Ketan's new victims

While Ketan Parekh's is busy amassing wealth, the CBI is clogging courts with relatively meaningless cases. Six years later, it has charged six SBI Mutual Fund (SBIMF) employees of conniving with Ketan Parekh to buy the shares of Padmini Technologies at inflated prices. Most of them will probably have their careers irrevocably destroyed, because our extraordinary justice system will ensure that there is no quick trial and verdict. While some top officials of SBIMF were indeed known to be Parekh's buddies, it is unclear if others were at all culpable. One mutual fund manager, Sandeep Sabarwal, now 34, has an excellent and proven track record of earning high returns for his investors. In another action related to the scamster's deadly influence, UTI has sacked three officials in connection with the high-profile Cyberspace Infosys scam. Here too, the promoters of Cyberspace Infosys, who pumped his company's shares and dumped them on UTI, have been left untouched after high drama that had surrounded their disappearance and arrest six years ago. There is no also further action against the former UTI Chairman P Subramanyam, who presided over the disastrous downturn in UTI that led to one death and several broken lives. It is said that all people are equal before the majesty of the law, but that happens only after the investigating agencies decide who will be dragged to court and put on trial.

Ketan's other companies

While Padmini Polymers is making news because of the CBI case, what about Shonkh Technologies? This company's shares too was ramped up by Ketan Parekh along with Padmini Polymers. In fact, it was more closely identified with the scamster, who once held over 20% of its equity. With an 'International' tag attached to its name, Shonkh has turned into a major proponent of e-governance. The market grapevine now has it that the company is planning on selling its so-called 'smart card' business. The likely buyer is also a front company floated by another notorious market operator. It has also remained totally unaffected by its Ketan Parekh connection and ironically enough, bags manages to get government contracts for e-governance and smart card operations!