What is the Truth of Ketan Parekh scam?

AHMEDABAD, India - Nov. 14, 2022 - PRLog -- The Scam of Madhavpura

Ketan Parekh, the known "Big Bull" of the stock market, allegedly got a loan of quite a heavy sum from the Madhavpura bank and could not return the money in due time. The bank had to close down as it could not recover the money it gave to its borrowers, and as per the legal proceedings, Supreme Court (in 2007) ordered Ketan Parekh to pay the money he owed to the bank in the form of monthly installments of 26 crores. The recognized part of this scam's story ends here because what happened afterward and if Ketan was able to repay the money is the truth that is only known to some people.

The Truth Behind The Madhavpura Scam

Following the court orders and being a law-abiding citizen, Ketan Parekh returned a whopping amount and fulfilled his obligations as set by the Supreme Court. Sadly, no one was interested in knowing this; it remained a lesser-known fact for years. Ketan went behind bars and worked relentlessly for years to return the money he owed. He is still working on these corrective measures and is doing what's right.

How did the Ketan Parekh Scam help in the modernization of the market?

India Today reported that the market collapse ultimately pushed for urgent modernization. It is also interesting to note that a seasoned trader who had completed a few transactions for Ketan Parekh (abbreviated KP in stock market circles), as he was and is still known, stated that Ketan Parekh improved the system through more difficult times. This gave the much-needed help to close the loopholes and make laws more stringent, along with specific procedures to avoid such manipulation by stock brokers and traders.

Conclusion

It is pretty clear that Ketan Parekh has been known for his scam for more than 20 years, but t is not fair that once a name is attached to a scam should always be known with it. There's more to Ketan Parekh than just the scam.

https://untoldtruthofhistory.in/the-ketan-parekh-scam-tru...