The Securities and Exchange Board of India (SEBI) has opposed an application filed by Ketan Parekh — former stock market operator behind the 2000-2001 securities scam — to travel to multiple countries over four months. Citing Parekh’s “history of misusing” foreign travel permissions to engage in fraudulent trades through WhatsApp groups, the market regulator has alleged a “sinister motive” to avoid surveillance, court proceedings and “settle in a foreign country” to execute plans which will affect the country’s economy and investors.

Parekh, who was debarred from the stock market for 14 years for his role in the 2000-2001 scam, is facing criminal charges before a special SEBI court in Mumbai . He had sought the court’s permission to travel to the UK, UAE, Singapore, Thailand, Sri

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