The suspicion of the detective department of Kolkata Police that former Calcutta Stock Exchange (CSE) president Kamal Parekh misued his office was vetted by the Securities and Exchange Board of India (Sebi).
Disclosing this, top police sources say the detective department investigating into the March 2001 payment crisis found evidence of Parekh releasing margin money to Biyani Securities a day before the broking firm was declared defaulter.
They claim that Sebi vide its letter to the investigating agency confirmed Parekh
