Groundbreaking Scams Of India

    Scam
    Scam

    Scam/ scandal are the common words that we usually heard in India. Some of the biggest and popular Corruption scams in India. There are a number of corruption scams, here in this post we are going to discuss some selective scams that have been most damaging. In most of the cases, numbers of cases are still pending in Indian Courts.Generally, all and sundry is honest and hard working and diligent, but it is the people with powers or in charge of the system making our economy more dependent whose growth is a downward slope, be it a small or big scam, means the act of fraudulent scheme or action. However, there are some scams that may really surprise you with their size.

    Coins
    Coins

    Telgi Scam – 2002
    Abdul Karim Telgi had mastered the scam by forgery in printing duplicate stamp papers and sold them to banks and other institutions. Every scam must have something in it to make money out of it in an unethical way and Telgi scam had all the suspense and drama that needed in a scandal. The huge amount estimated was above Rs. 20000 crores. The Telgi had a support from government departments who were responsible for the production and sale of high-security stamps.

    2G Spectrum Scam – 2008
    According to the CAG, former Telecom minister, A. Raja has avoided standards and norms at every level a number of scams happened in India, but this scam involves the process of allocating unified access service licenses. The amount of scam estimated was this approximately Rs.1.76-lakh crore. A Raja carried out the uncertain or doubtful 2G license awards in 2008. Somehow, this is the biggest scam in India if we consider the inflation. The cases are still in the process against many people comprising M. K. Kanimozhi, A. Raja, and also several telecommunication companies.

    Satyam Scam – 2009
    The Satyam Computer Services has done such a scam that had shattered the peace and calm of Indian shareholder community and investors and also a huge loss that can not be compensated the biggest fraud in corporate history is Satyam scam was estimated approximately Rs. 14000 crore. The former chairman of company Ramalinga Raju had fudged the books of accounts for decades. Ultimately, the company was taken over by the Tech Mahindra that has done a good job in reviving the Satyam brand.

    Commonwealth Games Scam – 2010

    Commonwealth Games Scam
    Commonwealth Games Scam

    Indian scandal in Commonwealth Games, the estimated approximately Rs. 70000 crore which was shown as spent on the Commonwealth Games, however, in reality, just half the amount was spent on Indian sportspersons. The Central Vigilance Commission had taken the responsibility of investigation of the alleged corruption of various projects related to Commonwealth Games has found differences in tenders such as willful delays in execution of contracts, payment to non-existent parties, over-inflated price and misappropriation of funds and mismanagement in the purchase of equipment.

    Indian Coal Allocation Scam – 2012
    Coal allocation scam happened under Manmohan Singh government and came out in the year 2012. This scam is in regards to Indian Government’s allocation of nation’s coal deposit to PSU’s and private companies. The basic reason of this particular scam was that inappropriate allocation of Coal deposits by Government without utilizing the competitive bidding, the estimated amount of the coal scandal was approximately Rs. 1.86 Lakh crore. Although, deposits of coal were allocated arbitrarily(on the basis of random choice).

    Wakf Board Land Scam – 2012
    Anwar Maniapddy, the chairman of Karnataka State Minorities Commission submitted a report on March 2012 allegation of a scam of 27,000 acres of land, that was illegally managed and controlled by Karnataka Wakf Board. The value of land which was misrepresented was estimated approximately 1.5 to 2 lakh crore rupees. It was misrepresented that a Muslim charitable trust, donated to poor and underprivileged people of the Muslim community but according to the report it was around 50 % of the land owned by Wakf board was misrepresented by Board members and Politicians along with real estate. The investigations are still in-process.

    Stop Corruption
    Stop Corruption

    To sum up, India has a huge list of the scams that has been noticed time to time and most of them are still under investigation. Some of the other popular scams are the coal-gate scam, Chara scam, IPL scam etc. people involved in various scams are Vijay Mallya, Lalit Modi, Suresh Kalmadi. There must be regular and proper check for scandals to eradicate corruption from its roots for the safety and security of our own country India.

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