Ketan Parekh

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Ketan Parekh is a Mumbai based stock broker. He is from a well to do share-brokerage based family. He was involved in the shares scam of the year 2000/01. Ketan had large borrowings from Global Trust Bank (GTB), whose shares he was ramping up (so that he could get a good deal at the time of its merger with UTI Bank) – he got Rs 250 crore loan from GTB, though Global Trust’s chairman Ramesh Gelli (who was later asked to quit) repeatedly said that lending to Ketan was less than Rs 100 crore in keeping with Reserve Bank of India norms.

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