Business Ethics, 2nd Edition

Case Study

KETAN PAREKH SCAM 2001WHISTLE-BLOWER

(The case is based on reports in the print and electronic media. The case is meant for academic purpose only. The writer has no intention to sully the reputations of corporations or executives involved.)

KETAN PLAYED AROUND WITH OTHERS’ MONEY¹

Ketan Parekh is a notorious name in the annals of India’s securities market. He used an ingenious technique to get public funds for his price-rigging operations. Ketan Parekh was reported to have had approximately Rs 20,000 million to play around with during the month prior to his arrest in 2001. Securities and Exchange Board of India’s (SEBI’s) preliminary enquiry unearthed the fact that Ketan got approximately Rs 6700 million from corporations such as Zee ...