A study on Vijay Mallya Scam Case: Vijay Vittal Mallya, once known to you and me as ‘The King of Good Times’ or also dubbed ‘ The playboy of the East’ was born to the Indian Entrepreneur Vittal Mallya in 1955. Vittal Mallya was largely known for the role played as the director of United Breweries (UB) Group which he achieved at the age of 23. Following his father’s sudden demise Vijay Mallya became chairman of the UB Group.Vijay Mallya was always known for his flamboyant and posh lifestyle. A testament to these were the lavish New Year Parties at his Kingfisher Villa in Goa or the birthday bashes thrown on his luxurious Yacht ‘ The Indian Empress’.
The scam can be categorized as capital market scam
in which it is done by manipulating the facts in order to attain enormous funds.
There are four different aspects of the scam.
Diversion of funds
Intra day trading
Use of ready forward to maintain SLR
Fake bank recipts
The Harshad Mehta Scam Exposed. The entire mechanism and who were the key parties involved, the aftermath and the effects of the scam on the stock market and the overall Indian Economy. The ethical issues involved and the action taken to prevent any such scams in the future by the government.
A case study on how Harshad Mehta scammed the entire stock market. There are certain examples and history on how he played a role as a stockbroker.
The underlined and highlighted words can be googled to further more enhance your knowledge.
Punjab National Bank Fraud (Nirav Modi Scam) ppt presentation slideshareFatema Tandiwala
A case study presentation on Punjab National Bank scam (Nirav Modi)
India's second largest state-owned lender Punjab National Bank disclosed on Feb. 14, 2018 that it was the victim of the country’s largest bank fraud.
PNB revealed that fraudulent transactions by billionaire jeweler Nirav Modi and related entities amounted to $1.77 billion or over Rs 11,400 crore.
The key accused in the case were jeweler and designer Nirav Modi, his maternal uncle Mehul Choksi, and other relatives and some PNB employees.
Nirav Modi and his relatives escaped India in early 2018, days before the news of the scam became public.
PNB scam has been dubbed as the biggest fraud in India's banking history.
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 placeWE DON’T KNOWBut 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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More.........
A study on Vijay Mallya Scam Case: Vijay Vittal Mallya, once known to you and me as ‘The King of Good Times’ or also dubbed ‘ The playboy of the East’ was born to the Indian Entrepreneur Vittal Mallya in 1955. Vittal Mallya was largely known for the role played as the director of United Breweries (UB) Group which he achieved at the age of 23. Following his father’s sudden demise Vijay Mallya became chairman of the UB Group.Vijay Mallya was always known for his flamboyant and posh lifestyle. A testament to these were the lavish New Year Parties at his Kingfisher Villa in Goa or the birthday bashes thrown on his luxurious Yacht ‘ The Indian Empress’.
The scam can be categorized as capital market scam
in which it is done by manipulating the facts in order to attain enormous funds.
There are four different aspects of the scam.
Diversion of funds
Intra day trading
Use of ready forward to maintain SLR
Fake bank recipts
The Harshad Mehta Scam Exposed. The entire mechanism and who were the key parties involved, the aftermath and the effects of the scam on the stock market and the overall Indian Economy. The ethical issues involved and the action taken to prevent any such scams in the future by the government.
A case study on how Harshad Mehta scammed the entire stock market. There are certain examples and history on how he played a role as a stockbroker.
The underlined and highlighted words can be googled to further more enhance your knowledge.
Punjab National Bank Fraud (Nirav Modi Scam) ppt presentation slideshareFatema Tandiwala
A case study presentation on Punjab National Bank scam (Nirav Modi)
India's second largest state-owned lender Punjab National Bank disclosed on Feb. 14, 2018 that it was the victim of the country’s largest bank fraud.
PNB revealed that fraudulent transactions by billionaire jeweler Nirav Modi and related entities amounted to $1.77 billion or over Rs 11,400 crore.
The key accused in the case were jeweler and designer Nirav Modi, his maternal uncle Mehul Choksi, and other relatives and some PNB employees.
Nirav Modi and his relatives escaped India in early 2018, days before the news of the scam became public.
PNB scam has been dubbed as the biggest fraud in India's banking history.
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 placeWE DON’T KNOWBut 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.........
Thorium Scam By VV Minerals Is False Newsshiva rajan
News about a thorium scam has been doing the rounds these days and VV minerals being accused of it. However, after an investigation into the matter it was proved that VV Minerals and company owner S. Vaikundarajan is not guilty and this case has been unnecessarily hyped.
Search Engine Optimization, also referred as SEO, Website Promotion, Internet Marketing, Web Marketing is the process of making your website or webpage to rank high in search engines.
CBI ,a professional Investigating Agency has done commendable job but still has always been under controversy of being aligned to the ruling party which must be corrected.
Canadian Immigration Tracker March 2024 - Key SlidesAndrew Griffith
Highlights
Permanent Residents decrease along with percentage of TR2PR decline to 52 percent of all Permanent Residents.
March asylum claim data not issued as of May 27 (unusually late). Irregular arrivals remain very small.
Study permit applications experiencing sharp decrease as a result of announced caps over 50 percent compared to February.
Citizenship numbers remain stable.
Slide 3 has the overall numbers and change.
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Up the Ratios Bylaws - a Comprehensive Process of Our Organizationuptheratios
Up the Ratios is a non-profit organization dedicated to bridging the gap in STEM education for underprivileged students by providing free, high-quality learning opportunities in robotics and other STEM fields. Our mission is to empower the next generation of innovators, thinkers, and problem-solvers by offering a range of educational programs that foster curiosity, creativity, and critical thinking.
At Up the Ratios, we believe that every student, regardless of their socio-economic background, should have access to the tools and knowledge needed to succeed in today's technology-driven world. To achieve this, we host a variety of free classes, workshops, summer camps, and live lectures tailored to students from underserved communities. Our programs are designed to be engaging and hands-on, allowing students to explore the exciting world of robotics and STEM through practical, real-world applications.
Our free classes cover fundamental concepts in robotics, coding, and engineering, providing students with a strong foundation in these critical areas. Through our interactive workshops, students can dive deeper into specific topics, working on projects that challenge them to apply what they've learned and think creatively. Our summer camps offer an immersive experience where students can collaborate on larger projects, develop their teamwork skills, and gain confidence in their abilities.
In addition to our local programs, Up the Ratios is committed to making a global impact. We take donations of new and gently used robotics parts, which we then distribute to students and educational institutions in other countries. These donations help ensure that young learners worldwide have the resources they need to explore and excel in STEM fields. By supporting education in this way, we aim to nurture a global community of future leaders and innovators.
Our live lectures feature guest speakers from various STEM disciplines, including engineers, scientists, and industry professionals who share their knowledge and experiences with our students. These lectures provide valuable insights into potential career paths and inspire students to pursue their passions in STEM.
Up the Ratios relies on the generosity of donors and volunteers to continue our work. Contributions of time, expertise, and financial support are crucial to sustaining our programs and expanding our reach. Whether you're an individual passionate about education, a professional in the STEM field, or a company looking to give back to the community, there are many ways to get involved and make a difference.
We are proud of the positive impact we've had on the lives of countless students, many of whom have gone on to pursue higher education and careers in STEM. By providing these young minds with the tools and opportunities they need to succeed, we are not only changing their futures but also contributing to the advancement of technology and innovation on a broader scale.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
2. Political and bureaucratic corruption in India are
major concerns
In 2012 India was ranked 94th out of 176th countries in
Transparency International's Corruption Perceptions
Index.
According to the data provided by the Swiss Banking
Association Report (2006), India has more black
money than the rest of the world combined.
3. 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.
4. 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 20000 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 Rs14000Crores.
5. 2008 — Army Ration Pilferage Scam was worth Rs 5000 crores.
2008 — 2G Spectrum Scam was worth Rs 1.76 lakh 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
2010 — Commonwealth Games loot is worth 35000 crores
6.
7.
8. Mr. Raju disclosed in a letter to Satyam Computers Limited
Board of Directors that “he had been manipulating the
company’s accounting numbers for years”.
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.
9.
10.
11.
12. Jobs of over 40000 technocrats were at risk
Country`s economy was at risk.
The GDP fell by 0.4%.
I.T sector suffered a downturn
India`s global image was tarnished.
Indian stock market fell dramatically.
Caused loss to the investors in tune of 14136 cr.
13. Telgi Scam
Karim Abdul Telgi (born in year 1961) is the charged
counterfeiter Indian. He gained money by publishing fake seal
document in Indian.
Telgi shifted to buildings counterfeiting when he started to
fake seal document.
14. He hired 350 people as providers who
marketed the imitations to large buyers, such
as financial institutions, insurance plan
providers, along with share-broking
organizations
The dimension the fraud was approximated
more than 20,000 INR crores.
15. The Commonwealth Games is surrounded by allegations of substantial
amount of corruption.
The Central Vigilance Commission, involved in probing the alleged
corruption in various Commonwealth Games-related projects, has
found discrepancies in tenders and alleged misappropriation
amounting to about Rs 35,000 crore.
16. Among the alleged corruption and defrauding of the games budget, toilet paper rolls valued
at $2 were costed at $80, $2 soap dispensers at $60, $98 mirrors at $220, $11,830 altitude
training simulators at $250,190.
17. Suresh kalmadi
( Siru made
Lakhs)
26 April, 2011
CBI arrest Kalmadi for buying TSR (timing scoring and result)
equipment from a Swiss firm, Swiss Timing, at inflated price of Rs.141
crore for the event.
18.
19.
20.
21. Impact of 2G SCAM
Impact On Telephone Sector
Impact on Consumers
Impact on Economy
22. •Coal allocation scam is a political scandal
concerning the Indian government's allocation of the
nation's coal deposits to Public Sector Entities
(PSEs) and private companies.
•In a draft report issued in March 2012, the
Comptroller and Auditor General of India (CAG)
office accused the Government of India of allocating
coal blocks in an inefficient manner during the
period 2004-2009.
COALGATE SCAM
23. On March 22, the Times of India, broke
the story :
NEW DELHI: The CAG is at it again.
About 16 months after it rocked the UPA
government with its explosive report on
allocation of 2G spectrum and licences, the
Comptroller & Auditor General's draft
report titled 'Performance Audit Of Coal
Block Allocations' says the government has
extended "undue benefits", totalling a
mind-boggling Rs 10.67 lakh crore, to
commercial entities by giving them 155 coal
acreages without auction between 2004 and
2009. The beneficiaries include some 100
private companies, as well as some public
sector units, in industries such as power,
steel and cement.
MARCH-AUGUST 2012: COALGATE GROWS- THE
MEDIA, BJP & THE CBI INVESTIGATION
24.
25. LOKPAL BILL
The Jan Lokpal Bill (Citizen's ombudsman Bill) is a
draft anti-corruption bill drawn up by prominent civil
society activists seeking the appointment of a Jan
Lokpal,
An independent body that would investigate
corruption cases, complete the investigation within a
year and envisages trial in the case getting over in the
next one year.