Share broker Ketan Parekh absconding

The director of Panther Fincap and Management Services Limited, who was convicted in 2008 for his role in circular trading (manipulation) in the stock exchange in the late 90s, has now been declared absconding by a Special SEBI Court. A public notice regarding the same was issued on October 12 signed by Special Judge SEBI Special Court.

The notice reads that Ketan Parekh is suspected to have committed the offense punishable under section 24(2) of the Securities Exchange Board of India Act, 1992, and a warrant of arrest to his addresses have returned.

The notice signed by Special Judge, reads, "Ketan Parekh cannot be found and whereas it has been shown to my satisfaction that the said accused Ketan Parekh has absconded or is concealing himself to avoid the service of the said warrant."