08 Biggest Corruption Scams In India

<p style=”text-align: justify;”>We got Independence in 1947, however not from CORRUPTION. One among the largest barrier of the nations growth today is corruption. The word scam and corruption have become similar with the campaign that anna Hazare, along with his supporters, has undertaken.
These 2 words are, almost entirely, responsible for the political and social state that our country is in these days. The entire nation suffered economically and faced humiliation because of the greed of some individuals. Though anna Hazare, has been ready to wake the nation from its slumber to a great extent, the damage that has already been done by these scams can’t be erased.
The below-listed 08 biggest corruption scams may be familiar for many of us, but the money involved will leave you astonished. The figures mentioned is simply an estimate from various sources, no one is aware of the exact figure.

Scams In India

Scams In India

08 Biggest Corruption Scams In India:

  1. Indian Coal Allocation Scam – Rs 1.86 lakh crore:

    Scams In India

    Scams In India

    Fancy name by media for this scam is Colgate. Whereas many assume that 2G scam remains the biggest one in size in India. However this coal allocation scam dwarfs it by the amount involved. This coal allocation  scam is in regards to Indian Government’s allocation of nation’s coal deposit to PSU’s and private corporations. The scam happened under Manmohan Singh government and came out in 2012.
    Dr Manmohan Singh was in charge of the Coal Ministry between 2006 and 2009. A number of the files missing contain information on allocations of coal fields during this era.
    After lots of hammering by the Opposition, all except seven files were traced. And then sent to the CBI to any the probe.

  2.  2G Spectrum Scam – Rs 1.76 lakh crore:

    Scams In India

    Scams In India

    One of the most important financial scams in the country, the 2G scam involves undercharging by government officials to various telecom companies throughout the allocation of 2G licenses for mobile phone subscriptions. The telecom bandwidth tender was undervalued and offered to a most well-liked few on a ‘First-Come-First-Served’ basis instead of a transparent auction system, suggested by the PMO.

    At the center of this Rs 1.76 lakh crore value of scam is that the former telecom minister A Raja – who according to the CAG, has evaded norms at each level as he carried out the dubious 2G license awards in 2008 at a throw-away price that were pegged at 2001 costs. The cases are still going on against many people including A. Raja, M. K. Kanimozhi and plenty of telecommunication companies likewise.

  3.  Wakf Board Land Scam – 1.5 – 2 lakh Crores:

    Scams In India

    Scams In India

    In March of 2012, Anwar Mania pay, the chairman of Karnataka State Minorities Commission submitted a sensational report that alleged 27,000 acres of land. Which controlled by Karnataka Wakf Board had allotted illegally or misappropriated. The worth of land that was misappropriated was in tune of Rs 1.5 to 2 lakh crore.
    The land managed by Wakf board, a Muslim public trust, is often given to under-privileged and poor people of Muslim community. However, the report alleged that almost 50 % of the land in hand by Wakf board was illegal by Politicians and Board members in conjunction with real estate mafia at fraction of actual land value.

  4.  Commonwealth Games Scam – Rs 70,000 Crores:

    Scams In India

    Scams In India

    Among all the scams, Common Wealth Games Loot was the sole loot which got highest attention in the media. We don’t seem to be sorry to call this a loot, and here is why.
    It is calculable that out of Rs 70,000 crore spent on the Games, only half the same amount spent on Indian sports persons. The Central Vigilance Commission, involved in inquiring the alleged corruption in various Commonwealth Games-related comes, has found discrepancies in tenders. Like payment to non-existent parties, will-full delays in execution of contracts, over-inflated value. And bungling in purchase of equipment through tendering – and misappropriation of funds.

  5. Antrix Devas Scam – Rs 2.0 lakh crore ( Loss ):

    Scams In India

    Scams In India

    The Antrix Devas scam involves G Madhavan Nair former ISRO chairman and 3 different scientists who were responsible. Who made a disputed contract between Antrix Corporation and Devas multimedia private limited on Jan 28, 2005. Beneath the deal, Antrix was to produce 70 mhz of S-Band wavelength to Devas for broadcasting functions. This was to done by ISRO leasing out S-band transponders in 2 satellites (GSAT6 and GSAT6A) to Devas.
    The principle of ‘first come, 1st served’ deployed by A. Raja for 2G spectrum allocation – which has landed him in jail – was conjointly followed by space scientists whereas allocating S-band transponders and spectrum to Devas. The audit report pegged the loss at Rs 2.0 lakh crore.

  6. Telgi Scam – Rs 20,000 Crores:

    Scams In India

    Scams In India

    Abdul Karim Telgi, the maestro managed to print fake stamp papers and so sold them to various financial institutions and banks. He appointed 300 people as agents who sold-out the fakes to bulk purchasers, as well as banks, insurance corporations, and share-broking firms. The tentacles of the faux stamp and stamp paper case had penetrated 12 states and estimated at a whopping Rs 20,000 crore plus.

  7. Bellary Mining Scam Reddy Brothers – Rs 16,080 Crores:

    Scams In India

    Scams In India

    Rising global iron-ore costs driven by Chinese demand brought focus to the iron ore rich Bellary region of Karnataka. A report published by former Lokayukta of Karnataka, Justice Santosh Hegde said that Yeddyurappa and his members of the family had accepted bribes within the form of donations to trusts from mining companies in exchange for issuing extention of the lease period from 2004 to 2017, that was illegal .

    This led resignation of former chief minister BS Yeddyurappa, concerned mining barons, the Reddy brothers.

  8. Satyam Scam – Rs 14,000 Crores:

    Scams In India

    Scams In India

    Satyam is that the biggest fraud within the corporate history to the tune of Rs 14,000 crore. The company’s disgraced former chairman Ramalinga Raju kept everybody 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 taken over by the techMahindra that has done wonderfully well to revive the complete Satyam.

While there are corruption scams unearthed terribly regularly, we’ve got selectively come up with list that are most damaging. Unfortunately in most of the cases, the perpetrator of scams are still at giant because cases are pending in Indian Courts.

An average Indian citizen is hard working and diligent, but it’s the people in charge of the system (The Babu’s) or with whom the ability lays, that act as a cancer spreading the venom, slowing down progress and what not. But, somewhere down the line, we ourselves are chargeable for allowing and being taken for a ride by these people, aren’t we?

 

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