The Saradha Group financial scandal was a major financial scam and political scandalcaused by the collapse of a Ponzi scheme run by Saradha Group, a consortium of over 200 private companies that was believed to be running collective investment schemes popularly but incorrectly referred to as chit fundsThe group collected around 200 to 300 billion […]
The Bhawal case was an extended Indian court case about a possible impostor who claimed to be the prince of Bhawal, who was presumed dead a decade earlier.Apparent first death and cremationRamendra Narayan Roy was one of the kumars (“princes”) of the Bhawal Estate, a large zamindar in Bengal in modern-day Bangladesh. He was one
Mobile and allied networks work on specific frequencies allotted to each operator in a band of frequencies known as a spectrum. . Any particular mobile network will operate only on the frequencies it’s been allotted. The Government is responsible for such allocation. One such allocation in the 2G network spectrum took place in India in
Top officials of BEML Limited, a Bangalore-based company, and the defence ministry have siphoned off at least Rs 750 crore in bribes and commissions over the past 14 years in the purchase of components for Tatra trucks, backbone of the army’s artillery and transportation wings.The Indian Army uses Tatra all-terrain vehicles to mount guided missile
Another scam in a history of Indian. Coal mining controversy is major fraud in 2012, which involved Rs 1,86,000 Cr loss to exchequer . This is serious allegation against Prime Minister of India Dr Manmohan Singh who is in a serious scrutiny of the CAG which leads to protest against the leading political party NCP
On 19 March 1987, a group posing as CBI officers executed the fake income tax raid on the Opera House branch of Tribhovandas Bhimji Zaveri (TBZ) in Mumbai. This case remained unsolved.BackgroundThe person posing himself as Mon Singh or Mohan Singh had placed a classified advertisement in the 17 March issue of The Times of
Uttar Pradesh food grain scam took place between years 2002 and 2010, in Uttar Pradesh state in India, wherein food grain worth Rs 350 billion (US$5.6 billion), meant to be distributed amongst the poor, through Public Distribution System (PDS) and other welfare schemes like Antyodaya Anna Yojana (AAY), Jawahar Rozgar Yojana and Midday Meal Scheme
The 1971 Nagarwala scandal was a fraudulent act in which Rustom Sohrab Nagarwala convinced Ved Prakash Malhotra to withdraw 6 million rupees from the branch of the State Bank of India where he was the head cashier.CrimeOn 21 May 1971, Nagarwala called Malhotra at the State Bank of India, and imitated then Prime Minister Indira
Palm Olein Import Scam (Palm Olein Case, Palm Olein Corruption Case, 1991-92) are the alleged irregularities in the import of palm olein by K. Karunakaran lead United Democratic Front Government of the state of Kerala, India through the Power and Energy Limited Company. The Kerala State Government selected Power and Energy Limited arbitrarily without inviting
The jeep scandal in 1948 was first major corruption case in independent India. V.K. Krishna Menon, the then Indian high commissioner to Britain, ignored protocols and signed a Rs 80 lakh contract for the purchase of army jeeps with a foreign firm.Corruption allegationsV. K. Krishna Menon, then the Indian high commissioner to Britain, bypassed protocol
In early 2013, an Indian parliamentary investigation began into allegations of bribery and corruption involving several senior officials and helicopter manufacturer AgustaWestland surrounding the purchase of a new fleet of helicopters. The scandal has been referred to as the Chopper scam, or Choppergate by elements of the media and popular press.Several Indian politicians and military
Indian Railway Minister Pawan Kumar Bansal’s nephew, Vijay Singla, was arrested in Chandigarh on 3 May 2013 by sleuths of India’s Central Bureau of Investigation for allegedly accepting a bribe of 9 million (9,000,000) rupees from Narayana Rao Manjunath and Sandeep Goyal on behalf of Mahesh Kumar, a member of the Indian Railway Board, in
The crucial mechanism through which the scam was effected was the ready forward (RF) deal. The RF is in essence a secured short-term (typically 15-day) loan from one bank to another. Crudely put, the bank lends against government securities just as a pawnbroker lends against jewellery. The borrowing bank actually sells the securities to the
The Adarsh Housing Society is a posh, 31 storey building constructed on prime real estate in Colaba, Mumbai, for the welfare of war widows and personnel of India’s Ministry of Defence. Over a period of several years, politicians, bureaucrats and military officers allegedly conspired to bend several rules concerning land ownership, zoning, floor space index
The cash-for-votes scandal was a political scandal allegedly masterminded by then Opposition Party Bharatiya Janata Party politician Sudheendra Kulkarni in which the United Progressive Alliance, the majority-holding parliamentary-party alliance of India led by Sonia Gandhi, allegedly bribed Bhartiya Janta Party MPs in order to survive a confidence vote on 22 July 2008. The vote in
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