Widely publicized bribery scandal which came out in 1996. It involved payments to the tune of $18 million received by Country’s leading politicians through hawala brokers. The list of accused included the then leader of the opposition Lal Krishna Advani.
More commonly known as the “Chara Ghotala”, this scam was worth a whooping 900 core and involved the infamous and forever popular Bihar politician Lalu Prasad Yadav. The scam involved fabrication of “vast herds of fictitious livestock” for which fodder, medicine and animal husbandry equipment was supposedly procured.
In1995, Sohin Daya of Dawood Shoes, Rafique Tejani of Metro Shoes, and Kishore Signapurkar of Milano Shoes were arrested in this multi-crore shoes scam on the charges of availing loans of crores of rupees on behalf of fictitious leather co-operative societies and taking advantage of these through various schemes.
Popularly known as the Big Bull, Harshad Mehta took advantages of the loopholes in the banking system and triggered a rise in the Bombay Stock Exchange in the year 1992. He and his associates diverted funds to the tune of about Rs 5,000 crore (Rs 50 billion) from the banks to stockbrokers.
The Bofors scandal is known as the hallmark of Indian corruption. In the 1980s,the then PM Rajiv Gandhi and several others including a powerful NRI family named the Hinduja's, were accused of receiving kickbacks from Bofors AB for winning a bid to supply India’s 155 mm field howitzer. $16 million were allegedly paid to members of PM Rajiv Gandhi’s Congress.
A lot of the IPL activity has been alleged to be unethical, unlawful and sometimes illegal. Politicians and others are said to be laundering black money via Mauritius and other tax havens which hide investors’ identities through shell companies and false names. Lalit Modi, creator and chairman of the IPL and former vice president of the highly politicised Board of Control for Cricket in India (BCCI).
Satyam scam is the biggest fraud in the Indian corporate industry till date, amounting to 14,000 crore. The disgraced former chairman, Ramalinga Raju is accused of fudging the books of accounts for several years and inflating revenues and profit figures of Satyam.
Abdul Karim Telgi, who shook the entire nation with his mastered art of forgery in printing duplicate stamp papers. The scam spanned across 12 states and estimated to the amount of 20,000 crore plus.
common Wealth Games hosted by India in 2010, the grand event was soaked in the allegations of corruption. Estimated to be involving money worth close to 35,000 crore, the scam included discrepancies 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
This is THE mother of all scams. The incident saw former telecom minister A Raja being forced to resign after the CAG indicted him in the 2G spectrum scam that resulted in a loss of about 176,000 core to the national exchequer. The scandal revolves around the alleged irregularities in allotting wireless radio spectrum and licences by the telecom ministry to private operators — some of whom were ineligible.