final presentation of scams siddanna m balapgol

1. Harshad Mehta Scam

PRESENTED BY: ASHISH PATIL (Finance)

Agenda

•Economic & Market position before the scam

•About Harshad Mehta

•Modus Operandi

•Impact of scam

•Regulatory Actions Taken Against Mehta

•Conclusion

Economic & Market position before the scam

Licensing system

No permission for Liberalization, Privatization, Globalization

Government intervention in business

There were no permission for FII’s & FDI’s

There was not specific act passed for SEBI by the parliament

Open-Outcry system

No Circuit Breakers

Harshad MehtaName: Harshad Shantilal Mehta

Born in: 29 July 1953

Died in: 31 December 2001

Profession: Stockbroker

He earned degree in Bachelor of Commerce

In the early eighties he quit his job and sought a job with stock broker P. Ambalal affiliated to Bombay Stock Exchange

Started his working life as an employee of the New India Assurance Company

He took advantages of loopholes in banking system

He triggered SENSEX in 1992 & made the scam by diverting funds of Rs.4,000 crore

Exposure of 1992 Securities Scam

On April 23, 1992, journalist Sucheta Dalal exposed Mehta's scam

She is columnist in Times Of India

Sucheta Dalal

The Instruments were used in Scam

Mehta had used 2 instruments in this scam

1)Ready Forward Deal

2)Bank Receipts

Ready Forward Deal

A secured short-term (typically 15-day) loan from one bank to another

Bank lends against government securities

A broker usually brings together two banks for which he is paid a commission

The securities and payments were delivered through the broker in the settlement process

In such settlement the banks may not know with whom they are dealing

The process of RF

Settlement Process

Payment of cheques

Dispensing of securities

Bank ReceiptsIn a RF deal securities were not moved back

and forth in actuality

The borrower, i.e. the seller of securities, gave the buyer of the securities a Bank Receipt

In this scam Bank of Karad & Metropolitan Co-operative Bank had issued fake BR

Modus Operandi

Borrower bankBroker

Harshad Mehta Lender bank

Issue fake BR

Funds

Impact Of Scam On Market

Impact on othersMehta had by then swindled the banks of a

staggering Rs 4,000 crore

Bribery case on P. V. Narsimha Rao

Stay on Liberalisation

Holding banks of fake BR had to face losses

BR was removed by RBI

The chairman of the vijaya bank committed suicide over

Regulatory Actions Taken Against Mehta

He was later charged with 72 criminal offenses, and more than 600 civil action suits were filed against him

He was arrested and banished from the stock market

Mehta and his brothers were arrested by the CBI on November 9, 1992 for allreadly misappropriating more than 27 lakh shares of about 90 companies

Conclusion Harshad Mehta was brave stock

broker. He knew the loopholes in banking system as well as how to exploit that loopholes. His whole intension to do this was to rise in SENSEX.

2.THE COAL ALLOCATION SCAM

PRESENTED BY: GEETALI JOSHI (HR)

WHAT IS THE BASIC ISSUE?

Coal allocation scam is a political scandal concerning the Indian government's allocation of the nation's coal deposits to Public Sector Entities (PSEs) and private companies.

In a draft report issued in March 2012, the Comptroller and Auditor General of India (CAG) office accused the Government of India of allocating coal blocks in an inefficient manner during the period 2004-2009.

1972-2010- BACKGROUND TO COALGATE: HISTORY OF

COALALLOCATIONS IN INDIA

FIRMS ELIGIBLE FOR A COAL ALLOCATION

Historically, the economy of India could be characterized as broadly socialist, with the government directing large sectors of the economy through a series of Five-year Plans.

In keeping with this centralized approach, between 1972 and 1976, India nationalized its coal mining industry, with the state-owned companies Coal India limited(CIL) and Singareni Collieries Company (SSCL) being responsible for coal production.

T H I S P R O C E S S C U L M I N AT E D I N T H E E N A C T M E N T O F T H E C O A L M I N E S ( N AT I O N A L I S AT I O N ) A M E N D M E N T A C T, 1 9 7 6 , W H I C H T E R M I N AT E D C O A L M I N I N G L E A S E S W I T H P R I VAT E L E A S E H O L D E R S . E V E N A S I T D I D S O , H O W E V E R , PA R L I A M E N T R E C O G N I Z E D T H AT T H E N AT I O N A L I Z E D C O A L C O M PA N I E S W E R E U N A B L E T O F U L LY M E E T D E M A N D , A N D P R O V I D E D F O R E X C E P T I O N S , A L L O W I N G C E RTA I N C O M PA N I E S T O H O L D C O A L L E A S E S :

1 9 7 6 . C A P T I V E M I N E S O W N E D B Y I R O N A N D S T E E L C O M PA N I E S . 1 9 9 3 . C A P T I V E M I N E S O W N E D B Y P O W E R G E N E R AT I O N

C O M PA N I E S .2 0 0 7 : C A P T I V E M I N I N G F O R C O A L G A S I F I C AT I O N A N D L I Q U I D

FA C T I O N .

THE COAL ALLOCATION PROCESS

In July 1992, Ministry of Coal, issued the instructions for constitution of a Screening Committee for screening proposals received for captive mining by private power generation companies.

The Committee was composed of government officials from the Ministry of Coal, the Ministry of Railways, and the relevant state government.

A number of coal blocks, which were not in the production plan of CIL and SSCL, were identified in consultation with CIL/SSCL and a list of 143 coal blocks were prepared and placed on the website of the MoC for information of public at large.

Companies could apply for an allocation from among these blocks. If they were successful, they would receive the geological report that had been prepared by the government, and the only payment required from the allocatee was to reimburse the government for their expenses in preparing the geological report.

T H E G U I D E L I N E S F O R T H E S C R E E N I N G C O M M I T T E E S U G G E S T T H AT P R E F E R E N C E B E G I V E N T O T H E P O W E R A N D S T E E L S E C T O R S ( A N D T O L A R G E P R O J E C T S W I T H I N T H O S E S E C T O R S ) .

T H E Y F U R T H E R S U G G E S T T H AT I N T H E C A S E O F C O M P E T I N G A P P L I C A N T S F O R A C A P T I V E B L O C K , A F U R T H E R 1 0 G U I D E L I N E S M AY B E TA K E N I N T O C O N S I D E R AT I O N :

S TAT U S ( S TA G E ) L E V E L O F P R O G R E S S A N D S TAT E O F P R E PA R E D N E S S O F T H E P R O J E C T S ;N E T W O R T H O F T H E A P P L I C A N T C O M PA N Y ( O R I N T H E C A S E O F A N E W S P / J V, T H E N E T W O R T H O F T H E I R P R I N C I PA L S ) ;P R O D U C T I O N C A PA C I T Y A S P R O P O S E D I N T H E A P P L I C AT I O N ;M A X I M U M R E C O V E R A B L E R E S E R V E A S P R O P O S E D I N T H E A P P L I C AT I O N ;D AT E O F C O M M I S S I O N I N G O F C A P T I V E M I N E A S P R O P O S E D I N T H E A P P L I C AT I O N ;D AT E O F C O M P L E T I O N O F D E TA I L E D E X P L O R AT I O N ( I N R E S P E C T O F U N E X P L O R E D B L O C K S O N LY ) A S P R O P O S E D I N T H E A P P L I C AT I O N ;T E C H N I C A L E X P E R I E N C E ( I N T E R M S O F E X I S T I N G C A PA C I T I E S I N C O A L / L I G N I T E M I N I N G A N D S P E C I F I E D E N D - U S E ) ;R E C O M M E N D AT I O N O F T H E A D M I N I S T R AT I V E M I N I S T R Y C O N C E R N E D ;R E C O M M E N D AT I O N O F T H E S TAT E G O V E R N M E N T C O N C E R N E D ( I . E . , W H E R E T H E C A P T I V E B L O C K I S L O C AT E D ) ;T R A C K R E C O R D A N D F I N A N C I A L S T R E N G T H O F T H E C O M PA N Y.

COAL ALLOCATION GUIDELINES

RESULTS OF COAL ALLOCATION PROGRAM

Given the inherent subjectivity in some of the allocation guidelines, as well as the potential conflicts between guidelines it is unsurprising that in reviewing the allocation process from 1993 to 2005 the CAG says that "there was no clearly spelt out criteria for the allocation of coal mines.”

2005: the Expert Committee on Coal Sector Reforms provided recommendations on improving the allocation process,

2010: the Mines and Minerals (Development and Regulation) Act, 1957 Amendment Bill was enacted, providing for coal blocks to be sold through a system of competitive bidding.

The foregoing supports the following conclusions: The allocation process prior to 2010 allowed some firms to obtain valuable coal blocks at a

nominal expense The eligible firms took up this option and obtained control of vast amounts of coal in the

period 2005-09 The criteria employed for awarding coal allocations were opaque and in some respects

subjective.

MARCH 2012: COALGATE EXPLODES- THE DRAFT REPORT

OVERVIEW

The CAG report is a performance audit focusing on the allocation of coal blocks and the performance of Coal India in the 2005-09 period. The Draft Report, stretching to 110 pages—far more detailed and containing more explosive allegations than the toned-down Final Report of some 50 pages—was the document that sparked the Coalgate furore. The Draft Report covers the following topics:

Overview (pp. 1–2) Audit Framework (pp. 3–4) Institutional Framework (p. 5-10) Gaps in Supply and Demand (p. 11-17) Coal Blocks-Allocation and Production Performance (p. 18-55) Production Performance of CIL (p. 56-83) Conclusion and Recommendations (pp. 84–88) Annexure (pp. 89–110)

FIRST CAG CHARGE

The most important assertion of the CAG Draft Report : Government had the legal authority to auction the coal, but chose not to do so.

Any losses as a result of coal allocations, then, between 2005 and 2009 are seen by the CAG as being the responsibility of the Government.

SECOND CAG CHARGE

If the most important charge made by the CAG was that of the Government's legal authority to auction the coal blocks, the one that drew the most attention was certainly the size of the "windfall gain" accruing to the allocatees. On pp. 32–34 of the Draft Report, the CAG estimates these to be 1,067,303 Crore.

MARCH-AUGUST 2012: COALGATE GROWS- THE MEDIA, BJP & THE CBI INVESTIGATION

On March 22, the Times of India, broke the story :

NEW DELHI: The CAG is at it again. About 16 months after it rocked the UPA government with its explosive report on allocation of 2G spectrum and licences, the Comptroller & Auditor General's draft report titled 'Performance Audit Of Coal Block Allocations' says the government has extended "undue benefits", totalling a mind-boggling Rs 10.67 lakh crore, to commercial entities by giving them 155 coal acreages without auction between 2004 and 2009. The beneficiaries include some 100 private companies, as well as some public sector units, in industries such as power, steel and cement.

ALLEGATIONS MADE AGAINST:

S. JAGATHRAKSHAKAN: In September 2012, several news reports alleged that family of S Jagathrakshakan, Minister of State for Information and Broadcasting in the UPA government is a part of a company named JR Power Gen Pvt Ltd. which was awarded a coal block in Orissa in 2007.

It was the same company which formed a joint venture with a public sector company, Puducherry Industrial Promotion Development and Investment Corporation (PIPDIC), on January 17, 2007. Barely five days after, PIPDIC was allotted a coal block.

According to the MoU, JR Power enjoyed a stake in this allotment. However, JR Power had no expertise in thermal power, iron and steel, or cement, the key sectors for consumption of coal. Later, in 2010, JR Power sold 51% stake to KSK Energy Ventures, an established player with interests in the energy sector.

In this way, the rights for the use of the coal block ultimately passed on to KSK

AJAY SANCHETI: Ajay Sancheti's SMS Infrastructure Ltd. was allegedly allocated coal blocks in Chhattisgarh at low rates. He is a BJP Rajya Sabha MP and is believed to be in close relation with Nitin Gadkari.

According to the CAG, the allocation of the coal block to SMS Infrastructure Ltd. has caused a loss of Rs. 1000 crore.

PREMCHAND GUPTA:

UPA partner Rashtriya Janata Dal’s leader Premchand Gupta's sons' company, new in the steel business applied for a coal block when Premchand Gupta was the Union minister for corporate affairs and bagged it about a month after his tenure ended along with that of his government.

The company in question is IST Steel & Power - an associate company of the IST Group, which is owned and run by Premchand Gupta’s two sons Mayur and Gaurav. IST Steel, along with cement majors Gujarat Ambuja and Lafarge, was allocated the Dahegaon/Makardhokra IV block in Maharashtra.

The company, which applied for a block on January 12, 2007, and was awarded it on June 17, 2009, is sitting on reserves of 70.74 million tonnes. The reserves it controls are more than the combined reserves held by much larger companies - Gujarat Ambuja and Lafarge.

Mr Gupta maintains he had no involvement in IST Steel and denies influencing the coal-block allocation process.

NAVEEN JINDAL:

Jindal Steel and Power got a coal field in February 2009 with reserves of 1500 million metric tones while the government-run Navratna Coal India Ltd. was refused.

On February 27, 2009, two private companies got huge coal blocks. Both the blocks were in Orissa and while one was over 300 mega metric tones, the other was over 1500 mega metric tones. Combined worth of these blocks was well over Rs 2 lakh crore and these blocks were meant for the liquefaction of coal.

One of these blocks was awarded to Jindal. Naveen Jindal's Jindal Steel and Power was the company which was allotted the Talcher coal field in Angul in Orissa in 2009, well after the self-imposed cut off date by the Centre on allocation of coal blocks.

The Opposition alleged that the Government violated all norms to give him coal fields. Naveen Jindal, however, denied any wrongdoing.

On 15 September 2012, an Inter Ministerial Group (IMG) headed by Zohra Chatterji (Additional Secretary in Coal Ministry) recommended cancellation of a block allotted to JSW (Jindal Steel Works), a Jindal Group company.

Naveen Jindal's company has filed an FIR against Zee Business channel for allegedly demanding Rs 50 crore for not doing a news story on coal scam.

As per the FIR, the HR head of the Jindal company has alleged that Sudhir Chaudhry and Sameer Ahluwalia met officials of the Jindal Group and told them that they had stories against them which could be dropped if a certain amount of money was paid.

The official alleged that when the company refused to pay, the channel ran a series of malicious news items targeting the Jindals.

BJP RESPONSE

In response to the Times of India story there was an uproar in Parliament, with the BJP charging the government with corruption and demanding a court-monitored probe into coal allocations:

The BJP governments themselves were embroiled in this, since the states ruled by BJP had also opposed public auctions of the mines

CBI INVESTIGATION

On 31 May 2012, Central Vigilance Commission(CVC) based on a complaint of two BJP Member of Parliament Prakash Javadekar and Hansari Ahir directed a CBI enquiry.

There were leaks of the report in media in March 2012 which claimed the figure to be around 1,060,000 crore. It is called by the media as the Mother of all Scams.

Discussion about the issue was placed in the Parliament on 26th Aug, 2012 by the Prime Minister Manmohan Singh with wide protests from the opposition.

According to the Comptroller and Auditor General of India, this is a leak of the initial draft and the details being brought out were observations which are under discussion at a very preliminary stage.

On 29 May 2012, Prime Minister Manmohan Singh offered to give up his public life if found guilty in this scam.

FORMATION OF INTER-MINISTERIAL GROUP (IMG)

At the end of June 2012, coal ministry decided to form an Inter-Ministerial Group (IMG), to decide on either de-allocation or forfeiting the Bank Guarantees (BG) of the companies that did not develop allotted coal blocks.

Zohra Chatterji, additional secretary, coal ministry was named as Chairman of the IMG. Other IMG members include representatives from power, steel, departments of economic affairs, industrial policy and promotion, and law and justice.

Significantly, the decision was taken after the CVC had already ordered a CBI enquiry into alleged irregularities.

THE CAG FINAL REPORTOVERVIEW

On 17 August the CAG submitted its Final Report to Parliament. Much less detailed than the Draft Report, the Final Report still made the same charges against the government:

The Government had the authority to auction the coal blocks but chose not to.

As a result allocatees received a "windfall gain" from the program.

The Final Report had the following outline: Preface (pp. i-ii). Executive Summary (pp. iii-viii) Chapter 1. Coal—An Overview (pp. 1–6) Chapter 2. Audit Framework (pp. 7–8) Chapter 3. Augmentation of Coal Production (pp. 9–20) Chapter 4. Allocation of Captive Coal Blocks (pp. 21–

32) Chapter 5. Productive Performance of Captive Coal

Blocks (pp. 33–42) Chapter 6. Conclusion and Recommendation (pp. 43–

45)

FIRST CAG CHARGE

The CAG continued its contention that the Government had the legal authority under the existing statute to auction coal by making an administrative decision, rather than needing to amend the statute itself.

The CAG draws the following conclusions:

In the period between July 2006 and the end of 2009, 38 coal blocks were allocated under the existing process of allocation, "which lacked transparency, objectivity, and competition.”

SECOND CAG CHARGE

The biggest change from the Draft Report was the dramatic reduction in the windfall gains from 1,067,303 Crore to 185,591 Crore.

This change is due to:windfall gain/ton decreased 8% from 322 in the Draft

Report to 295 in the Final Reportnumber of tons decreased 81% from 33.169 to 6.283

billion metric tons of coal. This is because the Final Report considers "extractable coal" (i.e. coal that could actually be used in production) as against the Draft Report, which considered coal in situ (i.e. coal in the ground without taking into account losses that occur during mining and washing the coal).

CAG REPORTS VS. GOVERNMENT RESPONSE

•Pvt. firm gain Rs. 1.86 lakh crore after blocks given by “nomination”.

THE LOSS

•Despite repeated advice from Law ministry, competitive bidding delayed.

THE DELAY

•After being advised to proceed with auctioning, Coal Ministry wasted time.

THE AUCTION

CAG’s figure misleading. Of the 57 blocks cited, only one operational.

Ministry took time to clarify for bidding, MMDR Act needed changes.

Oppositions from stated like Chhattisgarh, Rajasthan and Bengal caused delay.

CAG’S REPORT GOVT. RESPONSE

SEPTEMBER 2012: COALGATE REACHES SUPREME COURT OF INDIA

Advocate M L Sharma filed a Public Interest Litigation(PIL) in the Supreme Court seeking to cancel the allotment of 194 coal blocks on grounds of arbitrariness, illegality, unconstitutionality and public interest.

Defending the CAG, a Supreme Court bench of Justices R M Lodha and A R Dave dismissed the Solicitor General Rohinton Nariman’s

objections that petition relies heavily on the CAG report by saying, the CAG is a "constitutional authority" and that its report is "not a piece of trash.”

Moreover, the court ordered the government to inform it of reasons for not following the 2004 policy of "competitive bidding" for coal block allocation. The apex court wanted to know not only the steps that have been taken but also proposed against companies that have breached the agreement.

MONSOON SESSION BEGINS

The Parliament session, scheduled from August 8,2012 to September 7,2012, was expected to meet for 20 sittings with the agenda listing 29 pending bills for consideration.

The government had planned to introduce 15 new bills. Initially proceedings were disrupted over the violence in

Assam and concern over exodus of Northeast students, the latter half has been washed off with BJP's adamant stand demanding PM Manmohan Singh's resignation over Coalgate.

So far, during the budget and monsoon sessions, Parliament has passed 16 bills in 2012

AUDITOR’S EYE ON POWER FIRMS

WHY THE HEAT IS ON RELIANCE?

Reliance Power is Developing a 4000 MW Plant under Ultra Mega Power Project at Sasan in Madhya Pradesh and was allotted two captive coal blocks- Moher and Moher- Almohri, in September 2006 for the project.

In Nov. 2007, MP Chief Minister requested PM to allow Reliance to use surplus coal from the captive blocks of the Sasan UMPP for another Power Project being developed by the company at Chitangi in the state.

The Matter was referred to an Empowered Group of Ministers (EGOM). It recommended that Reliance be allowed to use surplus coal from blocks allotted for Sasan for the other Project.

The Sasan Plant was then allotted a third coal-block, Chhatrasal in October 2006 to meet its coal requirement of 16million tonne/year

WHY HAS CAG RAISED QUESTIONS?

CAG says Anil Ambani owned Reliance power got undue

benefit of Rs. 29,033 crore when govt. allowed use of surplus coal

from blocks allotted to Sasan Power Plant for its other project.

Why was a third mine allocated to Sasan Project by snatching it from State-owned NTPC, when it

was not established that two previous mines would be

insufficient to generate 3,960 MW of Power.

Chitrangi Plant would supply power at higher tariff Rs.2.45-Rs.3.702 per unit than Sasan’s

Rs.1.196 per unit, though it would get coal at same price as

Sasan’s UMPP.

COMPANY’S DEFENCE

No condition was violated.

The decision of permitting use of surplus coal for

power generation was ratified by

EGOM.

Audit Observations do not completely

take into account the extant policy and

precedents.

Reliance Power had no role in allotment of coal-reserves to

Sasan UMPP.

OBSERVATIONS

Government unduly benefitted Private Power Developers in awarding of UMPP’s.

Developers misused and diverted coal made available to them.Of the four UMPP’s currently operational, three are owned by

Anil Ambani’s Reliance Power (RPL) and one by Tata power.Mundra and Krishnapatnam UMPP’s have land in excess of

1538 acres and 1096 acres.EGOM allowed the excess land to be retained by the

developers instead of utilizing the same for other public purpose.

3. 2G SPECTRUM

PRESENTED BY: PRIYANKA GUPTA (FINANACE)

NETWORK SUPPLIERS

2G SCAM

2 G is a network service which was supposed to be launched in India for which the network provides such as vodaphone,100p/ Bpl, Reliance, airtel,docomo etc had to be approved by the government of India to hold the licence for the bandwidth which is used for the 2g service and for this licence the politicians of India have said to be taken some brible just to give the licence

A RAJA( Andimuthu Raja)

It is an Indian politician from the Dravida Munnetra Kazhagan (DMK) . He was a member of the 13 th loksabha representing the Nilgris constituency of Tamil nadu

PARTIES INVOLVEMENT

The shortfall between the money that the law mandated to be collected is estimated to be RS 1766.45 Billion (US$29 Billion )as valued by the comprtroller and auditor,General of India based on 3G and BWA spectrum Auction prices in 2010.

For example: the 3G facility allow us to stream videos from the internet from the cellphone for live streaming the internet usage amount is high hence they require particular licence from the government to allow them to use similarly the 2G required a licence for which a bribe had been demanded by the politicians which has now been expored this.

The supreme court Declared the allotment of spectrum Court Declared the allotment of spectrum as

“ unconctitutional and arbitary and quashed all 122 licence issued in 2008 during the Tenure of Raja ( then minister for communication & IT from 2007 to 2009

May 2007: Raja takes over as telephone minister

Aug 2007: process of allotment of 2G spectrum for telecom along with universal access service (UAS) licence initiated by the department of telecommunication( DOT)

25 sep 2007: Telecome ministry issues press Note fixing deadline for Application as 1 oct 2007

NEWS

9. KBC SCAM

PRESENTED BY: KANCHAN THUBE (HR)

KBC Multi Trade Pvt Ltd

Plot No.1, ShreeRam Nagar,Mumbai Agra Highway, Opp.SBI Adagaon

Branch,Panchavati, Nashik

• He first lost some money in a multi level company but he realized the evil MLM empire he could Himself build.

• He first founded a company called DBC multi-level marketing company pvt. Ltd.

• He had tasted success and this led to the establishment of KBC multi trade pvt. Ltd in year 2010.

Benefits for Agents

List of impressive benefits that can draw anyone to take up their agency 20-30% in commissions

upfront for all money brought into the scheme.

Make seven members and get a free trip to Mumbai.

Make 36 members and get a free trip to Goa

Make 81 members and get additional Rs 5,000/-per month.

Make 250 members and get additional Rs.10,000/- per month.

Make 12,500 members and get a bungalow worth Rs. 51 Lakhs as additional benefit.

Make 25,500 members and get a cash prize of Rs. 1 Crore as additional benefit. The company also

publically facilitated at least 100 agents who had got them deposits of more than Rs. 1 Crore.

What was the KBC Scheme?Benefits for Investors

Promise to double money before 3 years (30 month period).

People were asked to invest Rs. 7,200/- or Rs.17,200/- or Rs. 57,200/- or Rs. 86,000/- Assuring a three-times return in less than three years, reports suggest the pay back were through postdated cheque to make it look credible.

Sample this offer:

Invest Rs. 86,000/- now

Get Rs. 86,000/- after six months

Get Rs. 86,000/- after eighteen months.

Then finally get Rs. 86,000/- after thirty months. Thus giving huge three times returns in 30 months.

5.Augusta Westland's - The VVIP Chopper Scam

Ankush Deshmukh (IB)

Why AW VVIP chopper?

About - Augusta Westland's

One of the Leading designer of helicopters in the world.

Italian by origin.Leading producer in European region

related to all kinds of helicopters such as:1)fighter helicopters.2)Drones.2) helicopters for tourism purposes. 3)specialist designer of luxurious VVIP

helicopters making.

Why India decided to buy new helicopters?

India having old helicopters.Accidents prone old helicopters.Use of old helicopters was proving dangerous

for VIP personnel's.Hence there is need to have compact

helicopters for transporting VVIP personnel's in India.

Hence Indian government decided to buy AW 109 helicopter & signed approx 4000 CR deal.

AN INFAMOUS AUGUSTA WESTLAND SCAM personnel's involve in AW VVIP scam taken a

bribes for success of deal.

Events & EvidencesKey advisers of vvipdeal

Events & Evidences

The note also contains codes the bribes to be paid out divided as

1), "AF" €6 Million2)"BUR" €8.4 Million3)"Pol" €6 Million 4) "AP" €3 Million.

Confirmation from defense minister "Yes, corruption has taken place in the helicopter deal and bribes have been taken –AK Anthony defense minister of India

Case handover to Central Bureau of Investigation (CBI)

CBI IN ACTION

CBI taken it vigorously and GOI able to recovered 45% of amount that is 2068 Cr.

And has recovered the entire amount of around INR1620 Cr (45% of total contract value INR3600 Cr) it had paid to Augusta Westland.

FIR & ENQUIRY

First Information Report (FIR) By defense minister.

After a huge controversy and allegations of corruption, Defense Minister A.K. Antony, on 12 February, ordered an investigation by the Central Bureau of Investigation (CBI).

CBI registered a preliminary enquiry against 11 persons and confirmation of there involvement in scam.

CBI DISCOVERS DIRTY LINK.

MAIN SUSPECT MR.SP TYAGI

- FORMER IAF OFFICER

Suspects behind the barsPERSONS

Suspects behind the barsORGANISATIONS

The FIR also named four companies – 1)Italy-based Finmeccanica,2)UK-based AugustaWestland 3)Chandigarh-based IDS Infotech 4) Aeromatrix.[17][18]

6.Ipl Scampresented by: priyanka gaikwad (hr)

7. Satyam Scam

Nothing is right on leftNothing is left on right

PRESENTED BY: POOJA HIRE (HR)

Introduction

satyam computer services was founded in 1987 by ramalinga Raju.

It offers consulting, information technology

services, engineering, product development etc.

Company unveiled its new brand identity

“Mahindra satyam”.

INTRODUCTION

The company was listed with new York stock exchange, national stock

exchange and mumbai stock exchange.

The company was listed with new York stock exchange, national stock

exchange and mumbai stock exchange.

8. COMMON WEALTH GAME 2010 SCAM

PRESENTED BY: S IDDANNA MADDANA (MARKETING)

Host city: New Delhi, India

Nations participated 85 Commonwealth Teams

Events: 17 disciplines

Opening ceremony: 3 October 2010

Closing ceremony: 14 October 2010

Main Stadium: Jawaharlal Nehru Stadium

Motto: "COME OUT AND PLAY"

SCAM ON VARIOUS AREA

Bus Services

•Rs. 18000 crore were spent on DTC bus serviceDelhi government spent 60 lakhs on purchase of bus but the original cost was just 40 Lakh The name is ho-ho services

• During the times of Games, Delhi Government had spent huge amount on Extension of Delhi metro line

• Amount Spend was around 3000cr • Delhi government spent around 10 lakh on each pillar

but actual cost was 7 lakh per pillar

Metro Services

•In opening Ceremony of CWG there was a special attraction for all Guests and It was Aerostat or balloon show.•Its costing around 70 crore•Actual cost of this Aerostat was 40cr as contracted in U-k based company.

Balloon Cost and Service

113

Scam in Village

Real estate developer EMAAR-MGF may have to forfeit Rs. 183 crores it deposited with the government of India as a bank guarantee for the Commonwealth Games Village that it built.

EMAAR is being penalised for structural defects, and inadequate amenities including insufficient power and waste supply for the apartments that housed the delegates from 71 countries that participated in the Games.

NDTV has accessed documents that chronicle complaints about the Games Village filed by the representatives of the participating countries. From poor plumbing to water leaks and concerns about structural safety, the catalogue of grievances is extensive and indicting .Delhi Chief Minister Sheila Dikshit was asked to get the Village in shape just days before the Games began.

Collapse of Foot over-bridge With just 12 days to go for the Games, a new foot over-bridge

near the main venue of the Games, Jawaharlal Nehru Stadium, collapsed, injuring 23 labourers, five of them critically

The location couldn't

Before After

Expenses in Common Wealth Games

Parties Involved in scam

1) Suresh kalmadi, 2) Sheila Dikshit3) Robert Vadra 4) Jaypee Group.5) MTNL.