Madhavpura Bank: Finally facing liquidation

KP had illegally availed of over Rs800 crore from the banks in cahoots with the chairman and his son. Soon after, SEBI passed an order barring KP from the capital market for 14 years.

In February 2012, the office of the custodian, appointed under the Special Courts Act of 1992, filed a petition seeking custody of all the money paid by Ketan Parekh (KP) to Bank of India and Madhavpura Mercantile...

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