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How  Ketan Parekh's business turn into one of the biggest financial scam of India Ketan Parekh was a chartered accountant and he was the one of the intern of Harshad Mehta. His only dream was to rule the stock market of India, so he dicided to join Harshad Mehta's firm to learn some tricks to deceive the Investors. Before executing his master plan he first used the pump and dump scheme to raise some money which was going to help him to execute his master plan.  What is pump and dump scheme He purchased major shares (20-30) % of new companies for increasing thier price to a certain level just to attract the other investors. When the price was too high, he was would sell his stake in those companies, and collect huge profits from of those. So first he pumpee the share price by purchasing them and then dumped those share by selling them.  After Ketan Parekh scam, the laws of stock market amended in every aspect. And niw pump and dump scheme is illegal in stock market.  ...

  Why Anil Ambani failed to pay debts   How Anil Ambani become billionaire to Millionaire Failure story of Anil Ambani In 2008 Anil Ambani was the 6th richest person in the world. At that time Anil Ambani's name was equated with a successful, visionary and future of India's business growth. But sadly after 12 year words like 'failure' and 'downfall' often come with his name. Anil Ambani was so rich that he used to take helicopter rides from his home in south Mumbai to Navi Mumbai. Which is just a few kilometres away from his home in Mumbai. He was often seen with famous bollywood celebrities like Amithabh Bachchan. In 2005 he entered the entertainment sector. He acquired 'adlabs' films. In 2008 this had over 700 multiplex screens all over India. He also went global as he produced the Oscar winning movie 'Lincoln'. The major reason behind his downfall is his aggressive approach towards business investment. He would invest in different business sec...