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Regular-article-logo Tuesday, 05 August 2025

PAREKH LINKED TO HARSHAD'S MISSING SHARES 

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OUR BUREAU Published 21.12.01, 12:00 AM
Mumbai, Dec. 21 :    Mumbai, Dec. 21:  The Central Bureau of Investigation (CBI) today threw an interesting twist to the Mystery of the Missing Shares by claiming that there was a direct link between the two biggest rogue traders on the Indian stock markets - Harshad Mehta and Ketan Parekh. In a remand application filed before the special court seeking extension of the judicial custody of Harshad Mehta and his brothers Sudhir and Ashwin, the CBI said Parekh and Hiten Dalal, another discredited stockbroker, had allegedly disposed of some of the shares held by Harshad Mehta group that the Big Bull claimed were stolen or had gone missing after the securities scam of 1992. Parekh was the bull operator who ramped up shares on the bourses early this year using funds illegally obtained from Madhavpura Cooperative Bank before the stock market collapse in March. The court remanded Harshad Mehta and his brothers to judicial custody till January 14 on the charge of illegally selling in the market the shares that had already been attached by the court receiver. According to CBI, Sameer Jani and Manish Shah, who were believed to have disposed of the shares belonging to the Harshad Mehta group, have been traced and questioned. Their statements have been recorded and steps taken to procure evidence from police records to establish their involvement in the crime.    
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