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March 30, 2001 		Feedback  
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Sinha justifies CBI move against Ketan Parekh

Finance Minister Yashwant Sinha on Friday justified Central Bureau of Investigation's (CBI) action of arresting Bombay-based broker Ketan Parekh, for his alleged involvement in price manipulation leading to a Rs 8.43 billion securities scam.

"There was a irregularity that was noticed (in the securities transactions). The Bank of India has obviously lost some money. They have reported this irregularity involving criminality to the CBI as they should have done," Sinha told reporters in New Delhi, Friday.

Although Sinha declined to name the individuals, he said, "Sebi is conducting its inquiry. I will wait for the Sebi report."

Bank of India (BOI) filed a complaint with the CBI last night following which the agency registered a case of cheating and forgery against the Big Bull.

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