Here is a list of Top 10 Corruption Scandals in India. In these scandals many politicians and businessman's are involved. Corruption is the use of unethical methods to get some advantages by others. It is one of the big factors of obstructing the development of the individual and country. It affect the growth of individual as well as the nation. Read out the list of some Corruption Scam in India.
Loss to Karnataka government :- more than 16000 crore.
Politicians and Company alleged :- Readdy brothers, Chief Minister Yedurappa, owner of Obulapuram Mining Company in Bellary.
Bellary Mining Scam is a well known Karnataka Mining Scam. Mr. Y.S Reddy gave permission for mining to Reddy brothers and extended the lease period from 2004 to 2017 which was illegal. Reddy brothers allegedly paid bribe to bag mining contracts from Yedurappa.
9. Satyam Scam :-
Loss to company :- 8000 crore.
Company alleged :- Satyam Computers Chief B. Ramalinga Raju.
Satyam Scam is the India's biggest accounting fraud. Satyam Scam is about governance and fraudulent auditing practices allegedly in connivance with auditors and chartered accountants. It was a fraud, which misled the market and other stakeholders by lying about the company's financial health.
8. The Fodder Scam :-
Loss to Bihar State :- 950 crore Rs.
Politicians alleged :- Chief Minister of Bihar Lalu Yadav and Cabinet Minister Jagannath Mishra.
The Animal Husbandry department of the government of Bihar used to supply fodder, medicines, artificial insemination instruments for livestock all over the state. They used to supply less than what was shown on papers or they would not supply anything at all.
7. Telgi Scam :-
Loss to Country :- 20,000 crore Rs.
Alleged persons :- Abdul Karim Telgi and many government officers.
Abdul Karim Telgi is convicted Indian counterfeiter. He earned money by printing counterfeit stamp papers in India. Abdul Karim Telgi sold forged stamp papers worth rs 20,000 crore created by him to banks and government institutions.
6. The Hawala Scandel :-
Worth of Scandal :- more than 1000 crore Rs.
Politicians involved :- P.Shiv Shankar, L.K Advani, V.C Shukla, Shrad Yadav, Balram Jakhar and Madan Lal Khurana.
The Hawala Scandal was a Indian political scandal involving payments allegedly received by politicians through four Hawala brokers, the Jain brothers. It was a shameful scam of India which involve top politicians receiving more than 1000 crore rs in Hawala.
5. Commonwealth Games Scam :-
Loss to Country :- about 35,000 crore Rs.
Politicians Involved :- Suresh Kalmadi and many relatives of Politicians.
Suresh Kalmadi was the chairman of the organising committee of Delhi. It is one of the shameful scam for India. For commonwealth Games 70,000 rupees allocated for the game only half were spend and rest shown on papers.
4. Harshad Mehta Share Market Scam :-
Loss to Nation :- 4000 crore Rs.
Persons Involved :- Harshad Mehta and many other Banking and businessman.
Harshad Mehta was an Indian Stockbroker. He discovered a trend to buy stock before his scam. He used the funds from inter banks transactions to buy shares at a premium across many sectors.
3. 2G Spectrum Scam :-
Loss to Country :- 176,000 crore Rs.
In 2G Spectrum Scam many politicians, Bureaucrats companies are involved. The 2G Spectrum Spam was an Indian telecommunication scam in which license were distributed to various companies on very low rate. Many politicians and businessman were involved in this shameful scam.
2. Caol allocation Scam :-
Loss to Nation :- 186,000 crore Rs.
Politicians involved :- Subodh Kant Sahai, Ajay Sancheti, Nitin Gadkari, Vijay Darda, Naveen Jindal, Manmohan Singh, S Jagathrakshakan and Rajendra Dadra.
Coal Scam is biggest scam in India. Coal mining controversy is major fraud in 2012, which involves rs 1,86,000 crore loss to exchequer.
1. Bofors Scam :-
Scale of Corruption :- 64 crore Rs.
Companies and politicians involved :- Quattrocchi, Rajiv Gandhi, Win Chadha, S.K Bhatnagar and many others.
Bofors Scam was only for 64 crore rs but the nature of scam is related to Indian security and defense and involvement of many politicians leaders like Rajiv Gandhi and other congress party leaders make this as hallmark scam of India.
Corruption is the misuse of public property, position, power and authority for fulfilling the selfish purposes to gain personal satisfactions. These are the Top 10 Biggest Corruption Scandals in India.
Top 10 Biggest Corruption Scams in India:-
10. Bellary Mining Scam :-
Loss to Karnataka government :- more than 16000 crore.
Politicians and Company alleged :- Readdy brothers, Chief Minister Yedurappa, owner of Obulapuram Mining Company in Bellary.
Bellary Mining Scam is a well known Karnataka Mining Scam. Mr. Y.S Reddy gave permission for mining to Reddy brothers and extended the lease period from 2004 to 2017 which was illegal. Reddy brothers allegedly paid bribe to bag mining contracts from Yedurappa.
9. Satyam Scam :-
Loss to company :- 8000 crore.
Company alleged :- Satyam Computers Chief B. Ramalinga Raju.
Satyam Scam is the India's biggest accounting fraud. Satyam Scam is about governance and fraudulent auditing practices allegedly in connivance with auditors and chartered accountants. It was a fraud, which misled the market and other stakeholders by lying about the company's financial health.
8. The Fodder Scam :-
Loss to Bihar State :- 950 crore Rs.
Politicians alleged :- Chief Minister of Bihar Lalu Yadav and Cabinet Minister Jagannath Mishra.
The Animal Husbandry department of the government of Bihar used to supply fodder, medicines, artificial insemination instruments for livestock all over the state. They used to supply less than what was shown on papers or they would not supply anything at all.
7. Telgi Scam :-
Loss to Country :- 20,000 crore Rs.
Alleged persons :- Abdul Karim Telgi and many government officers.
Abdul Karim Telgi is convicted Indian counterfeiter. He earned money by printing counterfeit stamp papers in India. Abdul Karim Telgi sold forged stamp papers worth rs 20,000 crore created by him to banks and government institutions.
6. The Hawala Scandel :-
Worth of Scandal :- more than 1000 crore Rs.
Politicians involved :- P.Shiv Shankar, L.K Advani, V.C Shukla, Shrad Yadav, Balram Jakhar and Madan Lal Khurana.
The Hawala Scandal was a Indian political scandal involving payments allegedly received by politicians through four Hawala brokers, the Jain brothers. It was a shameful scam of India which involve top politicians receiving more than 1000 crore rs in Hawala.
5. Commonwealth Games Scam :-
Loss to Country :- about 35,000 crore Rs.
Politicians Involved :- Suresh Kalmadi and many relatives of Politicians.
Suresh Kalmadi was the chairman of the organising committee of Delhi. It is one of the shameful scam for India. For commonwealth Games 70,000 rupees allocated for the game only half were spend and rest shown on papers.
4. Harshad Mehta Share Market Scam :-
Loss to Nation :- 4000 crore Rs.
Persons Involved :- Harshad Mehta and many other Banking and businessman.
Harshad Mehta was an Indian Stockbroker. He discovered a trend to buy stock before his scam. He used the funds from inter banks transactions to buy shares at a premium across many sectors.
3. 2G Spectrum Scam :-
Loss to Country :- 176,000 crore Rs.
In 2G Spectrum Scam many politicians, Bureaucrats companies are involved. The 2G Spectrum Spam was an Indian telecommunication scam in which license were distributed to various companies on very low rate. Many politicians and businessman were involved in this shameful scam.
2. Caol allocation Scam :-
Loss to Nation :- 186,000 crore Rs.
Politicians involved :- Subodh Kant Sahai, Ajay Sancheti, Nitin Gadkari, Vijay Darda, Naveen Jindal, Manmohan Singh, S Jagathrakshakan and Rajendra Dadra.
Coal Scam is biggest scam in India. Coal mining controversy is major fraud in 2012, which involves rs 1,86,000 crore loss to exchequer.
1. Bofors Scam :-
Scale of Corruption :- 64 crore Rs.
Companies and politicians involved :- Quattrocchi, Rajiv Gandhi, Win Chadha, S.K Bhatnagar and many others.
Bofors Scam was only for 64 crore rs but the nature of scam is related to Indian security and defense and involvement of many politicians leaders like Rajiv Gandhi and other congress party leaders make this as hallmark scam of India.
Corruption is the misuse of public property, position, power and authority for fulfilling the selfish purposes to gain personal satisfactions. These are the Top 10 Biggest Corruption Scandals in India.
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