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April 20, 2001 		Feedback  
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Ketan Parekh prima facie involved in rigging prices

The government said on Friday that entities connected or controlled by Ketan Parekh were prima facie involved in rigging prices of Global Trust Bank shares during the period October 2000 to January 2001.

Replying to a written question, Union Finance Minister Yashwant Sinha told the Lok Sabha that preliminary investigations carried out so far by the Securities and Exchange Board of India have revealed that Parekh was prima facie involved in rigging the prices of Global Trust Bank. Further, it has been noticed that Global Trust Bank has provided loans and overdrafts to broking concerns and investment companies of Ketan Parekh to the extend of about Rs 2.50 billion, he said.

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