Corruption & Scandals in India – continuing the list

thumbs-downPlease refer to this article published in MoneyControl.com yesterday. I can’t post comments to the site (I don’t know why the Indian media will not allow posting of comments without moderation – I think it’s a violation of basic free speech rights which they keep demanding) so I’ve decided to write this.

While the author has made a good beginning, the list is absolutely incomplete which means no research was done at all to make the list. From the top of my mind, I can list these huge scandals in addition to what’s been listed:

The HDW Submarine Purchase Kickback – US$ 100 million  in 1981 The same company is again pitching for new orders despite being banned by the government then

The Sugar Import Scam – US$ 160 Million in 1994

The Fodder Scam – US$ 250 Million in 1996

The Fertiliser Import Scam – US$ 330 Million in 1996

The Telecom Scam – US$ 400 Million in 1997 – I remember him because of the TV images I saw of tons of cash being found in the ministers home and also because his son’s name in same as mine, Anil Sharma!

The Kargil Coffin Scam – Everyone feels ashamed in mentioning this, so everything’s been forgotten about it.

The Telgi Stamp Paper Scam – over US $40 million in 2000

The UTI Scam – US$ 1.1 Billion in 2001

The Scorpene Submarine Scam – Only US$ 4.7 Billion in 2005. People forgot the earlier Submarine purchase scam by then.

The Madhu Coda Scam – US$ 900 Million in 2009

I suppose if someone did some more research, a longer list could be made. This magazine article claims that US$ 1622.22 Billion have been swindled away in India since 1992 when the modernization process started. The article is dated 23 Nov 2009 after which at least US$ 40 Billion more of scams have unraveled.

If you think that politicians have been put behind bars or these scam monies have been discovered and returned to the governments coffers, you’re wrong.  I’ve been trying to get a Wikipedia page for myself – an honest tax paying citizen – and have failed. However, this Indian guy – Hassan Ali has his own Wikipedia page. His claim to fame – he owes US$ 11.11 Billion in taxes to the government as acknowledged by the Minister of State for Finance. He’s a small time stud farm owner and no one knows where he got his money from ! He’s not behind bars and neither will be.

If you know of more scams, like the Mining Scams, The Army Ration Pilferage Scams etc., please feel free to comment and add them to the list.

10 Comments

  1. Pingback: Tweets that mention Corruption Scams in India - continuing the list | Anil Sharma -- Topsy.com

  2. Anil

    Very good to see Anna Hazare fight for corruption in India. It’s time a strong LokPal bill be bought to put corrupt politicians behind bars

  3. Pingback: Anna Hazare, politics, and media « urbanyogie

  4. RIDAM

    THIS IS WHAT OUR COUNTRY IS NOT DEVELOPING BECAUSE OF WHICH WE CITIZENS WHO TAKE PRIDE TO BE AN INDIAN FEELS SORRY FOR PURCOUNTRY AND THIS IS WHAT WORLD LOOKS INDIA AS CORRUPT AND A UNFAITH COUNTRY.ITS THE TIME TO WAKE UP AND FIGHT AGAINST THESE CORRUPTORS

    JAI HIND

  5. Easwar

    Very good to see Anna Hazare fight for corruption in India. !!!! its really crazy to hear! Where Mr. Hon Anna Hazare went since 1947? do you still believe that this government will impose some act against their ministers and MP’s?

    Poor Indian (Hee)

  6. Aman

    1) 2G Spectrum Scam

    We have had a number of scams in India; but none bigger than the scam involving the process of allocating unified access service licenses. At the heart of this Rs.1.76-lakh crore worth of scam is the former Telecom minister A Raja – who according to the CAG, has evaded norms at every level as he carried out the dubious 2G license awards in 2008 at a throw-away price which were pegged at 2001 prices.
    2) Commonwealth Games Scam

    clip image005 Top 10 Corruption Scams in India

    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 crore spent on the Games, only half the said amount was spent on Indian sportspersons.

    The Central Vigilance Commission, involved in probing the alleged corruption in various Commonwealth Games-related projects, has found discrepancies in tenders – like payment to non-existent parties, will-ful delays in execution of contracts, over-inflated price and bungling in purchase of equipment through tendering – and misappropriation of funds.
    3) Telgi 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 institutions. The tentacles of the fake stamp and stamp paper case had penetrated 12 states and was estimated at a whooping Rs. 20000 crore plus. The Telgi clearly had a lot of support from government departments that were responsible for the production and sale of high security stamps.
    4) Satyam Scam

    clip image007 Top 10 Corruption Scams in India

    The scam at Satyam Computer Services is something that will shatter the peace and tranquillity of Indian investors and shareholder community beyond repair. Satyam is the biggest fraud in the corporate history to the tune of Rs. 14000 crore.

    The company’s disgraced former chairman Ramalinga Raju kept everyone 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 was taken over by the Tech Mahindra which has done wonderfully well to revive the brand Satyam.
    5) Bofors Scam

    The Bofors scandal is known as the hallmark of Indian corruption. The Bofors scam was a major corruption scandal in India in the 1980s; when the then PM Rajiv Gandhi and several others including a powerful NRI family named the Hindujas, were accused of receiving kickbacks from Bofors AB for winning a bid to supply India’s 155 mm field howitzer.

    The Swedish State Radio had broadcast a startling report about an undercover operation carried out by Bofors, Sweden’s biggest arms manufacturer, whereby $16 million were allegedly paid to members of PM Rajiv Gandhi’s Congress.

    Most of all, the Bofors scam had a strong emotional appeal because it was a scam related to the defense services and India’s security interests.
    http://mybizle.com

  7. Chanderkant Sharma

    An analysis of the Scams committed since 1992 reveal that these scams involved huge money.Let us evaluate in monetary terms the magnitude of these Scams.
    The monetary value of the Scams committed since 1992 are as follows:-
    1992 — Harshad Mehta Scam was worth Rs 5000 Crores.
    1994 — Sugar Import Scam was worth Rs 650 Crores.
    1995 — Preferential Allotment Scam was worth Rs 5000 Crores.
    1995 — Yugoslav Dinar scam was worth Rs 400 Crores.
    1995 — Meghalay Forest Scam was worth Rs 300Crores.
    1996 — Fertilisers Import Scam was worth 1300 Crores.
    1997 — Sukhram telecom Scam was worth Rs 400 Crores.
    1997 — Lavalin Power project Scam was worth Rs 374 Crores.
    1997 — Bihar Land Scam was worth 1200 Crores
    1997 — C R Bhansali stock scam was worth Rs 1200 Crores.
    1998 — Teak Plantation Scam was worth rs 8000 Crores.
    2001 — UTI Scam was Rs 4800 Crores.
    2001 — Dinesh Dalmia Stock Scam was worth Rs 596 Crores.
    2001 — Ketan Parekh security scam was worth Rs 1250 Crores.
    2002 — Sanjay Agarwal Home Trade Scam was worth Rs 600 Crores.
    2003 — Telgi Stamp paper Scam was worth Rs 172 Crores.
    2005 — IPO Demat Scam was worth Rs 146 Crores.
    2005 — Bihar food relief Scam was worth 17 crores.
    2005 — Scorpene submarine Scam was worth Rs 18,978 crores.
    2006 — Punjab’s city centre project scam
    2006 — Taj Corridor Scam was worth 175 Crores.
    2008 — Pune Billionaire Hasan Ali tax default scam was worth Rs 50,000 crores.
    2008 – Satyam Scam was worth Rs 10.000 Crores.
    2008 — Army Ration Pilferage Scam was worth Rs 5000 crores.
    2008 — 2G Spectrum Scam was worth Rs 60.000 Crores.
    2008 — State Bank of Saurashtra Scam was worth Rs 95 crores.
    2008 — Illegal money in Swiss Bank is worth Rs 71,00,000 Crores.
    2009 — Jharkhand Medical equipment scam was worth Rs 130 Crores.
    2009 — Rice export scam was worth Rs 2500 crores.
    2009 — Orissa Mine scam was worth Rs 7000 crores.
    2009 — Madhu Koda scam was worth Rs 4000 crores.
    2010 – IPL fraud involving swine called Lalit Modi option was worth?
    2010 — Commonwealth Games loot is worth?
    The total monetary worth of the Scam committed since 1992 in India is worth more than around Rs 1,00,00,000 crores (One Crore Crores).
    If analyze these scam using your commomsense, you would come to the conclusion that the real thieves robbing our Country are essentially “Polticians, industrialists and stock broking dalals of dalal street”. And one more thing if Mrs. Gandhi is so much strict on corruption in this country so why not realize that how much congressman are corrupt after reading the above list. I request Mrs. Gandhi to read this list and realize how much scam takes place in congress’s regime.

    I also add something that is very essentisl for our “Sanskriti” culture that please banned some websites in india related to Porn culture like movie,picture
    everything related to it.

  8. Anil Sharma

    Some Updates: Latest Scams of 2011

    Mining Scam: US$ 3.5 Billion – Chief Minister of Karnataka indited

  9. And if you want to understand the Laws of Corruption, please see this brilliant piece by Nitin Gupta – http://www.youtube.com/watch?v=HIudxeqFuz8&feature=player_embedded

  10. Pingback: List of scams in India – A to Z | Anil Sharma

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