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CBI files chargesheet against Ketan Parekh

The Central Bureau of Investigation on Friday filed a chargesheet in a Bombay court against stockbroker Ketan Parekh and five others, including three suspended senior executives of the Madhavpura Mercantile Co-operative Bank, in the Rs 1.37-billion pay-order scam case, accusing them of conspiracy, cheating and forgery.

The chargesheet was filed in the designated CBI court against Parekh, Kartik Parekh and Kirti Parekh, all directors in the Ketan Parekh group of companies, besides Ramesh Parekh, then chairman of the Madhavpura Bank, Devendra Pandya, suspended managing director of the bank and J B Pandya, suspended branch manager of the Mandvi, Bombay branch of the bank, CBI sources said.

All the accused were charged with conspiracy, cheating, forgery, using forged papers and presenting them as genuine documents, they said.

CBI's Bank and Security Fraud cell in Bombay had registered the case against them on March 30.

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