. One, the lack of regulations and surveillance on the bourse allowed a highly illegal and volatile badla business Refer Exhibit III.

    Though officially the scrips were in the brokers' names, unofficially KP held them. KP used to cover any losses that occurred due to price shortfall of the scrips and paid a 2. The System that Bred these Factors The small investors who lost their life's savings felt that all parties in the functioning of the market were responsible for the scams.

    They opined that the broker-banker-promoter nexus, which was deemed to have the acceptance of the SEBI itself, was the main reason for the scams in the Indian stock markets. SEBI's measures were widely criticized as being reactive rather than proactive. The market regulator was blamed for being lax in handling the issue of unusual price movement and tremendous volatility in certain shares over an month period prior to February Analysts also opined that SEBI's market intelligence was very poor.

    It ignored the large positions built up by some operators.

    Worse, it asked no questions at all. It had to investigate these things, not as a regulatory body, but as deep-probing agency that could coordinate with other agencies.

    Ketan Parekh Case Study

    Who will bear the loss its inefficiency has caused? Interestingly enough, there were reports that the arrest was motivated by the government's efforts to diffuse the Tehelka controversy.

    Many exchanges were not happy with the decision of banning the badla system as they felt it would rig the liquidity in the market. Analysts who opposed the ban argued that the ban on badla without a suitable alternative for all the scrips, which were being moved to rolling settlement, would rig the volatility in the markets.

    They argued that the lack of finances for all players in the market would enable the few persons who were able to get funds from the banking system - including cooperative banks or promoters - to have an undue influence on the markets. The duped investors could do nothing knowing that the legal proceedings would drag on, perhaps for years. Observers opined that in spite of the corrective measures that were implemented, the KP scam had set back the Indian economy by at least a year. Reacting to the scam, all KP had to say was, "I made mistakes.

    Owing to the low liquidity these periodic investments would drive these stocks up really quickly, this created a buzz around these stocks and attracted more investors both retail and institutional to invest in these stocks further inflating the stock prices.

    Contd Meanwhile KP owing to his influential contacts, built an extremely robust and well knit network of brokers who were willing to borrow on his behalf from the various banks and Institutions whose chairmen and top management were already in on the scam alongside KP. Now came the part where the stocks he was invested in had risen significantly, now he would pledge a portion of these overvalued securities to raise more funds from different sources.

    MMCB was the frontrunner when it came to lending to KP and his associates, it had breached all capital exposure limits to pump money into this scheme. Contd This cycle continued, every time KP would pledge overvalued shares and borrow money to rig the price of more and more stocks and gullible investors how were under the influence of riding the DotCom boom thought these stocks were bound to keep going up for a foreseeable future, hence they stay put in the K stocks.

    KP now decided to burst the bubble by offloading huge amounts of these stocks and the retail investors were caught on the wrong foot as the stock prices tumbled so fast they hardly had any time to close their positions. Detection Ketan Parekh brought shares when they were trading at a low price and saw the price go up in bull market. When the prices were high enough, he pledged the shares as collateral to the banks for loan. Main accomplice- Madhavpur Mercantile Cooperative Bank gave large amount of money without proper collateral Dot-Com bubble burst in saw the K shares fall rapidly.

    KP was asked to either repay the loan or keep more shares as collateral. Bear Hammering of K stocks lead to payment problems for KP.

    This was followed by the payment problems in Calcutta Stock Exchange which was critical to KPs operations. The value of stocks held by CSE brokers decreased by around Rs.

    All this lead to a stock market crash of points immediately the next day following the budget which saw SENSEX shoot up by points.

    This prompted SEBI to order investigation into the books of several brokers under suspicion. RBI also ordered investigation into banks after reports that banks had not followed proper procedures while lending money to KP. BSE president Anand Rathis resignation on charges of divulging sensitive information created further problems.

    Factors that helped him Ketan Parekh bought shares when they were trading at low price and saw the prices go up in the bull market while continuously trading.

    When the prices were high enough, he pledged the shares with banks as collateral for funds, and also borrowed from the companies like HFCL. It could not have been possible without the involvement of banks. The pay orders were discounted at BoI.

    It was alleged that MMCB issued funds to KP without proper collateral security and even crossed its capital market exposure limits. KP used around 16 such accounts, either directly or through other broker firms, to obtain funds.

    Apart from direct borrowings by KP-owned finance companies, a few brokers were also believed to have taken loans on his behalf.

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