Many of the connected clients in the case were acting as conduits for Ketan Parekh's funds, said SEBI, attributing this to an observation contained in an income-tax investigation into Ketan Parekh's activities. At least five such clients were related to Shirish Maniar.
Image: Disgraced stock broker Ketan Parekh is led into a train at Bombay's railway station by Central Bureau of Investigation officers on August 10, 2001. Parekh, the main suspect in a massive stock market scam was taken to Ahmedabad where he faces charges of fraud, after the court rejected his bail petition.
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