10 Scams That Knocked India Off Its Feet

5 The 2G Scam
The Telecom Ministry in 2008 under the supervision of A.Raja sanctioned about 122 Licenses of the 2 G Spectrum to 85 companies which also included many new Telecom Companies with non or little experience at a price set in the year 2001.This illegal undercharging to various telecom companies of the allocated 2G licenses for cell phone subscriptions gave way to the 2G spectrum scam. The report prepared by the CAG estimating the scam amount to about Rs 176,000 crore, however, the CBI report estimates it to be Rs 30,984 crore.

6 Satyam
The satyam scam, considered to be the biggest scam in Indian corporate history came out in the early 2009 which shook the Indian stock market. Satyam Computers Chief B. Ramalinga Raju manipulated the accounts which he later confessed. The misrepresentation of the accounts included showing of company’s balance sheet as Rs 5,040 crore and non- existent interest of Rs 376 crore in September 2008. Ultimately the scam that began with misappropriate books and inflated figures led to a loss of Rs 8000 crore suffered by the Stayam chief.

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