जिन्हे नाज है हिन्द पर वो आ जायें --- jinhe-naz-hai-hind-par-wo-aa-jayen: April 2015

Republic Of Scams

Total Scam Money (approx) Since 1992:

Rs. 73,00,000 Cr.
(73 Lakh Crores)

Hard to digest ?
Just check the below given details

1992 -Harshad Mehta securities scam Rs 5,000 cr

1994 -Sugar import scam Rs 650 cr

1995 -Preferential allotment scam Rs 5,000 cr
Yugoslav Dinar scam Rs 400 cr
Meghalaya Forest scam Rs 300 cr

1996: -Fertiliser import scam Rs 1,300 cr
Urea scam Rs 133 cr
Bihar fodder scam Rs 950 cr

1997 -Sukh Ram telecom scam Rs 1,500 cr
SNC Lavalin power project scam Rs 374 cr
Bihar land scandal Rs 400 cr
C.R. Bhansali stock scam Rs 1,200 cr

1998 -Teak plantation swindle Rs 8,000 cr

2001 -UTI scam Rs 4,800 cr
Dinesh Dalmia stock scam Rs 595 cr
Ketan Parekh securities scam Rs 1,250 cr

2002 -Sanjay Agarwal Home Trade scam Rs 600 cr

2003 -Telgi stamp paper scam Rs 172 cr

2005 -IPO-Demat scam Rs 146 cr
Bihar flood relief scam Rs 17 cr
Scorpene submarine scam Rs 18,978 cr

2006 -Punjab's City Centre project scam Rs 1,500 cr,
Taj Corridor scam Rs 175 cr

2008 -Pune billionaire Hassan Ali Khan tax default Rs 50,000 cr
The Satyam scam Rs 10,000 cr
Army ration pilferage scam Rs 5,000 cr
The 2-G spectrum swindle Rs 60,000 cr
State Bank of Saurashtra scam Rs 95 cr
Illegal monies in Swiss banks, as estimated in 2008 Rs 71,00,000 cr

2009: -The Jharkhand medical equipment scam Rs 130 cr
Rice export scam Rs 2,500 cr
Orissa mine scam Rs 7,000 cr
Madhu Koda mining scam Rs 4,000 cr"

SC refuses to quash PIL against Mayawati in Taj corridor scam
Orissa mine scam could be worth more than Rs 14k cr

CORRUPTION, MONEY LAUNDERING SCAM, Koda discharged from hospital,
arrest imminent

'A Cover-Up Operation':
"It's a scam involving close to Rs 60,000 crores"
Spectrum scam: How govt lost Rs 60,000 crore

India's biggest scams 1, Ramalinga Raju, Rs. 50.4 billion
India's biggest scams 2, Harshad Mehta, Rs. 40 billion
India's biggest scams 3, Ketan Parekh, Rs. 10 billion
India's biggest scams 4, C R Bhansali, Rs. 12 billion
India's biggest scams 5, Cobbler scam
India's biggest scams 6, IPO Scam
India's biggest scams 7, Dinesh Dalmia, Rs. 5.95 billion
India's biggest scams 8, Abdul Karim Telgi, Rs. 1.71 billion
India's biggest scams 9, Virendra Rastogi, Rs. 430 million
India's biggest scams 10, The UTI Scam, Rs. 320 million
India's biggest scams 11, Uday Goyal, Rs. 2.1 billion
India's biggest scams 12, Sanjay Agarwal, Rs. 6 billion
India's biggest scams 13, Dinesh Singhania, Rs. 1.2 billion

1, Jeep Purchase (1948) :- Free India's corruption graph begins. V. K.
Krishna Menon, then the Indian high commissioner to Britain, bypassed
protocol to sign a deal worth Rs 80 lakh with a foreign firm for the
purchase of army jeeps. The case was closed in 1955 and soon after
Menon joined the Nehru cabinet.

2, Cycle Imports (1951) :- S.A. Venkataraman, then the secretary,
ministry of commerce and industry, was jailed for accepting a bribe in
lieu of granting a cycle import quota to a company.

3, BHU Funds (1956) :- In one of the first instances of corruption in
educational institutions, Benaras Hindu University officials were
accused of misappropriation of funds worth Rs 50 lakh.

4, MUNDHRA SCANDAL (1957):- It was the media that first hinted there
might be a scam involving the sale of shares to LIC, Feroz Ghandhi
sources the confidential correspondence between the then Finance
Minister T.T. Krishnamachari and his principal finance secretary, and
raised a question in Parliament on the sale of 'fraudulent' shares to
LIC by a Calcutta-based Marwari businessman named Haridas Mundhra. The
then Prime Minister, Jawaharlal Nehru, set up a one-man commission
headed by Justice M.C.Chagla to investigate the matter when it becomes
evident that there was a prima facie case. Chagla concluded that
Mundhra had sold fictitious shares to LIC, thereby defrauding the
insurance behemoth to the tune of Rs. 1.25 crore. Mundhra was sentenced
to 22 years in prison. The scam also forced the resignation of
T.T.Krishnamachari.

6, Teja Loans (1960):- Shipping magnate Jayant Dharma Teja took loans
worth Rs 22 crore to establish the Jayanti Shipping Company. In 1960,
the authorities discovered that he was actually siphoning off money to
his own account, after which Teja fled the country.

7, Kairon Scam (1963):- Pratap Singh Kairon became the first Indian
chief minister to be accused of abusing his power for his own benefit
and that of his sons and relatives. He quit a year later.

8, Patnaik's Own Goal (1965) :- Orissa Chief Minister Biju Patnaik was
forced to resign after it was discovered that he had favoured his
privately-held company Kalinga Tubes in awarding a government contract.

9, Maruti Scandal (1974) :- Well before the company was set up, former
Prime Minister Indira Ghandhi's name came up in the first Maruti
scandal, where her son Sanjay Ghandhi was favoured with a license to
make passenger cars.

10, Solanki Exposé (1992) :- At the World Economic Forum, Madhavsinh
Solanki, then the external affairs minister, slipped a letter to his
Swiss counterpart asking their government to stop the probe into the
Bofors kickbacks. Solanki resigned when India Today broke the story.

11, Kuo Oil Deal (1976):- The Indian Oil Corporation signed an Rs 2.2-
crore oil contract with a non-existent firm in Hong Kong and a kickback
was given. The petroleum and chemicals minister was directed to make
the purchase.

12, Antulay Trust (1981) :- With the exposure of this scandal
concerning A.R. Antulay, then the chief minister of Maharashtra, The
Indian Express was reborn. Antulay had garnered Rs 30 crore from
businesses dependent on state resources like cement and kept the money
in a private trust.

13, HDW Commissions (1987) :- HDW, the German submarine maker, was
blacklisted after allegations that commissions worth Rs 20 crore had
been paid. In 2005, the case was finally closed, in HDW's favour.

14, Bofors Pay-Off (1987) :- A Swedish firm was accused of paying Rs 64
crore to Indian bigwigs, including Rajiv Ghandhi, then the prime
minister, to secure the purchase of the Bofors gun.

15, St Kitts Forgery (1989) :- An attempt was made to sully V.P.
Singh's Mr Clean image by forging documents to allege that he was a
beneficiary of his son Ajeya Singh's account in the First Trust Corp.
at St Kitts, with a deposit of $21 million.

16, Airbus Scandal (1990) :- Indian Airlines's (IA) signing of the Rs
2,000-crore deal with Airbus instead of Boeing caused a furore
following the crash of an A-320. New planes were grounded, causing IA a
weekly loss of Rs 2.5 crore.

17, Securities Scam (1992) :- Harshad Mehta manipulated banks to siphon
off money and invested the funds in the stock market, leading to a
crash. The loss: Rs 5,000 crore.

18, Indian Bank Rip-off (1992) :- Aided by M. Gopalakrishnan, then the
chairman of the Indian Bank, borrowers-mostly small corporates and
exporters from the south-were lent a total of over Rs 1,300 crore,
which they never paid back.

19, Sugar Import (1994) :- As food minister, Kalpnath Rai presided over
the import of sugar at a price higher than that of the market, causing
a loss of Rs 650 crore to the exchequer. He resigned following the
allegations.

20, MS SHOES SCAM (1994) :- Anyone who war old enough in 1994 to read
will remember the advertisements- tens of them intriguingly headlined:
'Who is Pawan Sachdeva?' For the record, it was the peak of the public
issued-led advertising boom and the ads were created by the Delhi
branch of Rediffusion. Sachdeva, the promoter of MS Shoes, allegedly
used company funds to buy shares (of his own company) and rig prices,
prior to a public issue. He is alleged to have colluded with officials
in the Securities Exchange Board of India (SEBI) and SBI Caps, which
lead-managed the issue, to dupe the public into investing in his Rs.
699-crore public-***-rights issue. Sachdeva was later acquitted

21, JMM Bribes (1995) :- Jharkhand Mukti Morcha leader Shailendra
Mahato testified that he and three party members received bribes of Rs
30 lakh to bail out the P.V. Narasimha Rao government in the 1993 no-
confidence motion.

22, In a Pickle (1996) :- Pickle baron Lakhubhai Pathak raised a stink
when he accused former Prime Minister P.V. Narasimha Rao and godman
Chandraswami of accepting a bribe of Rs 10 lakh from him for securing a
paper pulp contract.

23, Telecom Scam (1996) :- Former minister of state for communication
Sukh Ram was accused of causing a loss of Rs 1.6 crore to the exchequer
by favouring a Hyderabad- based private firm in the purchase of telecom
equipment. He, along with two others, was convicted in 2002.

24, Fodder Scam (1996) :- The accountant general's concerns about the
withdrawal of excess funds by Bihar's animal husbandry department
unveiled a Rs 950-crore scam involving Lalu Prasad Yadav, then the
state chief minister. He resigned a year later.

25, Urea Deal (1996) :- C.S. Ramakrishnan, MD, National Fertiliser, and
a group of businessmen close to the P.V. Narasimha Rao regime fleeced
the government and took Rs 133 crore from the import of two lakh tonne
of urea, which was never delivered.

26, Hawala Diaries (1996) :- The scandal surfaced following CBI raids
on hawala operators in Delhi in 1991. But it was S.K. Jain's diaries
that had heads rolling.

27, CRB SCAM (1997) :- Another scam forged by greed and discovered
through accident. Chain Roop Bhansali, a smart-talking entrepreneur,
created a pyramid financial empire based on high-cost financing. At its
peak, his Rs. 1,000-crore financial conglomerate had in its ranks a
mutual fund, a financial services company into fixed deposits, and a
merchant bank. That Bhansali knew how to work the system became evident
when he also managed to secure a provisional banking license. Then his
luck ran out. An executive in the State Bank of India Inadvertently
discovered that some interest warrants issued by Bhansali were not
backed by cash. The bubble finally burst in May 1997, but by that time
investors had lost over Rs. 1,000 crore. This was among the first
retail scams in India and it was played out, in smaller avatars, across
the country-especially in the South where financial services companies
promised returns in excess of 20 per cent and decamped with the
principal. Bhansali was arrested for a few weeks and released later on
bail.

28, MEHTA'S SECOND COMING (1998) :- The Big Bull returned to the
bourses. This time, he allegedly colluded with the promoters of BPL,
Videocon International, and Sterile Industries to rig the share prices
of these companies. The inevitable collapse happened sooner than
planned, Harshad Mehta orchestrated a cover-up operation that included
a high=jinks effort by officials of Bombay Stock Exchange to (illegally
) open the trading system in the middle of the night to set things
right, but the damage had been done. SEBI finally passed its ruling on
the scam in 2001, banning the three companies concerned from tapping
the market-BPL, for two years. Mehta was debarred for life form dealing
in Securities Appellate Tribunal (SAT) in October 2001

29, VANISHING COMPANIES SCAM (1998) :- A passing remark heard by then
Finance Minister Palaniappan Chidambaram resulted in a furore over what
was badly-kept secret on Dalal street. Chidambaram was told that
hundreds of companies had disappeared after raising moneys form the
public. An informal scrutiny revealed that perhaps over 600 companies
were missing. Chidambaram ordered a probe by SEBI. The SEBI probe
conducted in May 1998 revealed that while many companies are not traded
on the bourses at least 80 companies that had riseshttp://www.facebook.com/l/9c71bfa6wk8KzEJmyLA5E7vliDw;Rs.330.78crore
were simply missing. Later that year, the Department of Company Affairs
(DCA) was asked to probe and penalize these companies. DCA still
investigating. Investigations continue to this day.

30, PLANTATION COMPANIES SCAM (1999) :- It was as innovative a swindle
as any effected in the world. Savvy entrepreneurs convinced gullible
investors that given the right irrigation and fertilizer inputs, teak,
strawberries, and anything else that could be grown, would grow
anywhere in the country. The promoters could afford to collect money
from investors and not worry about retribution (or returns, for that
matter). For, plantation companies fell under the purview of neither
SEBI nor Reserve Bank of India. Indeed, they didn't even come under the
scope of the Department decided to change things in 1999, enough
investors had been gulled: 653 companies, between them, had raised Rs.
2,563 crore from investors. To date, not many investors have got their
principals back, just another affirmation of the old saying about money
not growing on trees.

31, Match Fixing (2000) :- Mohammed Azharuddin, till then India's
cricket captain, was accused of match-fixing. He and Ajay Sharma were
banned from playing, while Ajay Jadeja and Manoj Prabhakar were
suspended for five years.

32, KETAN PAREKH SCAM (2001) :- Ketan Parekh's modus operandi wasn't
very different from Harshad Mehta's. If Mehta used banker's receipts,
then Parekh used pay orders to ramp up the prices of his favourite
scrips (the K-10). Apart from money form the banking system Parekh also
rerouted money from corporated like HFCL (Rs. 425 crore), and Zee (Rs.
340 crore) to good effect. He was caught when pay-orders issued by
Madhavpura Mercantile Cooperative Bank bounced. Although the total
amount involved in the scam was just Rs. 137 crore, the impact was far
greater.

Apparently, when a bear cartel sensed Parekh was in trouble, it stepped
in and leveraged a dip in the NASDAQ to bear down stock prices. The
resultant slump in the markets happened soon after Finance Minister
Yashwant Sinha presented what he considered his best budget ever. Under
pressure from the government, SEBI investigated the scam and heads
began to roll. Among them: the entire management team of BSE, including
its president Anand Rathi, CSFB, First Global, and, in an indirect
connection, P.S.Subramanyam, the Chairman of UTL Evidently, for the 18
months that PSS was Chairman of UTI, the Trust had mirrored the actions
of the bull cartel. The result? When the market tanked, so did the NAV
of its holy cow, the US-64.

33, Tehelka Sting (2001) :- Tehelka, an online news portal, used
spycams to catch army officers and politicians accepting bribes, in
their sting operation called Operation Westend. Investigative
journalism turned another corner in the country.

34, Stockmarket Scam (2001) :- The mayhem that wiped off over Rs
1,15,000 crore in the markets in March 2001 was masterminded by the
Pentafour bull Ketan Parekh. He was arrested in December 2002 and
banned from acccessing the capital market for 14 years.

35, Home Trade Scam (2002) :- Under the pretext of gilt trading, Rs 600
crore was swindled from over 25 cooperative banks in Maharashtra and
Gujarat by a Navi Mumbai-based brokerage firm Home Trade. Sanjay
Agarwal, CEO of the firm, was arrested in May 2002.

36, Stamp Paper Scam (2003) :- The sheer magnitude of the racket was
shocking-it caused a loss of Rs 30,000 crore to the exchequer.
Disclosures of the mastermind behind it, Abdul Karim Telgi, implicated
top police officers and bureaucrats.

37, Oil-for-Food Scandal (2005) :- K. Natwar Singh was unceremoniously
dropped from the Cabinet when his name surfaced in the Volcker Report
on the Iraq oil-for-food scam.

What India Could Do With Rs 73 Lakh Crore?

Build: 2.4 crore primary healthcare centres. Thats at least 3 for
every village, at a cost of Rs 30 lakh each.

Build: 24.1 lakh Kendriya Vidyalayas at a cost of Rs 3.02 crore each,
with two sections from Class VI to XII.

Construct: 14.6 crore low-cost houses assuming a cost of Rs 5 lakh a
unit.
Set up: 2,703 coal-based power plants of 600 MW each. Each costs Rs
2,700 crore.

Supply: 12 lakh CFL bulbs. Thats enough light for each of Indias 6
lakh villages

Construct: 14.6 lakh km of two-lane highways. Thats a road around
Indias perimeter 97 times over.

Clean up: 50 major rivers for the next 121 years, at Rs 1,200 crore a
river every year.

Launch: 90 NREGA-style schemes, each worth roughly Rs 81,111 crore.
Announce: 121 more loan waiver schemes. All of them worth Rs 60,000
crore.

Give: Rs 56,000 to every Indian. Even better, give Rs 1.82 lakh to 40
crore Indians living BPL.

Hand out: 60.8 crore Tata Nanos to 60.8 crore people. Or four times as
many laptops.

Grow the GDP: The scam money is 27% more than our GDP of Rs 53 lakh
crore."

Greed, graft, politics, bribery, dirty money. Just another day in the
life of a nation still rated among the most corrupt in the world. Scan
the scams that have grabbed headlines, destroyed reputations and left
many people poorer.

------------------------------------------another list from pitke

Prominant Scams Before 2005

Harshad Mehta Big Bull Scam – 4000 crore
Lalu’s Chara Ghotala – 950 crores – July 2008 IAS officer Sajjal gets four-yr RI for 39 crore scam
Hawala Scandal – 5000 crores
Bofors Scandal – 64 crores (Also Read: 1 2 3)
Narendra Rastogi serial scammer – more than 43 crores (Read more 1)
Dalmia Scandal – 595 crores
Civil Aviation Minister Praful Patel fraud case-50 crores
UTI Scam – 32 crores
Mutual Fund Scam – 1350 crores
Bansali Scam – 1200 crores
Ketan Parekh’s Sebi Scam- 888 crores - June 08 – SC issues arrest warrant against Ketan Parekh
Cobbler Scam – 1000 crores
Bribe to allot petrol pumps scam
Churhat lottery scam – ?
Anantnag transport subsidy scam – ?
Bangalore – Mysore Infrastructure Corridor – ?
Kerala SNC Lavalin power scandal – 374.5 crore loss – Dec 09 – Accused CPM leader Vijayan gets bail in graft case.

January 2005

Telgi Scam – 171 crores - Telgi was sentenced 13 yrs RI and 100 cr fine. (Read More 1 2 Timeline 3)
Mayawati’s Taj Corridor- 175 crores alleged scam – Case was dropped in 2007 by the pecial designated court due to insufficient evidence (Read more 1 Is Politics such a high paying profession ? 2 May 2008 -Mayawati attempts to stop CBI investigation 3)
Motilal Goel Scam – 1000 crore

February 2005

West Bengal Telecom Scam – 400 crores
India’s unchecked textbooks racket – estimated 225 crores
Urea Scam – 133 crores

March 2005

Meghalaya lottery scam – 25000 crore

April 2005

Ration Card Scam – 3 crore
Car Financing Scam – ? crore
Junior Basic Trained teachers’ recruitment scam- ?

May 2005

Flood Relief Scam – 13 crores

Let them eat plastic bags – Gautam Goswami

June 2005

Temple Lands Scam – 30 crores
Franking Scam – 30 crores

July 2005

Volkswagon Equity Scam – 11 crores – Sep 10 – CBI names 6 accused
National Slum Development Programme – 1.52 crores (Same guy of Flood Relief Scam May 05 who said “Victims can eat plastic bags”)
Kerala State Electricity Board – 89.32 crores (alleged corruption worth Rs. 100 crores was also involved in the drinking water project)

August 2005

Indian Oil Corporation Scam – ? crores

September 2005

Just talks of investigation of scam shaves off 89000 crores from the market capital
CBI nets 70 officials in all-India anti-corruption drive
Nagmani Scam – 1.5crore
Stamp Scam (Goa) – 30.19 crore

October 2005

Evasion of duty on High End Car’s – ? crore
Okhla Industrial Development Authority (Noida) land scam – ? crore
Employment Guarantee Scheme (EGS) Scam- 9.1 crore

Delivering a talk on Corruption in democratic governance, Pandey said that “At present, the total amount of black money in India has been estimated to be in the range of Rs 50,000 crore and Rs 1,00,000 crore. The most worrisome is the fact that even those quarters that are supposed to fight corruption are not totally corruption-resistant”.

Read more: ‘Black money behind politics’

November 2005

Local Area Development Scheme (MPLADS) Scam – ? crores
National Agricultural Cooperative Marketing Federation of India (NAFED) Scam – 250 crores – Sep 2007 – HC pulls up CBI for not registering case

“I am pained to observe that the law in this country punishes very harshly the small offenders involved in offences of stealing of small amounts to the tune of few hundreds or few thousands. ”Such accused are often sent to jail by the big fishes who defraud the exchequer of crores of rupees…they are dealt with by investigating agencies in a different manner and the law does not act with the same harshness to these offenders,” Justice Dhingra observed in a recent order. ”This attitude of the investigating agencies is beyong comprehension,” he said while directing the CBI to register a case against Pankaj Aggarwal, the alleged mastermind in the scam. Aggarwal has his business in Dubai.

December 2005

Election Fund Scam – ? Crores
Operation Blackboard scam – 1000 crores
Oil for Food Scam – ?

January 2006

Rice Scam – 320 crores
Benami Demat Scam – 30 crores (Sanjay Pandey the same guy in cobbler scam pre 2005)

February 2006

Benami IPO Scam – 32 crores
Liquor Scam – 3600 crores

March 2006

Jaitley an MP who allegedly bailed out Ketan Parekh in Madhavpura Mercantile Co-operative Bank scam case (see Pre 2005 list) one of the biggest scammers enjoys a lavish lifestyle.
The controversial Scorpene Deal – ? crores

April 2006

MTNL GSM Scam – 450 crore

May 2006

Chautala Scam – 1400 crores
BPL Red Cards Scam – 1400 crores

June 2006

The Great Wheat Scam – ?
UTI Franchisee forgery – ? crores
Punjab State Council of Education Research and Training (SCERT) Scam – more than 3 crores

July 2006

BPO Scam – more than 3 crore
Bellary bribe – 150 crore
Duty Exemption Pass Book (DEPB) scheme Scam – 10 crore

August 2006

Unaccounted money on sale of petrol pumps – 18 crores
Punjab Chief Minister Captain Amarinder Singh goes on a multi-crore holiday extravaganza – 2.5 crores
Tata Finance scandal – ? crores

September 2006

Top Punjab cops booked for wireless sets scam – 5 crores
Koda Scandal – 2500 crores – Nov 09 – First arrest made Feb 10 – 1 crore ceized , Ujjawal Chaudhary, senior Income Tax (I-T) officer who was going to reveal connections with politicians and hawals traders abruptly shifted
Punjab Chief Minister Captain Amarinder Singh in real estate fraud – more than 2100 crores (See Aug 2006)
Earlier, all of them had got anticipatory bail from the Punjab and Haryana High Court. Today, they moved regular bail applications. A senior counsel of the Supreme Court appearing on behalf of Captain Amarinder Singh had stressed before the court that his client be granted regular bail till the conclusion of the trial.

“We are discussing legal recourse to be taken in the Apex Court. Wemay even file public interest litigation before the Supreme Court asking for intervention in the case. It is a mockery of the law we are witnessing in the case. Scores of witnesses are going back on their words. We mayeven demand the CBI inquiry into the change of stance by the witnesses,” – Report of Jan 2008

October 2006

West Bengal State Consumer’s Federation Ltd (CONFED) Paddy Scam – ? crore
SEZ Controversies – RBI fears of a revenue loss — some Rs. 170,000 crore over the next five years by way of income tax, excise and customs duties foregone (based on a NIPF study).
Dharmesh Doshi, Madhavpura Cooperative Bank scam – 1030 crores
Barak Missile Deal – 400 crore – The CBI case alleges that Rs 2 crore were paid to the president of a political party (Jaya Jaitley), who functioned from the residence of the then Defence Minister (George Fernandes). March 2008 Nandas claim innocence
Blood Test Kit Scam – ?

November 2006

Bangalore Development Authority and Bangalore Mahanagara Palike on illegal constructions – 180 crore
NSDL and CDSL bags illegitimate profits in an IPO manipulation scam – 116 crore

December 2006

SMS Con – 40-100 crore
Agrofed job scam – ? crore
Haj Quota scam- bribes taken to illegally procure seats from the Government’s subsidised Haj quota for 1 lakh muslims.

January 2007

Illegal Telephone Exchanges Scam – 1000 crores
Non-Banking Financial Companies (NBFC) Scam – swindled 12,000 crores of small investors before leaving the state

Karnataka State Government to award a meagre cash prize (Rs. 2,000) to Jayant Tinaikar, who reportedly exposed the fake stamp paper scam 12 years ago.

February 2007

Uranium Corporation of India Limited Scam – 20 crores
Oriental Bank Scam – 596.44 crores
Mandankumar Scam – 3.5 crores

March 2007

Pune Hassan Ali Khan Scam – 50 crores - I-T department, ED, and IB estimates that several thousand crore rupees were routed out of India(possibly swiss banks) through havala and banking channels.
Congress MP Moni Kumar Subba from Tezpur, lied about his Indian nationality for 16 years manages to scam the country off by 25000 crores

There is little chance of recovery in most of these cases as there are not many assets to recover the arrears, officials claimed.

April 2007

Air Ticket Booking Scam – 13 crores
The Royapettah Benefit Fund (RBF) in Chennai went bust drowning Rs 450 crore and leaving investors and depositors in the lurch a company allowed to operate by RBI.
Fertilizers Subsidies Scam – ? crores

May 2007

Arunachal Pradesh’s corrupt governance: 1000 crores .Misappropriation under former CM Gegong Apang and present incumbent Dorjee Khandu) Aug 10 - Apang arrested

There were a number of cases regarding mismanagement in the Public Distribution System. People in the villages were not getting enough food allotted by the Centre. Cooperative rural banking scams affected small depositors like labourers and teachers. The hydel power sector was also in doldrums.

Sampoorn Gramin Rojgar Yogana Scam – 457 crores . Dec 07 – Scam referred to CBI.

A muti-crore scam under which the poor were deprived of foodgrains under the state scheme. A systematic loot was taking place in the state and the government was not willing to give permission for holding a CBI probe into the scam running into crores of rupees.

Warehouse Receipts Scandal – 500 crores

July 2007

Stock Holding Corporation of India Limited (SHCIL) Scam – ?
Hyderabad Metropolitan Water Supply and Sewerage Board (HMWS&SB) Scam – ?
Punjab Public Service Commission (PPSC) recruitment scam – 8 crores

Three judges of the High Court were found taking favours from Ravi Sidhu, former PPSC chairman. On April 19, 2004, 25 sitting judges of the High Court had gone on mass leave protesting Chief Justice B K Roy’s move to seek an explanation from two judges, Justice Vinay Mittal and Varinder Singh, who had allegedly applied for membership of a private golf course, Forest Hill Resort Club. The club was involved in litigation and was later demolished on the orders of the High Court. The club was illegally constructed in complete violation of Forest and Environment laws. Honorary memberships were given to IAS officers and the two judges to legitimise the illegalities

August 2007

Delhi Development Authority canteen owner Ashok Malhotra owned more than 50 cars and 10 motorcycles were recovered, all bearing special VIP number plates. Raid unearthed 5000 land documents, ? crores
Former Supreme Court Chief Justice YK Sabharwal was involved in dubious judicial deal-making that earned his sons huge profits. – ? crores

September 2007

Kerala State Cooperative Bank Scam – 2000 crores
Aircraft Import Scam – 1059 crores
Leave Travel Concession (LTC) Scam – loss of Rs 200 crore to Government and PSUs.
Indian Space Research Organisation (ISRO) Land Scam – ? crores

‘ISRO comes directly under the prime minister and it is they who have to launch an inquiry and not us. If they are ready for it, then the state government will provide all necessary help,’ – Kerala Chief Minister V.S. Achuthanandan

October 2007

Das filed the petition challenging the actions of the banks in waiving of around Rs 2,300 crore of public money arbitrarily without any valid reason. Describing this as the largest single waiver in the history of Indian banking industry.
Fake housing projects in north India – 500 crores - Y S Rana from Delhi. Rana was the owner of PS&G Developers and Engineers Ltd arrested by EOW.
Kidney Transplant Racket – ? crores more than a 1000 victims.
Many innocent labourers lost their kidney in lure of money and job.The racket is believed to be spread in various states, including Jammu and Kashmir, Rajasthan, Haryana, Delhi and Maharashtra. Source
Coal India Ltd illegally diverted at least Rs10 crore from the funds it had collected for over a decade and meant for the Prime Minister’s National Relief Fund (PMNRF).

Part of the funds collected at the time of the Kargil war for the NDF have been transmitted as late as 27 August 2007, after the initiation of this inquiry.” The Kargil war happened in 1999.

December 2007

Funds collected for victims of the Kargil war, Orissa cyclone and Gujarat earthquake were misused by top IAS officers in Punjab – the documents prove that officers posted as deputy commissioners in Ludhiana, Patiala and Sangrur misappropriated and misused crores of money while heading the Red Cross societies in their districts.
Lucknow Development Authority (LDA) Land Scam – 6 crores

January 2008

Punjab VB arrests whistle-blower

Punjab vigilance bureau is penny wise and pound foolish. A sub-divisional officer (SDO) who blew the whistle on a scam worth crores was arrested by the bureau in an alleged graft case (see pre 2005 SNC Lavalin). While the SDO has been suspended, his own report on the utilisation of border area funds — exposing what is probably the tip of the iceberg — is gathering dust.

February 2008

Kolkotta Museum Scam – 18 crores

One of the biggest repositories of the country’s cultural and historical heritage, has been siphoning off crores of rupees under the pretext of preserving priceless artifacts, a probe has found.

March 2008

Senior Punjab IAS officer suspended for going out of his way to help a company by hiring it without inviting tenders and extending advances without proper bank guarantees. The company failed to repay, causing loss of Rs 20 crore to the corporation.
KPMG – India is “fraud haven”

April 2008

BCCI Dalmiya Scam – ? crores
Illegal export of sandalwood – 5 crores

June 2008

Madhya Pradesh Health Minister Ajay Vishnoi quits after Income Tax raid on brother’s premises – 500 crore
Hotel Le Meridien Credit card skimming – 1 crore

July 2008

Parliamentary horse trading – ? crores
Ghaziabad Provident Fund scam – 23 crores – involved 83 accused included 36 judges, including one sitting Supreme Court judge, 11 High Court judges and 24 judges of subordinate judiciary. Beneficiaries of the ill-gotten money which was siphoned off fraudulently on the basis of fake documents and fictitious government servants and withdrawal of crores of rupees from the provident fund account of third and fourth-grade employees in Ghaziabad region between 2001 and 2008.(Read more 1) Chief Justice of India KG Balakrishnan denied heading the bench hearing (Read more 1) Dec 08 – CBI says it would seek permission to interrogate the judges. Oct – 09 – Key accused dies of heart attack while in custody Jul 10 No evidence against 17 out 41 judges and 24 remaining judges

Ghaziabad police sought permission from the Chief Justice of India and Allahabad Court to initiate a probe against the judges accused in this scam. While the Allahabad High Court dismissed the petition summarily, at the Supreme Court, Chief Justice K. Balakrishnan handled the request with remarkable astuteness and ordered a novel method of investigation that would protect the prestige and the reputation of the judiciary as far as possible.

August 2008

Fake Currency Scam in Uttar Pradesh Bank – 1.5 crores

September 2008

Fake RBI Cheques Scam – 14 crores

October 2008

Shirdi Ghat Repair – ? crores

November 2008

Mid Day Meal Scam – 15.37 crores
2G Spectrum Scam – 1,76,000 crores Dec 08 – Center claims that charges are baseless (Read more 1 2 3 4)
Satyam Computer’s Emergency Management Research Institute (EMRI) Ambulance Services Scam – 5600 crores

December 2008

E-ticketing fraud – 5 crores

January 2009

11 Directors of National Agricultural Marketing Federation of India (Nafed) face criminal action in a Rs3,700 crore fraud.
Satyam Fraud – 7 to 14000 crores – Pricewaterhouse Coopers saw no fraud in Satyam – Nov 09 CBI arrested Satyam’s internal audit head V S Prabhakar Gupta for allegedly fabricating account books, just days before it is due to file a second chargesheet in the multi-crore fraud at the IT firm. Jul 10 – Promoters wrongfully gained 2643 crores (Read more 1 2 3 4 5 6 7)

Reports said that investors like DSP Merrill Lynch, DSP Blackrock, ILFS Financial Services and Deutsche Bank offloaded their shares days before Satyam fraud came out in open.

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May 2009

Computer Purchasing Fraud – 1.53 crores
Divine Homeopath Investment Manager – 1600 crore
Ordnance Factory Board (OFB) arms deal scam – ? crores - Jul 10 - 6 firms get blacklisted
Dr A S Bindra father of ace shooter Abhinav Bindra and managing director of Punjab Meats Limited, Dera Bassion had charges of cheating, fraud and forgery. He committed fraud with a Delhi-based private financial company, Apple India, to the tune of Rs 4.31 crore and with the IndusInd Bank to the tune of Rs 5 crore.

June 2009

Ashok Jadeja Divine Ayurved and Money Multiplier – 100 to 1600 crores (Read more 1)
MCD 45000 Fake Employees Scam – 500-1000 crores annually

July 2009

Bitumen Scam – more than 100 crores
Chhattisgarh Paddy Scam – 4000 crores

August 2009

All India Council of Technical Education bribery scam – ? crores – Chairman R.A. Yadav, who drew a monthly salary of about Rs 80,000, had amassed property worth crores.
Metal Scrap Scam – ? crores
SBI Kanpur – 52 crores - Assistant General Manager, 2 Chief Managers and some senior managers, who were suspected to be directly involved in pilfering the bank by crediting fake cheques into select accounts.

September 2009

Austra Coke – 1000 crores
Bollywood star Nasir Khan figures in multi crore rupee chit fund scam – 191 crore

October 2009

Gold Quest Scam – 1100 crore

December 2009

Dr Suresh Dhotre medicine fraud – 47 crores

January 2010

IAS officer Pradeep Sharma Bheed Bazaar Land allotment scam – 70 crores
Railways and LIC Scam – 400 crores

February 2010

Bhopal Home Loan Scam – 2 crores
Wipro Embezzlement Fraud – 180 crores
Chak De India Scam – ?
PAN Card Scam – 3 crores

March 2010

Kandla Port Trust (KPT) Scam – ? crores – 16000 acres of land was leased out to few parties at nominal rates.
Fake Income Tax Returns Scam – 6 crores

April 2010

President of the Medical Council of India (MCI), Dr Ketan Desai in college scam – 500 crores - Demanded Rs 40 lakh from students seeking admission in a capitation fee racket and money for allotting seat as a management quota student. (Read more 1 2)
Financial Fraud hits 87% of Indian companies

Perception of Fraud in India

Satyam Scam Timeline

June 2010

Canara Bank defrauded – 9.14 crore
Railway Recruitment Board Paper Leak – 15.5 crore

July 2010

Lalit Modi Indian Premier League (IPL) Scam – 1200 crores

August 2010

Commonwealth Games Scam – 8000 crores

September 2010

Senior citizen savings scheme (SCSS) Post Office Scam – 2 crores

October 2010

International Film Festival of India (IFFI) Infrastructure creation Scam in Goa – ? crores
Adarsh Society Scam – ? crores

November 2010

State-owned Mineral Scrap Trading Corporation (MSTC) was defrauded by jewelery traders – 1400 crores

December 2010

Citibank swindle – 300 crores
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