Latest Top Scams in India 2016 2017 Black money news

Latest Top Scams in India 2015

Latest Top Scams 2016 Top 10 Corruption Scams in our Latest Top Scams in India 2015 Black money news 1947 page we define 2G Spectrum Scam , Commonwealth Games Scam , Telgi Scam and 2014-2015 news will be for Black Money, for exam syllabus it is necessary and essay/paper on Black money may ask

Latest Top Scams in India are--

1) 2G Spectrum Scam

  • We have had a number of scams in India; but none bigger than the scam involving the process of allocating unified access service licenses. 
  • At the heart of this Rs.1.76-lakh core worth of scam is the former Telecom minister A Raja – who according to the CAG, has evaded norms at every level as he carried out the dubious 2G license awards in 2008 at a throw-away price which were pegged at 2001 prices.

2) Commonwealth Games Scam

  • Another feather in the cap of Indian scandal list is Commonwealth Games loot.
  • Yes, literally a loot! Even before the long awaited sporting bonanza could see the day of
  • light, the grand event was soaked in the allegations of corruption. 
  • It is estimated that out of Rs. 70000 crore spent on the Games, only half the said amount was spent on Indian Sportspersons.

3) Telgi Scam

  • As they say, every scam must have something unique in it to make money out of it in an unscrupulous manner- and Telgi scam had all the suspense and drama that the scandal needed to thrive and be busted.
  • Abdul Karim Telgi had mastered the art of forgery in printing duplicate stamp papers and sold them to banks and other institutions. 
  • The tentacles of the fake stamp and stamp paper case had penetrated 12 states and was estimated at a whooping Rs. 20000 crore plus. 
  • The Telgi clearly had a lot of support from government departments that were responsible for
  • the production and sale of high security stamps.

4) Satyam Scam

  • The scam at Satyam Computer Services is something that will shatter the peace and tranquillity of Indian investors and shareholder community beyond repair. 
  • Satyam is the biggest fraud in the corporate history to the tune of Rs. 14000 crore.
  • The company’s disgraced former chairman Ramalinga Raju kept everyone in the dark for a decade by fudging the books of accounts for several years and inflating revenues and profit figures of Satyam. 
  • Finally, the company was taken over by the Tech Mahindra which has done wonderfully well to revive the brand Satyam.

5) Bofors Scam

  • The Bofors scandal is known as the hallmark of Indian corruption. 
  • The Bofors scam was a major corruption scandal in India in the 1980s; when the then PM Rajiv
  • Gandhi and several others including a powerful NRI family named the Hindujas, were accused of receiving kickbacks from Bofors AB for winning a bid to supply India’s 155 mm field howitzer.
  • The Swedish State Radio had broadcast a startling report about an undercover operation carried out by Bofors, Sweden’s biggest arms manufacturer, whereby $16
  • million were allegedly paid to members of PM Rajiv Gandhi’s Congress.

6) The Fodder Scam

  • If you haven’t heard of Bihar’s fodder scam of 1996, you might still be able to recognize it by the name of “Chara Ghotala ,” as it is popularly known in the vernacular language.
  • In this corruption scandal worth Rs.900 crore, an unholy nexus was traced involved in fabrication of “vast herds of fictitious livestock” for which fodder, medicine and animal husbandry equipment was supposedly procured.

7) The Hawala Scandal

  • The Hawala case to the tune of $18 million bribery scandal, which came in the open in 1996, involved payments allegedly received by country’s leading politicians through hawala brokers. 
  • From the list of those accused also included Lal Krishna Advani who was then the Leader of Opposition.
  • Thus, for the first time in Indian politics, it gave a feeling of open loot all around the public, involving all the major political players being accused of having accepted bribes and also alleged connections about payments being channelled to Hizbul Mujahideen militants in Kashmir.
8) IPL Scam

  • Well, I am running out of time and space over here. 
  • The list of scandals in India is just not ending and becoming grave by every decade. Most of us are aware about the recent scam in IPL and embezzlement with respect to bidding for various franchisees.
  • The scandal already claimed the portfolios of two big-wigs in the form of Shashi Tharoor
  • and former IPL chief Lalit Modi.
9&10) Harshad Mehta & Ketan Parekh Stock Market Scam

  • Although not corruption scams, these have affected many people.
  • There is no way that the investor community could forget the unfortunate Rs. 4000 crore Harshad Mehta scam and over Rs. 1000 crore Ketan Parekh scam which eroded the shareholders wealth in form of big market jolt.

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