SC grants bail to Parekh

The Supreme Court granted bail to stock broker Ketan Parekh and others on Monday in the Canfina Mutual Fund scam case. Parekh was held guilty in the case related to the 1992 stock scam, in which Canbank Financial Services was duped of over Rs 47 crore. Justice V M Kanade, heading the special court for trial of offences relating to transactions under the Securities Act, held them guilty of criminal conspiracy, misappropriation of funds and cheating. The court, however, had extended their bail and suspended sentence until 31st July to enable them to file appeals in the Supreme Court.

"Loved reading this piece by SANJAY DIXIT?
Join LAWyersClubIndia's network for daily News Updates, Judgment Summaries, Articles, Forum Threads, Online Law Courses, and MUCH MORE!!"

Join our Telegram group

Join our Whatsapp group