I am not the main conspirator: Parekh

NDTV caught up with Ketan Parekh soon after the Bombay High Court sentenced him to one-year rigorous imprisonment. He denied being the main conspirator in the scam and will file an appeal in the Supreme Court. Here is what he said exclusively to NDTV:
NDTV: NDTV is the first to get Ketan Parekh on the line and talk to him. He has never spoken to the media before. Mr Parekh, the judgement today was in unanimity when it comes to Canara Bank officials. So, what is your defence. Even you got one year imprison. How can you say that you are not the main conspirator?
Ketan: What I have to say here is that there were total three transactions in the case. We were involved in only one leg of the case. We received money from Canbank Mutual Fund and we delivered the shares. The shares were duly transferred to mutual fund’s name. The only thing that was ultimately with us was Rs 5 lakh of brokerage in the whole transaction. What has happened is that other brokers may have transacted in which we have no role to play. Because ultimately, we received the money and delivered the shares. That’s all.
NDTV: But Mr Parekh, looking at the way the case has been handled as far as the verdict is concerned, why do you think your punishment is in line with other Canara Bank officials. If what you are saying is true, then there should be some distinguishing factor in the judgement that was handed out?
Ketan: No, we have not received a copy of the judgement. So, definitely I can’t comment on that and I think that the honourable judge in his wisdom has taken this decision. Once we get the copy, then we will surely file an appeal in the Supreme Court.
NDTV: But the clarification that you gave earlier that the five lakh shares stored in your name, you delivered the shares, the money has been delivered as well, are you saying that the other conspirators have not done the same, and the fact that you have not done the same and so you don’t deserve the judgement?
Ketan: No, I would not like to comment on what others have done. What I say is that what we have done in this transaction, I mean the other channels are projecting me as the main conspirator. We had done only one transaction, and in one transaction we have received money from the mutual fund and we have duly delivered the shares. The shares were duly registered in the name of the mutual fund. Beyond that, our role was not there in any manner in the transaction. That’s what I want to comment.
Shivnath Thukral
Tuesday, April 01, 2008 (New Delhi)
NDTV.com