Ketan Parekh Scam – The Real Story in Hindi
Share market kayee logo ke liye ek wish-granting factory hai aur baakion ke liye ek nightmare se zada kuch nahi. Warren buffett sirf share market me invest karke world ke 3rd richest aadmi ban gaye the. Lekin koi un stories ko nahi bhool sakta jahaan investors raato raat bankrupt yaani diwaliya ho gaye. Share market sirf ek luck ke game se kahin zada hai. Lekin kayee baar aisa bhi hota hai jahaan log rules aur regulations ke uper ja kar share market ko manipulate karte hai. Ketan Parekh Scam case aise hi do stock Broker frauds me se ek tha jisne
share market ko hila ke rakh diya tha.
Ketan Parekh ek chartered accountant tha by profession, jis ke liye share market ek family business tha jo use uske father se mila. Parekh ne apne career ki shuruaat ek reputed brokerage firm Narbheram Harakchand Securities (NH Securities) se ki thi. 90’s me wo famous stock Broker Harshad Mehta ke contact me aya aur baad me GrowMore investment naam ke firm ko join kar liya. Ye wahi firm tha jisse Mehta ne establish kiya tha aur 1992 ke Indian stock market scam me iska bohot bada involvement tha.
GrowMore investment firm ke kuch scams me involve hone ke bavajud Parekh ko kabhi bhi doshi nahi thahraya gaya. Kyunki unlike Harshad Mehta , Parekh ne hamesha ek low key profile maintain kar ke rakha aur ek simple lifestyle present ki duniya ke samane. Harshad Mehta ke under reh kar usne stock market ke baare me kaafi kuch seekha aur Aage chal ke Ketan Parekh bhi stock market ka bull ban gaya tha. Ketan Parekh ke har kadam ko investors ne bohot baariki se follow karna shuru kar diya tha. Unka maanana tha ki Parekh jis bhi cheez ko chhuta tha wo sone ki khaan ban jaati thi.
Ketan Parekh ki stock holdings zadatar information, communication aur entertainment sector me thi. Inhen ICE Sector shares ke Naam se bhi jana jata hai. Uske portfolio me 10 handpicked stocks the, jinhe K-10 stocks kaha jata tha. Stock Market me hamesha K-10 shares ke furture me tezi ki prediction ki jaati thi. Wo kolkata stock exchange me trade karta tha jo ki rules and regulations ki kami ki wajah se uske liye kaafi faidemand tha. 1999 se lekar 2000 tak Parekh ne share market par rule kiya.
Ketan Parekh ne is scam ke liye do main strategies ko follow kiya jinka naam hai “Circular Trading” aur “Pump and Dump scheme”. Circular Trading ya fir Badla System ke ander usne din bhar me kuch shares ko frequently khareedne aur beechne ke liye kayee junior traders ko laga rakha tha. Iski wajah se trade volume tezi se badh jata tha. Trade volume ka sidha sa mtlb hai ki din bhar me kisi Company ke kitne shares khareede aur beeche gaye. Jitna zada buying aur selling hoga ek share ka utna hi zada uska trade volume hoga. Jo investors traded volume pe apne decisions lete the, wo aise shares ko active maan kar usme invest karne lagte. Aur jab prices badhne lagte to wo isse profit kamata aur traders ko ek chhota sa Commission bhi de deta.
Pump and dump scheme ki help se wo lesser known aur small market capitalization wali company ke khareeb 20% se 30% tak ke shares khareed leta tha, isse shares me paisa pump karna kehte hai. Aisa karne se us company ke shares ke prices badh jate. Jaise hi share prices badhte the, aur bhi investors us company ke shares khareedne lagte. Ek baar jab shares ki Keemat aasmaan chhu jaati to wo apne saare ko dump kar deta yaani bech deta tha.
Usne kayee major stocks me invest kiya jaise ki Aftek Infosys, DSQ software, Satyam computers, Zee telefilms, Himachal Futuristic, Silverline technologies, etc. Usne Zee telefilms ke shares ki Keemat ₹127 se sidha ₹2330 tak pohocha di thi aur Visual Soft ki kuch hi samay me ₹625 se sidha ₹8448. Yahaan tak ki usne kuch stocks ki Keemat par kareeb 200% tak ka return paya.
Itne bade magnitude par trade karne ke liye kissi ko bhi bohot se paison ki zarurat hogi. Ketan Parekh ne itne saare paison ka intezam Payment Order ki help se kiya. Payment order ek tarah ka prepaid financial instrument hota hai jo ki ek bank issue karta hai customer se small advance milne ke baad. Aur in payment orders ko kisi bhi financial institution ke paas collateral ki tarah rakh ke aasani se loan liya jaa sakta hai. Ye ek cheque ki tarah hota hai bas difference ye hai ki cheque me customer ke account se paise jaate hai aur agar uske account me paise nahi hai to bank ki koi liability nahi banti payment karne ki. Lekin Payment order me bank ki liability ban jaati hai.
Parekh ne apne loans me hera feri karne ke liye Madhavapura Mercantile Commercial Bank (MMCB) ke shares khareede. Fir usne ek bohot bade amount ka loan liya MMCB se payment orders ke form me, aur jaise hi share prices badhne lage usne un shares ko HCFL aur UTI jaise financial institutions ke paas girvi rakh kar aur paisa uthaya. Lagbhag 1.3 billion pay orders issue kiye gaye the. Usne ye saare pay orders Bank of India ke stock exchange branch ko dekar unse funds liye. Saal 2000 ke starting tak ye sab chalta raha. Parekh ki total loan amount kareeb 750 million thi. Yahaan tak ki kayee companies ke promoters aur owners usse kaafi bada amount diya karte the apni company ke share prices badhane ke liye.
1st March 2001 ko Indian Union budget present hone ke turant baad BSE sensex 176 points se crash kar gaya. Jiski wajah se investors ko kareeb ₹2000 crore se bhi zada ka nuksan hua tha. Sensex ke itni buri tarah girne ke baad NDA government ne turant ek inquiry baithayi, market reactions ko investigate karne ke liye. Jald hi baaki kahaanio ki tarah Ketan Parekh ke master plan ka bhi anth aa gaya. RBI aur SEBI ko ye suspect karne me deri nahi lagi ki usne jo profits kamaye hai ya fir jo loans liye hai unme kuch unusual baat hai. Iske baad RBI ne wo saare pay orders clear karne se mana kar diya jo Parekh ne Bank of India (BOI) ko collateral ke taur pe diya tha, kyunki wo saare pay orders bounce kar gaye the. Payment orders bounce hone ki wajah se bank of India ko 137crore ka loss hua tha. Jab Bank of India ne ketan Parekh se paise return karne ko kaha to usne sirf 7 crore hi wapas kiye. fir bank ne uspe 130crore ka fraud case file kiya. Aur turant Ketan Parekh ke against investigation shuru kar di gayi.
Usi dauran investors ne K-10 stocks ko short-sell karna shuru kar diya tha kyunki price badhne ki wajah se ye shares over valued ho Gaye the. Jab institutional investors aur retail investors shares bechne lage to Panic me aake, Ketan Parekh ne turant apne K-10 ki ownership ko bech diya, specially do entities ke shares ko GTB bank aur MMCB bank. Usne Kolkata stock exchange me regular trading hours ke baad Shaam 5 baje se lekar aadhi raat tak bade scale par share dump kiye. Jiski wajah se agale hi din stock market crash ho gaya. Insurance companies, large institutional investors, aur mutual fund Companies ko bohot bade scale par loss hua.
Is scam ke bahar aane ke baad un saare shares ki prices me bhari giravat aayi jinhen ketan Parekh ne manipulate kiya tha. Global Telesystems ke shares ki Keemat ₹3100 se sidha ₹120 pe aa gayi thi aur HFCL ke share prices ₹2300 se sidha ₹90 tak gir gaye the. Jinhone K-10 stocks me invest kiya tha unhen bohot nuksan hua. Ketan Parekh ki wajah se Calcutta stock exchange me payment crisis hua tha jisse Calcutta stock exchange ko 100 crore ka nuksan hua.
Ketan Parekh ko March 2000 me CBI ne arrest kar liya tha, aur 53 days tak police custody me rakha gaya. Use 2017 tak 15 saalo ke liye stock market me trade karne se ban kar diya gaya tha aur ek saal ki jail ki saza bhi sunai gayi. Dekhte hi dekhte Ye Indian stock market ki history me sabse bada fraud ban gaya. Is scam ke baad SEBI ne kayee naye rules aur regulations banaye. Badla system aur circular trading jaisi cheezo ko puri tarah se ban kar diya gaya. Yahaan tak ki sirf BSE aur NSE ke madhyam se collateralised loans allow kiye jaane lage.
Halanki Parekh ko stock trading se ban kar diya gaya tha, lekin 2009 me SEBI investigations me pata chala ki Parekh ke behalf par kayee companies aur log stock market me trade kar rahe hai. Aur wo unke jariye aaj bhi market me active hai. SEBI ne aisi total 26 Companies ko ban kar diya jo ki Parekh ke orders par trade kar rahi thi. March 2014 me Parekh ko Mumbai ke special CBI court me fraud aur cheating ke liye doshi tehraya gaya aur do saal ki saza sunai gayi.
