Commonwealthgames scam
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The Commonwealth Games held in Delhi, India in 2010 were marred by a large scam involving the misappropriation of 70,000 crore rupees during preparations. Suresh Kalmadi, the organizing committee chairman, was the main accused of awarding contracts improperly and not maintaining venues properly. The issues led to delays and a bridge collapse before the Games. After investigations, Kalmadi and others such as former Secretary General Lalit Bhanot were arrested and charged for their role in the scam.
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Commonwealth scam india
The 2010 Commonwealth Games were hosted in New Delhi, India over 12 days with participation from 71 countries. Around 12 billion rupees were spent on infrastructure development for the Games, including developing 20 cities as tourist destinations and a special "Game Village." Issues around misappropriation of funds estimated at 70,000 crore arose during the preparations and execution of the Games. Suresh Kalmadi, the chairman of the organizing committee, and others were accused of involvement in the Commonwealth Games scam and arrested. An investigation into the irregularities is ongoing.
commonwealth Games 2010 Scam
The Commonwealth Games held in Delhi in 2010 were plagued by massive cost overruns, unfinished projects, and allegations of corruption. The original budget of $361 million ballooned to an estimated $70 billion. Complaints emerged regarding dirty and unfinished athlete housing, delayed construction, and inflated contracts. An investigation found senior politicians and businessmen illegally inflating costs. The event succeeded on the field but failed due to large-scale corruption and mismanagement, wasting billions in taxpayer money.
Common wealth games scam 2010
Common Wealth Scam India 2010, Suresh Klamadi, Detail explanation of Common Wealth scam, Impact of common wealth scam 2010, Committee Member of Organising Team of Common Wealth Game 2010,
CWG SCAM
The Commonwealth Games held in India in 2010 were marred by widespread financial corruption and construction issues. Several venues, including the Games Village housing athletes, had structural defects and inadequate facilities. There were also scandals around ticket sales, with many venues being near-empty despite tickets being reported as sold out. An investigation by the Central Vigilance Commission found over 8,000 crores (approximately $1.6 billion) in misappropriated funds from various projects related to the Games. Suresh Kalmadi, who headed the organizing committee, is alleged to have played a key role in the corruption scandals. The CBI launched investigations and raids on Kalmadi and other officials suspected of involvement in the scams
Common wealth games scam................
The document summarizes the Commonwealth Games scam that occurred in 2010 in New Delhi, India. It describes how large amounts of money intended for preparations and conduct of the games was misappropriated, totaling an estimated 70,000 crore rupees. Key figures involved in the scam included Suresh Kalmadi, the chairman of the organizing committee, and others. There were issues with delays, poor organization, and infrastructure failures. An investigation was launched in response.
commonwealth game scam
The 2010 Commonwealth Games held in Delhi, India was marred by significant corruption scandals totaling an estimated 70,000 crore (over $10 billion). Suresh Kalmadi, the chairman of the organizing committee, was found to have embezzled public funds leading to cost overruns of 16 times the original budget through inflated contracts. An investigation uncovered issues like child labor, paying workers less than minimum wage, and using substandard materials in construction. While Kalmadi was arrested and stood trial, the scandals underscored the misuse of public money for vanity projects when basic infrastructure and welfare were lacking.
Commonwealth games india scam
Commonwealth games 2010 was held in India. The event that was supposed to be the pride of the nation, became the shame for the country. The event and was marked by the scam, bad management and various other controversies.
Final common wealth scam1
The document discusses the 2010 Commonwealth Games held in Delhi, India. It provides an overview of the Games, including that over $1.2 billion was spent on infrastructure development. However, the Games were plagued by corruption scandals. Suresh Kalmadi, the organizing committee chairman, was the prime accused in the Commonwealth Games scam and was arrested for fraud and criminal conspiracy related to inflated contracts. The Games faced significant criticism for the misuse of public funds.
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Commonwealth scam india
The 2010 Commonwealth Games were hosted in New Delhi, India over 12 days with participation from 71 countries. Around 12 billion rupees were spent on infrastructure development for the Games, including developing 20 cities as tourist destinations and a special "Game Village." Issues around misappropriation of funds estimated at 70,000 crore arose during the preparations and execution of the Games. Suresh Kalmadi, the chairman of the organizing committee, and others were accused of involvement in the Commonwealth Games scam and arrested. An investigation into the irregularities is ongoing.
commonwealth Games 2010 Scam
The Commonwealth Games held in Delhi in 2010 were plagued by massive cost overruns, unfinished projects, and allegations of corruption. The original budget of $361 million ballooned to an estimated $70 billion. Complaints emerged regarding dirty and unfinished athlete housing, delayed construction, and inflated contracts. An investigation found senior politicians and businessmen illegally inflating costs. The event succeeded on the field but failed due to large-scale corruption and mismanagement, wasting billions in taxpayer money.
Common wealth games scam 2010
Common Wealth Scam India 2010, Suresh Klamadi, Detail explanation of Common Wealth scam, Impact of common wealth scam 2010, Committee Member of Organising Team of Common Wealth Game 2010,
CWG SCAM
The Commonwealth Games held in India in 2010 were marred by widespread financial corruption and construction issues. Several venues, including the Games Village housing athletes, had structural defects and inadequate facilities. There were also scandals around ticket sales, with many venues being near-empty despite tickets being reported as sold out. An investigation by the Central Vigilance Commission found over 8,000 crores (approximately $1.6 billion) in misappropriated funds from various projects related to the Games. Suresh Kalmadi, who headed the organizing committee, is alleged to have played a key role in the corruption scandals. The CBI launched investigations and raids on Kalmadi and other officials suspected of involvement in the scams
Common wealth games scam................
The document summarizes the Commonwealth Games scam that occurred in 2010 in New Delhi, India. It describes how large amounts of money intended for preparations and conduct of the games was misappropriated, totaling an estimated 70,000 crore rupees. Key figures involved in the scam included Suresh Kalmadi, the chairman of the organizing committee, and others. There were issues with delays, poor organization, and infrastructure failures. An investigation was launched in response.
commonwealth game scam
The 2010 Commonwealth Games held in Delhi, India was marred by significant corruption scandals totaling an estimated 70,000 crore (over $10 billion). Suresh Kalmadi, the chairman of the organizing committee, was found to have embezzled public funds leading to cost overruns of 16 times the original budget through inflated contracts. An investigation uncovered issues like child labor, paying workers less than minimum wage, and using substandard materials in construction. While Kalmadi was arrested and stood trial, the scandals underscored the misuse of public money for vanity projects when basic infrastructure and welfare were lacking.
Commonwealth games india scam
Commonwealth games 2010 was held in India. The event that was supposed to be the pride of the nation, became the shame for the country. The event and was marked by the scam, bad management and various other controversies.
Final common wealth scam1
The document discusses the 2010 Commonwealth Games held in Delhi, India. It provides an overview of the Games, including that over $1.2 billion was spent on infrastructure development. However, the Games were plagued by corruption scandals. Suresh Kalmadi, the organizing committee chairman, was the prime accused in the Commonwealth Games scam and was arrested for fraud and criminal conspiracy related to inflated contracts. The Games faced significant criticism for the misuse of public funds.
Telgi scam
Telgi scam was a major scam involving the printing of counterfeit stamp papers by Abdul Karim Telgi from Belgaum, Karnataka. Telgi had mastered the art of forging stamp papers, which he sold through a network of over 300 agents to banks, companies and institutions across 12 states. The scam was estimated to be worth over Rs. 20,000 crores by the time it was uncovered. Telgi was eventually arrested and sentenced to 13 years in prison, while the scam had wide-ranging impacts, increasing oversight of stamp paper stocks and transactions at banks.
Cwg
The document summarizes the Commonwealth Games held in India in 2010, including an overview of the event and amounts spent on infrastructure development and venues. It then describes several scams related to the Games, including overspending on buses and metro services, inflated costs for balloons at the opening ceremony, and empty venues despite sold-out tickets. Thousands of pounds were allegedly stolen by fraudsters organizing the Games, and there were issues like leaky buildings and lack of facilities for athletes and journalists.
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Top five(5) scam’s of india
The document summarizes the top five scams in India: 1) The 2G spectrum scam involving the former telecom minister cost the government Rs. 1.76 lakh crore. 2) The Commonwealth Games scam in 2010 was soaked in allegations of corruption totaling Rs 36,000 crores. 3) The Satyam scam was the biggest corporate fraud totaling Rs. 14,000 crore led by Ramalinga Raju. 4) The IPL scam involved corrupt practices turning the league into a $4.1 billion enterprise. 5) The Hawala scandal was a $18 million bribery scandal involving leading politicians through hawala brokers in 1996.
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Ppt on harshad mehta scam.
Harshad Mehta used loopholes in the banking system in the early 1990s to divert Rs 4000 crore and manipulate stock prices in what became known as the Harshad Mehta securities scam. He used instruments like ready forward deals and fake bank receipts to carry out the fraud. The scam had major impacts, including stalling economic reforms and causing losses for banks. Mehta was later arrested and banned from stock trading, facing over 600 lawsuits. The scam exposed weaknesses in the financial system and led to regulatory changes to strengthen oversight of markets.
Harshad mehta scam
Harshad Mehta was a stockbroker born in 1954 who orchestrated a securities scam in the early 1990s that diverted 4000 crore rupees from banks to stockbrokers using loopholes in the banking system. He manipulated the stock market by misappropriating over 2.8 million shares in around 90 companies. The scam had major effects, including losses for the banking system, many bankrupt investors, and a sharp fall in stock prices. Mehta was arrested in 1992 and convicted in 1999, receiving a 5-year prison sentence, but he died in prison in 2001 at the age of 47 from heart issues.
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Lalit Modi was instrumental in transforming cricket from a sport to a corporate business in India through the creation of the Indian Premier League (IPL). As the chairman of the IPL, he conceptualized the T20 tournament on the model of the English Premier League and NBA. Key features included city-based franchises that could build their own brands and profit from local revenues. The IPL was hugely successful and generated substantial profits for both players and the BCCI through lucrative media and sponsorship deals brokered by Modi. However, his methods also attracted some criticism.
hawala-scam
The document summarizes the Hawala scam of the 1990s in India, one of the country's biggest political scandals. It involved illegal money transfers through hawala brokers and implicated over 115 politicians. Key details include:
- Hawala brokers S.K. Jain and Moolchand Shah's testimony led to unfolding of the scandal and implicated senior politicians like P.V. Narasimha Rao for receiving illegal payments.
- A CBI investigation named over 115 politicians from various parties as having received payments totaling over $18 million, according to the hawala brokers' records, but the courts eventually dismissed the cases due to lack of evidence.
Punjab National Bank (PNB) Scam
1) 11400 Crores Fraud
2) Nirav Modi, the billionaire jeweler who along with others scammed Punjab National Bank (PNB) of over 11400 crore’s has fled the country.
3) Apparently Nirav modi spotted in which place WE DON’T KNOW But What exactly is this scam?
4) The CBI has registered a case against Nirav Modi on January 29. Punjab National Bank registered a case against Nirav Modi, His Brother Neeshal & His Uncle Mehul Choksi on February 13.
5) The Bank initially reported a scam of rupees 280 crores. But it was later realized to be rupees 11400 crores. This is a lot of money. So how does one get away with a scam of such magnitude? Possibly it is one of the biggest in Indias’s banking history.
6) Nirav Modi is an importer of diamonds. Basically importers prefer to take loans in foreign currencies as interest rates on that are lower. In this case a loan that is taken from any overseas bank guaranteed by PNB. Then what Modi had to do was approach PNB & ask for buyers credit? In order to do this PNB had to issue a “letter Of Undertaking” to an overseas bank. Basically LoU guarantees an overseas bank that if it gives money for a specified period to identified by the home bank (in this case PNB) then the home bank will assure that the money will be returned to the overseas bank.
7) Most of these overseas banks are Indian Banks with foreign branches. So the overseas bank directly give to loan PNB not Nirav Modi. An account has to create by PNB called a NOSTRO account where the overseas bank gives the loan.
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Harsad Mehta Scam
Harshad Mehta was an Indian stockbroker charged with numerous financial crimes in the 1992 securities scam. He exploited loopholes in the banking system to siphon funds from inter-bank transactions and manipulate stock prices. When exposed, it was found that Mehta misappropriated over $800 million through fraudulent transactions. The scam had widespread impacts, including a sharp drop in stock prices, lawsuits, and increased scrutiny of the financial system and liberalization policies. Mehta was convicted on one charge and died in 2001 while other trials were still ongoing.
Telgi scam
Telgi scam was one of the biggest scams in India involving the production and distribution of fake stamp papers and stamps across 13 states. Abdul Karim Telgi led the scam with the involvement of many politicians and officials over 10 years. The scam was estimated to be worth over Rs. 43,000 crores and impacted many public sector banks. Telgi was eventually arrested in 2001 and died in prison while serving multiple sentences.
Common wealth-ppt-1
The document summarizes issues around the management and hosting of the 2010 Commonwealth Games in New Delhi, India. It describes financial irregularities and corruption exposing a large scam. Construction was substandard and venues may not have been ready on time. The Games faced issues like structural defects in the village, missing tickets despite claims of sellouts, empty venues, and a bridge collapse near the main stadium. Investigations found discrepancies and misappropriation of billions of rupees. Suresh Kalmadi, the organizer, is alleged as a key conspirator in the estimated 700 crore rupee scam.
Harshad Mehta Scam
The document summarizes the Securities Scam orchestrated by Harshad Mehta in India in 1992. Mehta exploited loopholes in the banking system to divert funds from inter-bank transactions to purchase stocks, triggering a rise in stock prices. He used instruments like ready forward deals and fake bank receipts to siphon off Rs. 3,500 crores from banks. When the scam was exposed, it led to a sharp crash in stock prices, wiping out Rs. 100,000 crores in market value. Mehta was later charged with multiple criminal offenses for his role in engineering one of India's biggest stock market scams.
Harshad mehta scam (1992)
Harshad Mehta engaged in a massive stock market manipulation scam in 1992 in India. He took advantage of loopholes in the banking system to siphon off Rs. 3500 crores, which he used to invest in inflating stock prices. However, the scam was exposed when the State Bank of India reported a shortfall in government securities. This led to an investigation revealing Mehta's manipulation and caused the stock market to crash by 72%. Mehta was later charged with multiple criminal offenses and civil suits for his role in the scam.
Ketan parekh
Ketan Parekh carried out a major stock market scam in India from 1999-2001. He manipulated stock prices through circular trading and the pump and dump technique, siphoning huge sums of money from banks. His scam contributed to a 177 point crash in the BSE Sensex in March 2001. The scam had widespread impacts, causing losses for many financial institutions and leading to reforms by SEBI to regulate the stock market.
The vijay mallya story
This document discusses Vijay Mallya and Kingfisher Airlines' default on over Rs. 9,000 crore in loans to banks. It details Mallya's business empire and the rise and fall of Kingfisher Airlines, which began operations in 2005 but struggled due to high costs and prices. While Mallya has offered to pay back Rs. 4,000 crore, banks have only recovered around Rs. 1,600 crore by selling collateral such as shares in United Spirits. The document also analyzes loopholes in laws like SARFAESI that have hindered further recovery from Mallya.
Harshad mehta scam
Harshad Mehta exploited loopholes in the banking system in 1992 to siphon off funds from inter-bank transactions and use the money to trigger a rise in stock prices. He did this through fake bank receipts issued by complicit banks that allowed him to acquire money, which he used to purchase shares and drive up prices. When the scheme was exposed by a journalist, banks demanded repayment, causing banks and individuals to lose money. Mehta was later charged with multiple criminal offenses and civil suits, and although he raised further controversy by claiming to bribe politicians, he ultimately died in prison in 2001 while serving time for financial crimes.
Harshad Mehta Scam
Harshad Mehta used loopholes in the banking system in the early 1990s to divert funds of Rs. 4,000 crore from various banks and trigger a spike in the SENSEX. As a stockbroker, he exploited the ready forward system and issued fake bank receipts to borrow funds without proper collateral. His scam was exposed by journalist Sucheta Dalal in 1992 and resulted in reforms to tighten regulation of the stock market and banking system in India. Mehta was later arrested and banned from the stock market for over 70 criminal offenses related to misappropriation of funds.
PNB scam
Nirav Modi, a billionaire diamond jeweler, looted over 11,400 crore rupees from Punjab National Bank through fraudulent Letters of Undertaking. Using his connections with a PNB official, Modi was able to obtain over 150 LoUs without proper verification or collateral. By the time the scam was discovered, Modi and his accomplice Mehul Choksi had fled the country. So far authorities have seized assets worth over 5,100 crore rupees, but 6,300 crore rupees is still outstanding from the largest banking fraud in Indian history. The scam highlighted weaknesses in bank security controls that allowed such large-scale fraud.
The commonwealth games
The Commonwealth Games, formerly known as the British Empire Games, are multi-sport events held every four years involving countries of the Commonwealth of Nations. The first Games were held in 1930 in Hamilton, Canada with 11 countries and 6 sports. The Games have grown over time to include over 70 countries, 17 sports and over 6,500 athletes at the 2014 Games hosted in Glasgow, Scotland. Australia and Canada have hosted the most Games at five times each.
Accommodation at cwg village dissapointing
The document summarizes issues around the organization of the 2010 Commonwealth Games (CWG) in Delhi, India. Key issues included incomplete construction at venues like Jawaharlal Nehru Stadium, poor conditions at the Games Village with dirty facilities, and the collapse of a footbridge near a venue. There were also protests against the corruption in the Games. An investigation later found a scam of Rs. 2,100 crore involving inflated contracts. Suresh Kalmadi, the Chairman of the Organizing Committee, was at the center of allegations of corruption in the Games.
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Telgi scam was a major scam involving the printing of counterfeit stamp papers by Abdul Karim Telgi from Belgaum, Karnataka. Telgi had mastered the art of forging stamp papers, which he sold through a network of over 300 agents to banks, companies and institutions across 12 states. The scam was estimated to be worth over Rs. 20,000 crores by the time it was uncovered. Telgi was eventually arrested and sentenced to 13 years in prison, while the scam had wide-ranging impacts, increasing oversight of stamp paper stocks and transactions at banks.
Cwg
The document summarizes the Commonwealth Games held in India in 2010, including an overview of the event and amounts spent on infrastructure development and venues. It then describes several scams related to the Games, including overspending on buses and metro services, inflated costs for balloons at the opening ceremony, and empty venues despite sold-out tickets. Thousands of pounds were allegedly stolen by fraudsters organizing the Games, and there were issues like leaky buildings and lack of facilities for athletes and journalists.
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Various scam in india which made the people shocked. Like satyam sacm, 2G Scam, Colggate Scam etc.and their effect
Top five(5) scam’s of india
The document summarizes the top five scams in India: 1) The 2G spectrum scam involving the former telecom minister cost the government Rs. 1.76 lakh crore. 2) The Commonwealth Games scam in 2010 was soaked in allegations of corruption totaling Rs 36,000 crores. 3) The Satyam scam was the biggest corporate fraud totaling Rs. 14,000 crore led by Ramalinga Raju. 4) The IPL scam involved corrupt practices turning the league into a $4.1 billion enterprise. 5) The Hawala scandal was a $18 million bribery scandal involving leading politicians through hawala brokers in 1996.
Nirav modi scam presentation
This is all about Nirav Modi who was a defaulter, how this scam happened and what are the possible solutions
Ppt on harshad mehta scam.
Harshad Mehta used loopholes in the banking system in the early 1990s to divert Rs 4000 crore and manipulate stock prices in what became known as the Harshad Mehta securities scam. He used instruments like ready forward deals and fake bank receipts to carry out the fraud. The scam had major impacts, including stalling economic reforms and causing losses for banks. Mehta was later arrested and banned from stock trading, facing over 600 lawsuits. The scam exposed weaknesses in the financial system and led to regulatory changes to strengthen oversight of markets.
Harshad mehta scam
Harshad Mehta was a stockbroker born in 1954 who orchestrated a securities scam in the early 1990s that diverted 4000 crore rupees from banks to stockbrokers using loopholes in the banking system. He manipulated the stock market by misappropriating over 2.8 million shares in around 90 companies. The scam had major effects, including losses for the banking system, many bankrupt investors, and a sharp fall in stock prices. Mehta was arrested in 1992 and convicted in 1999, receiving a 5-year prison sentence, but he died in prison in 2001 at the age of 47 from heart issues.
Lalit Modi
Lalit Modi was instrumental in transforming cricket from a sport to a corporate business in India through the creation of the Indian Premier League (IPL). As the chairman of the IPL, he conceptualized the T20 tournament on the model of the English Premier League and NBA. Key features included city-based franchises that could build their own brands and profit from local revenues. The IPL was hugely successful and generated substantial profits for both players and the BCCI through lucrative media and sponsorship deals brokered by Modi. However, his methods also attracted some criticism.
hawala-scam
The document summarizes the Hawala scam of the 1990s in India, one of the country's biggest political scandals. It involved illegal money transfers through hawala brokers and implicated over 115 politicians. Key details include:
- Hawala brokers S.K. Jain and Moolchand Shah's testimony led to unfolding of the scandal and implicated senior politicians like P.V. Narasimha Rao for receiving illegal payments.
- A CBI investigation named over 115 politicians from various parties as having received payments totaling over $18 million, according to the hawala brokers' records, but the courts eventually dismissed the cases due to lack of evidence.
Punjab National Bank (PNB) Scam
1) 11400 Crores Fraud
2) Nirav Modi, the billionaire jeweler who along with others scammed Punjab National Bank (PNB) of over 11400 crore’s has fled the country.
3) Apparently Nirav modi spotted in which place WE DON’T KNOW But What exactly is this scam?
4) The CBI has registered a case against Nirav Modi on January 29. Punjab National Bank registered a case against Nirav Modi, His Brother Neeshal & His Uncle Mehul Choksi on February 13.
5) The Bank initially reported a scam of rupees 280 crores. But it was later realized to be rupees 11400 crores. This is a lot of money. So how does one get away with a scam of such magnitude? Possibly it is one of the biggest in Indias’s banking history.
6) Nirav Modi is an importer of diamonds. Basically importers prefer to take loans in foreign currencies as interest rates on that are lower. In this case a loan that is taken from any overseas bank guaranteed by PNB. Then what Modi had to do was approach PNB & ask for buyers credit? In order to do this PNB had to issue a “letter Of Undertaking” to an overseas bank. Basically LoU guarantees an overseas bank that if it gives money for a specified period to identified by the home bank (in this case PNB) then the home bank will assure that the money will be returned to the overseas bank.
7) Most of these overseas banks are Indian Banks with foreign branches. So the overseas bank directly give to loan PNB not Nirav Modi. An account has to create by PNB called a NOSTRO account where the overseas bank gives the loan.
.
.
.
.
.
More.........
Harsad Mehta Scam
Harshad Mehta was an Indian stockbroker charged with numerous financial crimes in the 1992 securities scam. He exploited loopholes in the banking system to siphon funds from inter-bank transactions and manipulate stock prices. When exposed, it was found that Mehta misappropriated over $800 million through fraudulent transactions. The scam had widespread impacts, including a sharp drop in stock prices, lawsuits, and increased scrutiny of the financial system and liberalization policies. Mehta was convicted on one charge and died in 2001 while other trials were still ongoing.
Telgi scam
Telgi scam was one of the biggest scams in India involving the production and distribution of fake stamp papers and stamps across 13 states. Abdul Karim Telgi led the scam with the involvement of many politicians and officials over 10 years. The scam was estimated to be worth over Rs. 43,000 crores and impacted many public sector banks. Telgi was eventually arrested in 2001 and died in prison while serving multiple sentences.
Common wealth-ppt-1
The document summarizes issues around the management and hosting of the 2010 Commonwealth Games in New Delhi, India. It describes financial irregularities and corruption exposing a large scam. Construction was substandard and venues may not have been ready on time. The Games faced issues like structural defects in the village, missing tickets despite claims of sellouts, empty venues, and a bridge collapse near the main stadium. Investigations found discrepancies and misappropriation of billions of rupees. Suresh Kalmadi, the organizer, is alleged as a key conspirator in the estimated 700 crore rupee scam.
Harshad Mehta Scam
The document summarizes the Securities Scam orchestrated by Harshad Mehta in India in 1992. Mehta exploited loopholes in the banking system to divert funds from inter-bank transactions to purchase stocks, triggering a rise in stock prices. He used instruments like ready forward deals and fake bank receipts to siphon off Rs. 3,500 crores from banks. When the scam was exposed, it led to a sharp crash in stock prices, wiping out Rs. 100,000 crores in market value. Mehta was later charged with multiple criminal offenses for his role in engineering one of India's biggest stock market scams.
Harshad mehta scam (1992)
Harshad Mehta engaged in a massive stock market manipulation scam in 1992 in India. He took advantage of loopholes in the banking system to siphon off Rs. 3500 crores, which he used to invest in inflating stock prices. However, the scam was exposed when the State Bank of India reported a shortfall in government securities. This led to an investigation revealing Mehta's manipulation and caused the stock market to crash by 72%. Mehta was later charged with multiple criminal offenses and civil suits for his role in the scam.
Ketan parekh
Ketan Parekh carried out a major stock market scam in India from 1999-2001. He manipulated stock prices through circular trading and the pump and dump technique, siphoning huge sums of money from banks. His scam contributed to a 177 point crash in the BSE Sensex in March 2001. The scam had widespread impacts, causing losses for many financial institutions and leading to reforms by SEBI to regulate the stock market.
The vijay mallya story
This document discusses Vijay Mallya and Kingfisher Airlines' default on over Rs. 9,000 crore in loans to banks. It details Mallya's business empire and the rise and fall of Kingfisher Airlines, which began operations in 2005 but struggled due to high costs and prices. While Mallya has offered to pay back Rs. 4,000 crore, banks have only recovered around Rs. 1,600 crore by selling collateral such as shares in United Spirits. The document also analyzes loopholes in laws like SARFAESI that have hindered further recovery from Mallya.
Harshad mehta scam
Harshad Mehta exploited loopholes in the banking system in 1992 to siphon off funds from inter-bank transactions and use the money to trigger a rise in stock prices. He did this through fake bank receipts issued by complicit banks that allowed him to acquire money, which he used to purchase shares and drive up prices. When the scheme was exposed by a journalist, banks demanded repayment, causing banks and individuals to lose money. Mehta was later charged with multiple criminal offenses and civil suits, and although he raised further controversy by claiming to bribe politicians, he ultimately died in prison in 2001 while serving time for financial crimes.
Harshad Mehta Scam
Harshad Mehta used loopholes in the banking system in the early 1990s to divert funds of Rs. 4,000 crore from various banks and trigger a spike in the SENSEX. As a stockbroker, he exploited the ready forward system and issued fake bank receipts to borrow funds without proper collateral. His scam was exposed by journalist Sucheta Dalal in 1992 and resulted in reforms to tighten regulation of the stock market and banking system in India. Mehta was later arrested and banned from the stock market for over 70 criminal offenses related to misappropriation of funds.
PNB scam
Nirav Modi, a billionaire diamond jeweler, looted over 11,400 crore rupees from Punjab National Bank through fraudulent Letters of Undertaking. Using his connections with a PNB official, Modi was able to obtain over 150 LoUs without proper verification or collateral. By the time the scam was discovered, Modi and his accomplice Mehul Choksi had fled the country. So far authorities have seized assets worth over 5,100 crore rupees, but 6,300 crore rupees is still outstanding from the largest banking fraud in Indian history. The scam highlighted weaknesses in bank security controls that allowed such large-scale fraud.
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The document summarizes issues around the organization of the 2010 Commonwealth Games (CWG) in Delhi, India. Key issues included incomplete construction at venues like Jawaharlal Nehru Stadium, poor conditions at the Games Village with dirty facilities, and the collapse of a footbridge near a venue. There were also protests against the corruption in the Games. An investigation later found a scam of Rs. 2,100 crore involving inflated contracts. Suresh Kalmadi, the Chairman of the Organizing Committee, was at the center of allegations of corruption in the Games.
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Commonwealthgames scam
- 1. COMMON WEALTH GAMES SCAM 2010
- 2. WHAT IS COMMON WEALTH GAMES ? 1. Multi-Sport Event 2. Third largest game after Olympic and Asian Games 3. Initially known as BRITISH EMPIRE GAME 4. The First Event was held in the Year 1930
- 3. Overview of Common Wealth Games In India • India was inducted into the games way back in the year 1934 and it hosted the common wealth games tournament in the year 2010 for the first time • The Games were hosted at New Delhi • There were 71 countries and around 2000 staff & 18000 volunteers were there for the event • It was a 12 day sports event • Around 12 billion rupees were spent on Infrastructure Development • 20 cities were developed for Tourist destination • A special village was made for Commonwealth games called as “Game Village” • The official song of “Jiyo Utho Bado Jeeto” was composed by celebrated Indian musician A.R. Rahman • The Official Mascot was “Shera”
- 4. Facts And figures of common wealth games
- 5. What the Scam Is all About???? The CWG scam as it is known involved large scale misappropriation of money during the preparatory phase and conduct of the 2010 Commonwealth games held in New Delhi. The total value of the scam is estimated to be 70,000 crore. Issues that were brought into concern involved many political and administrative aspects of Commonwealth Games 2010.
- 6. What the Scam Is all About???? Maintenance of the venues were not up to date Programme management failed to keep up with the allotted schedules which in turn caused delay in major events 12 days before the Games, a new foot over-bridge near the venue, The Jawaharlal Nehru Stadium, collapsed, injuring 23 laborers, five of them critical. Major projects like Airport Metro Express Construction was delayed causing chaos in the Parliament
- 7. CWG SCAM • Suresh Kalmadi who was the chairman of the CWG organizing committee was accused by the CBI of awarding a TSR system contract to a Swiss firm • The charge sheet said that “Kalmadi was the main accused as he was the person with all the supreme powers In addition to Kalmadi , the CBI named two companies along with Kalmadi that is Jaypee Group and MTNL and also persons including former Secretary General Lalit Bhanot, Chief Minister of Delhi - Sheila Dikshit and Robert Vadra ( Son In Law Of Sonia Gandhi )
- 8. Cont.. On April 25,2011 after being questioned over alleged irregularities in the conduct of the Queens baton Relay held in London in 2010, CBI arrested Kalmadi under sections 120B and 420 (criminal conspiracy and cheating)of the Indian Penal code in the Commonwealth Games Time Scoring Equipment Scam He was however restrained on 25th July 2012 by the Delhi High Court from participating in the opening ceremony of the London Olympics, saying his participation can cause ‘embarrassment’ to the nation
- 9. Cont.. • Kalmadi’s conduct at the 2010 has come under scrutiny 2010 Commonwealth Games • On January 8th 2012 Suresh Kalmadi was granted Bail by the Delhi High Court • Suresh Kalmadi was in Jail for 10 months and the court asked him to pay a surety amount of Rs 5 lakhs • Kalmadi was accused in the CWG graft case but was finally allowed by Delhi high court on 13 July 2012 to go to London for 2012 Olympics
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