The Hindu Business Line : SEBI cancels regn of Ketan Parekh firms

SEBI has cancelled the broking registration of stock broking firms associated with Mr Ketan Parekh. The market regulator has already debarred Mr Ketan Parekh from the securities market for 14 years.

The broking firms whose registration has been cancelled are — N H Securities, Classic Shares and Stock Broking Services, Triumph Securities, V.N. Parekh Securities and KNP Securities. The registration granted to Triumph International Finance has also been cancelled, a SEBI release said on Thursday.

The decision follows the recommendation of SEBI's enquiry officer for cancellation of their registration.

The enquiry was pursuant to the findings of investigations conducted by the regulator in the wake of excessive volatility in the index movement of stock exchanges during mid-February to mid-March 2001.

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