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Foundation

Case Study: The Ketan Parekh Scam and Market Manipulation Tactics

A ground-up case study of the Ketan Parekh scam, the stock manipulation scheme that powered the 1999 to 2000 tech rally on Dalal Street and collapsed in March 2001. Meet the chartered accountant turned market operator, the K-10 stocks he ramped up, and the money behind it, from bank pay orders to Madhavpura Mercantile Co-operative Bank. Learn exactly how circular trading, badla and cross-exchange settlement were used to rig prices, how the crash spread to Global Trust Bank and UTI's US-64, and how SEBI rebuilt the market afterwards with rolling settlement and surveillance. Finish with a practical checklist for spotting the same manipulation signs in stocks on NSE and BSE today.

MODULES
4
DURATION
4 Hours
TRACK
Macro & Markets
Access Level
LEARNER
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Curriculum Breakdown

Chapter 1: Setting the Scene

2 Lessons
▶
Who Was Ketan Parekh? The Operator Dalal Street Followed9 min read
Preview
▶
The 1999 to 2000 Tech Boom and the K-10 Stocks11 min read

Chapter 2: The Playbook

3 Lessons
▶
Circular Trading and Price Rigging Explained12 min read
▶
Funding the Rally: Bank Credit, Pay Orders and Madhavpura Mercantile Co-operative Bank12 min read
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Badla, Weekly Settlement and Playing One Exchange Against Another12 min read

Chapter 3: The Collapse

2 Lessons
▶
The Bear Attack and the March 2001 Crash11 min read
▶
Collateral Damage: Global Trust Bank, Madhavpura and UTI's US-6412 min read

Chapter 4: Aftermath and Lessons

3 Lessons
▶
How SEBI Rebuilt the Market: Rolling Settlement, the End of Badla and Surveillance12 min read
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The Enforcement Trail: Bans, Convictions and a Comeback Case10 min read
▶
Spotting Manipulation Signs in a Stock Today12 min read