News Scams in India

Scams in India

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With the ever increasing rampant corruption , India has witnessed some brain wracking scams in India.

Indian coal allocation scam

This coalgate scam took place when the CAG of India got to know that the government instead of auctioning the coal blocks, allocated them to considerably a much lower price that resulted to the loss of 1.86 lakh crores.

2G Spectrum Scam

Yet another scam that spoilt the image of the UPA-2, reportedly, the politicians of the congress were accused of undercharging telecom companies. The difference of about 1,76,645 Rs. was noticed between what was expected and what was altogether collected.

Telgi Scam

Well, Telgi scam had all the suspense and drama that caught everyone’s attention. Fake stamp papers were produced by Abdul Kalam Telgi and were sold to banks and several other institutions. He apparently made a forgery of a whopping 20000 crores .

SATYAM SCAM

Satyam has been proved the biggest fraud in the corporate history to the tune of about 14000 crore.

The company’s chairman Ramalinga kept everyone in the dark for a decade by forging the details in the books of the accounts and inflating revenues and profit figures of Satyam.

THE FODDER SCAM 

Mostly famous by the name of ‘Chara Ghotala’ this corruption was held of about 900 crores .  Large scale funds were embezzled in the name of transactions made to non-existent companies for purchase and supply of cattles

 

 

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