Tag: general knowledge

Father of all scams. The issue came to light after the auction of airwaves for 3G services which amounted to 67,719 crore (US\$15.03 billion) to the exchequer. A report submitted by the Comptroller and Auditor General based on the money collected from 3G licenses found that the loss to the exchequer due to under pricing of the 2G spectrum was 176,379 crore (US\$39.16 billion).

All believed that corporate culture has min. of scams. Scam amount 8000 crore one of the biggest in india. How was it done.....the company's balance sheet as of September 30 carries "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 ."

He ran whole financial system without opening companies. He first launched the finance company CRB Capital Markets, followed by CRB Mutual Fund and CRB Share Custodial Services. He ruled like financial wizard 1992 to 1996 collecting money from the public through fixed deposits, bonds and debentures. The money was transferred to companies that never existed

hey availed loans of crores of rupees on behalf of these fictitious societies. The scam was exposed in 1995. The accused created a fictitious cooperative society of cobblers to take advantage of government loans through various schemes. Sohin Daya, son of a former Sheriff of Mumbai, was the main accused in the multi -crore shoes scam. Daya of Dawood Shoes, Rafique Tejani of Metro shoes, and Kishore Signapurkar of Milano Shoes were arrested for creating several leather co-operative societies which did not exist