Search the Internet          Tips  Sites: Finance, Investment

Search of Ketan's premises reveals only Rs 175,000

The government said on Tuesday that the search at Ketan Parekh's business and residential premises on March 23 in connection with the stock market scam revealed only Rs 175,000 of which Rs 60,000 was in cash and the remaining Rs 115,000 as jewellery.

In a written reply, Minister of State for Finance, Gingee N Ramachandran, told the Rajya Sabha that the Income Tax Department conducted search operations at the business and residential premises of Parekh, Nirmal Bang, Anand Rathi, Rakesh Jhunjhunwala, Shankar Sharma and R S Damani.

The highest amount was recovered from Rathi at Rs 2.05 million followed by Damani at Rs 1.21 million whereas no money could be recovered from Nirmal Bang.

YOU MAY ALSO WANT TO READ:
The Capital Market Crisis

Tell us what you think of this report