1) The 2G spectrum scam involved the illegal undercharging of mobile phone companies for licenses. Former Telecom Minister A. Raja favored certain companies in exchange for benefits.
2) Raja resigned after investigations began. The CBI charged Raja and others with fraud and arrested several individuals.
3) The Satyam scandal occurred when its Chairman confessed to falsifying accounts, inflating cash balances and understating liabilities. Tech Mahindra acquired Satyam and the government took steps to support the company.
3. A scam is a dishonest attempt to trap you into parting with your money. A 'scammer' may make a personal approach, with an offer too good to be true. Someone may email you, phone, text-message or post an offer that they press you to take up. Scams can reach their target audience in many ways, ranging from a one-person door-stepping operation, through to multinational highly sophisticated telemarketing scams. Advertisements, direct mail, text messaging, phone calls and e-mail are all widely used. WHAT ARE SCAMS…????
4. However SCAM means when a person tries to deceptively cheat you by first giving you a very good offer about something but later on you would be shocked to know that the person was simply bluffing and you have lost your money. An example of this can be the lottery scam. For example a person calls or emails you and tells you that you have won a lottery prize but to get the money there is a small processing fee, you have to pay that fee and then the money would be sent to you. CONT….
5. 1) 2G Spectrum Scam 2) Commonwealth Games Scam3) Satyam Scam 4)Telgi Scam 5) Bofors Scam 6) The Fodder Scam 7) The Hawala Scandal 8) IPL Scam 9)Harshad Mehta Stock Market Scam 10)Ketan Parekh Stock Market Scam THE TOP SCAMS IN INDIA…
6. What is 2G? 2G is short form for second generation wireless telephone technology which is commercially launched on the GSM standard. The primary benefit of using 2G is the phone conversations were digitally encrypted. Radio signals in 2 G are digital. 2G SPECTRUM SCAM….
7. 2G spectrum scam is illegally undercharging mobile telephone companies for allotting licenses. In India, the politicians who had the authority to sell the license had favoured the companies, by whom they had been benefited. During 2008, 2G licences issued to private telecom players at throw away price. Former Telecom Minister A.Raja has been accuse for the bidding scam. Rules and procedures were broken while issuing the licenses. What is 2G Spectrum Scam…???
8. This Spectrum Scam led the Government a heavy loss of Rs.1.76 lakh crore. Tapes were recorded and leaked by the government authorities, about the conversation with politician and corporates involved in this scam. A. Raja. Mr. Raja, an MP of the DravidaMunnetraKazhagam (DMK) resigned after heavy drama between the Tamilnadu Government and Central (Delhi). CONT….
9. Politicians like A. Raja, the Ex-Minister of Communications and Information Technology . Bureaucrats like Siddhartha Behura, former telecom secretary, PradipBaijal, a bureaucrat who is alleged to have recommended policies that favored certain Telecom companies. Corporations likeUnitech Group, Swan Telecom, Reliance Communications….n many others. Corporate personalities like Anil Ambani - Reliance Group (ADAG), VenugopalDhoot - Videocon Group, PrashantRuia - EssarGroup…n many more. PARTIES INVOLVED IN SCAM…
10. In early November 2010 Telecom Minister A Raja resigned. In response to the various allegations, the Govt of India has replaced the then incumbent Telecom minister, A. Raja with KapilSibal who has taken up this charge in addition to being the Union minister for Human Resources Development The CBI conducted raids on Raja and four other telecom officials - former telecom secretary SiddharthBehura, Raja's personal secretary R K Chandolia, member telecom K Sridhar and DoT deputy director general A K Srivastava on 8 December 2010. RESPONSE TO SCAM….
11. On February 2, 2011, the Central Board of Direct Taxes arrested former Telecommunications Union Minister Andimuthu Raja. The CBDT also arrested R.K. Chandolia, Raja's personal aide, and SiddharthBehura, the former Telecom Secretary On April 2, 2011, the CBDT filed its first 80,000 page chargesheet in the 2G spectrum scam before a Special Court in Delhi naming nine individuals and three companies. The accused include the following individuals:[32] AndimuthuRaja, former Telecom minister SiddharthBehura, former Telecom Secretary R.K. Chandolia, Raja's former personal secretary ShahidUsmanBalwa, former Director of Swan Telecom (now Etisalat DB) Sanjay Chandra, Managing Director of Unitech Ltd and Unitech Wireless GautamDoshi, Group MD, Reliance Anil DhirubhaiAmbani Group HariNair, Senior Vice-President, Reliance Anil DhirubhaiAmbani Group SurendraPipara, Senior Vice-President, Reliance Anil DhirubhaiAmbani Group and Reliance Telecom Ltd VinodGoenka, Director, Swan Telecom (now Etisalat DB) CHARGES SHEETS….
12. The first casualty in Stock Markets once Raja was arrested was DB Realty. 20% fall in the stock prices of DB Realty. Sun TV had its shares fall by 10%. Sun TV COO refused the allegations. Swan Telecom Chief Balwa was arrested on Feb 8 and this led to rumours of links with Anil Ambani's Reliance ADAG and it led to 20% fall of his stocks . Its reported that nearly 2 Billion USD was eroded from his stocks . Spicejetstocks went down after reports of investigation on Maran's recent takeover of Spicejet. IMPACTS ON STOCK MARKETS….
15. An understated liability of Rs. 1,230 crore on account of funds was arranged by himself. SATYAM SCAM….
16. Raju was probably convinced that the gap in balancesheet reached unmanageable proportions and could not be filled anyhow in future. WHY DID RAJU CONFESS….???
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18. Undoubtedly, this is going to hurt the prospects of foreign money flowing into India.
21. ON EMPLOYEES : 53,000 Employees of Satyam Computers were unemployed ON SHAREHOLDERS : The share prices of Satyam saw a sharp fall after Raju’s confession. The share prices fell down from 190 to 30 (approximately) in a matter of a day. ON GOVERNMENT : The government too is equally guilty in not having managed to save the shareholders, the employees and some clients of the company from losing heavily. CONT….
22. Tech Mahindra paid Rs1757 Crorefor a 31% stake in the company, at Rs 58 per share. TAKE OVER OF SATYAM….
23. The Indian Government has stated that it may provide temporary direct or indirect liquidity support to the company Govt. has appointed new board of members for Satyam consisting of heavy weights from India's corporate sector. Satyam is seeking bank loans to help cover salaries and other operating expenses INDIA’S STEP TO SAVE SATYAM….
24. The CBI brought charges against B. RamalingaRaju and eight others in the Satyam fraud case. The investigating agency filed the 300-page chargesheet in the designated court here against Raju, his brothers SuryanarayanaRaju and Rama Raju and six others. The CBI charged the accused under sections 120-B (criminal conspiracy), 420 (cheating), 419 (cheating by personation), 467 (forgery of valuable security), 468 (forgery for the purpose of cheating), 471 (using forged documents as genuine), 477-A (falsification of accounts) and 201 of IPC (causing disappearance of evidence). CHARGES AGAINST RAJU….
