Using your phone's internet browser
go to:  qna.rediff.com
Click and drag this link to
the Home icon in your browser.
Q.

Which is the largest scam as on date in India?

Tags: india, sports, education
Asked by hitler, 26 Oct '09 06:37 pm
  Invite a friend  |  
  Save  |  
 Earn 10 points for answering
Answer this question  Earn 10 points for answering    
4000 characters remaining  
  
    
Keep me signed inNew User? Sign up

Answers (13)

1.

The biggest corporate scam in India was perpetrated by one of the most respected businessmen Satyam founder Byrraju Ramalinga Raju. He had to resign as its chairman after admitting to cooking up the account books. His efforts to fill the "fictitious assets with real ones" through Maytas acquisition failed, after which he decided to confess the crime.

The fraud involed about Rs 8,000 crore (Rs 80 billion). Satyam, India's fourth largest IT company had lost a staggering Rs 10,000 crore (Rs 100 billion) in market capitalization as investors reacted sharply and dumped shares, pushing down the scrip by 78 per cent to Rs 39.95 on the Bombay Stock Exchange.

The company's balance sheet as of September 30 carried "inflated (non-existent) cash and bank balances of Rs 5,040 crore (Rs 50.40 billion) as against Rs 5,361 crore (Rs 53.61 billion) reflected in the books.
Answered by Jack Johnson, 26 Oct '09 09:31 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
2.

The Satyam Computer Services fraud is neither the first nor will it be the last corporate scam to have hit India, so investors must be on guard and ask for more information before making any investment decision, says former Sebi chairman M Damodaran.
Answered by Prasoon Sinha, 26 Oct '09 06:38 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
3.

Stamp Paper Scam by Abdul Karim Telgi (32,000 Cr.)
Answered by Anil K Chugh, 27 Oct '09 03:33 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received
4.

Telgi Stamp Paper scam / Satyam Computer Scam / Bofors Gun Deal
Answered by Vishwanath V, 27 Oct '09 10:02 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
5.

The present scam in the Telecom department which is still being tried to be brushed off under the carpet - around 64000 crores is the amount announced
Answered by rajnikant raiyarela, 27 Oct '09 08:20 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
6.

Bofors deal *& Octavio QUatarrouchi. While ppl expect graft & corrpution to happen in civilian life, seeing them happen in the ARmy was a true spine thrilling shocker (and not in a good or "thrilling" way).
Answered by A Moin, 27 Oct '09 08:18 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
7.

The scams unparallel in Indian history are those carried out by late Dr YSR and his family to the tune of 75,000 crores in 4.5 years during his rule as CM of AP. Scams are Jalayagnam, Satyam, Maytas, leasing of iron ore mines, krishnapatnam port, hyd metro, land grabbings in Hyd and Vizag, Brahmani steels, Tandur Power, sakshi paper etc etc. All these he could manage in 4.5 years and taking rest in hell or heaven no idea.
Answered by Chinna, 27 Oct '09 05:50 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
8.

It wil not finished there is no stop for the scam arshad mehta was the largest
Answered by shaikh mohamed, 27 Oct '09 03:45 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
9.

Spectrum Scam by Minister A Raja which brought loss to DOT/Government for 60000 Crores and much more (7000 Crores per spectrum), most corrupted Minister and still got the same Ministry second term, Is Sonia Gandhi also involved in it that she gave same Portfolio to Raja. Gandhi Family only knows the truth If this continues then the day is not far when Arunachal Pradesh will be sold to China for Trillion Dollars and Money put in Swiss Bank and we Indians will not be even aware of that . Not to forget the recent few months old Satyam Saga.
Answered by koena, 27 Oct '09 03:19 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
10.

I don't know .
Answered by Manisha Tirkey, 27 Oct '09 01:26 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
Previous

Ask a Question

Get answers from the community

600 characters remaining

Related Answer

Q.
A

No , Never I want to attain anything without any work . because I want to feel the divine enjoyment after the creation ...more

Answered by gouri ghosh