TOP 10 CORRUPTION SCAMS IN INDIA.

This is the season of scams and the biggest ever corruption cases in India have been unearthed more recently.So,we decided to dig deep to see which scams were the biggest and most damaging to the Country and its citizens alike.

In our daily life,most of us must have been a witness to or a victim of the corruption thriving in some or the other part of the country.It could be in the form of a taxi driver manipulating the meter to jack-up the reading or a government officer taking bribery to promptly transfer your file to the next department or even yourself offering bribe to a traffic police on breaking a signal.

The 2G spectrum scam involved officials and ministers in the Government of India illegally undercharging mobile telephony companies for frequency allocation licenses, which they would use to create2G subscriptions for cell phones. According to a report submitted by the Comptroller and Auditor General based on money collected from 3G licenses, the loss to the exchequer was 176,379 crore (US$39.16 billion). The issuing of the 2G licenses occurred in 2008, but the scam came to public notice when the Indian Income Tax Department investigated political lobbyist Niira Radia and the Supreme Court of India took Subramaniam Swamy's complaints on record [With Case type:Writ Petition (Civil),Case No:10, Year:2011].[1] The case details of the main PIL filed with the supreme court is Type:Writ Petition (Civil),Case No:423, Year:2010.[2]

In 2008, the Income Tax department, after orders from the ministry of Home and the PMO, began tapping the phones of Niira Radia. This was done to help with an ongoing investigation into a case where it was alleged that Niira Radia had acted as a spy.[3]

2G SPECTRUM SCAM.

The Hawala case to the tune of $18 million bribary scandal, which came in the open in 1996, involved payments allegedly received by country’s leading polititions through Hawala brokers. From the list of those accused also included Lal Krishna Advani who was the Leader of opposition

The Hawala Scandal

Thus, for the first time in Indian politics it gave a feeling of open loot all around the public, involving all the major political player being accused of have accepted bribes and also alledged connection about payments being channelled to Hizbul Mujahideen militans in Kashmir.

The Bofors Scandal is know as te hallmark of Indian corruptions. The Bofors scam was a mojor corruption scandal in India in 1980’s ; When the then PM Rajiv Gandhi and several others including a powerful NRI family named the Hindhujas, were accused of receiving kickbacks from Bofors AB for winning a bid to suppy India’s 155 mm field howitzie.

Bofors Scams

The Swidish State Radio had brodcastasted a startling report about an undercover operation carried out by Bofors, Swiden’s biggest arms manufacturer, were by $ 16 m were allegedly paid to members of PM Rajiv Gandhi’s Congress

Most of all the Bofors Scam had a strong emotion apeal because it was a scam related to defence services and India’s security intrests.

If u haven’t heard of Bihar’s fodder Scam of 1996, you might still be able to recognise it by the name of “Chara Ghotala, “ as it is popularly know in the vernacular language

In corruption scandal worth Rs. 900 Cr and unholy nexus was traced involved in fabrication of”vast herds of fictious lifestock” for which fodder, medicine and animal husbandry equipment was suppousely procured.

The fodders scam

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

Harshad mehta & ketan Parekh Stock Market Scam

The list of scandal in India is not just ending and becoming grave by every decade. Most of us are aware of the recent scam in IPL and embezzlement with respect to bidding for various franchisees. The scandal already claimed the porfolios of two big wings in the form of Shahsi Tharoor and former IPL chief Lalit Modi.

IPL Scam

The central vigilance commission, involved in probing the alleged corruption in various common wealth games – related projects, has found discrepancies in tenders- like payments non – existent parties, will – full delays in exicution of contracts, over – inflated price and bungling in purchase of equipment through tendering- and misapprotiation of funds.

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 Cr spent on the games, only half the said amount was spend on Indian sports persons.

COMMONWEALTH GAMES 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 The tentacles of the fake stamp and the stamp paper case had penetrated 12 states and was estimated at a whooping Rs. 20000 Cr plus.

Telgi Scam

The Telgi clearly had a lot of support from the government dipartments that were responsible for the prodution and sale of high security stamps.

The Scam at Satyam Computer Services is something that will shatter the peace and tranquillity of Indian invester and share holder community beyond repair. Satyam is the biggest frod in the corporate history to the tune of Rs. 14000 Cr .

The company’s disgraced former Chairman Ramalinga Raju kept everyone in the dark for a decade by fudging the books of accounts fro several years and inflating revenues and profit figures of Satyam.

Stayam Scam

Finally, the company was taken over by the Tech Mahindra which has done wonderfully well to revive the brand Satyam.

BYK.MEENA HARIKA

K.PRIYANKAROHIT SAIABHISHEK

PRANAV BHATTAD.