Ketan Parekh is trading in dozens of stocks, according monthly intelligence reports. Top ministry officials have been getting these reports regularly. But why are they sitting idly, and why is SEBI keeping mum?

Ketan Parekh has been banned from trading in securities from December 2003 till 2017, but by all accounts Mr Parekh has been very active in the market all these years.

Most amazingly, the government’s own intelligence wing is regularly tracking his trades and sending the reports to senior-most government officials. These reports are drawn up every month and sent to SS Menon, national security advisor; TKA Nair, principal secretary to the prime minister; KM Chandrashekhar, cabinet secretary; GK Pillai, secretary, ministry of home affairs; and Ashok Chawla, secretary, finance ministry.

Strangely, there has been no regulatory action against Mr Parekh so far, even after his involvement has been widely reported by the media. This raises the question, why top officials of this country who have enormous powers to investigate and harass small businesses and even tax-payers who are senior citizens, are so benign about Mr Parekh’s illegal trading even when they are being briefed every month about his enormous purchases and sales? for more visit: Moneylife.in

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