Sebi cracks down on Ketan Parekh in new front-running case Parekh and Salgaocar orchestrated trades for US client, generating ₹65.77 crore
Sebi Cracks Down on Ketan Parekh in New Front-Running Case
In a significant move to maintain the integrity of the Indian stock market, the Securities and Exchange Board of India (Sebi) has launched an investigation into Ketan Parekh, a notorious figure previously convicted for stock market manipulation. This time, the focus is on a new front-running case involving illicit trades orchestrated alongside Rohit Salgaocar.
The Allegations
According to reports, Parekh and Salgaocar executed secretive trades on behalf of a US-based Big Client, resulting in unlawful gains amounting to a staggering ₹65.77 crore. This case has raised eyebrows and highlighted the persistent risks of manipulation in the stock market.
What is Front-Running?
Front-running is a practice where brokers execute orders on a security for their own account while taking advantage of advance knowledge of pending orders from their customers. This unethical practice undermines investor confidence and skews the fairness of market operations.
The Implications for Investors
The ongoing investigation serves as a crucial reminder to investors about the importance of transparency and integrity in trading practices. As Sebi ramps up its efforts to curb such activities, it emphasizes the need for vigilance among investors and market participants alike.
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Conclusion
As the investigation unfolds, it will be interesting to see the measures Sebi will implement to prevent such manipulative practices in the future. For now, investors should remain cautious and informed to safeguard their interests.
