India's markets regulator on Thursday alleged that former stockbroker Ketan Parekh and 21 others made millions of dollars in illegal trade gains by using inside information from an unnamed overseas entity.

Sebi has barred Ketan Parekh and two others from securities markets for involvement in a front-running scheme that generated illegal gains of ₹65.77 crore. They are also directed to impound these unlawful gains and are restrained from associating with any registered intermediaries.

A SEBI probe uncovered a front-running scam involving ex-broker Ketan Parekh, Singapore-based trader, and 20 others, exploiting non-public information

Ketan Parekh sent trade instructions through WhatsApp chats or calls and his contact number(s) was saved in the devices of front runners as Jack, Jack New, Jack Latest New, Boss.

SEBI barred Ketan Parekh, Rohit Salgaocar, and others from Indian capital markets for a front-running scam, impounding ₹65.77 crore. Parekh, notorious for the 2001 stock scam, faces fresh restrictions alongside key associates.

Regulator has barred the infamous stock operator for front-running trades pertaining to a US based FPI, directed disgorgement of illegal gains of Rs 66 crore

SEBI exposes a ₹65.77 crore front-running scam involving Ketan Parekh and Rohit Salgaonkar, where confidential trade details of a US-based fund house were exploited for unlawful profits.