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SCAMS IN INDIA:
SCAMS IN INDIA SINCE INDEPENDANCE
SCAM:
SCAM Definition: We can define it as obtaining money by means of deception including fake personalities, fake photos, fake template letters, non-existent addresses and phone numbers, forged documents .
Jeep purchase (1948):
Jeep purchase (1948) The history of corruption in post-Independence India starts with the Jeep scandal in 1948. VK Krishna Menon , the then High Commissioner for India in London signed a deal with a foreign firm worth Rs 80 lakh for jeeps for the Indian Army in Kashmir without observing normal procedure.
PowerPoint Presentation:
The then Government announced on September 30, 1955 that the Jeep scandal case was closed, despite the demand of the opposition for judicial inquiry as suggested by the Inquiry Committee led by Ananthsayanam Ayyangar . Union Minister GB Pant said "that as far as Government was concerned it has made up its mind to close the matter. If the opposition is not satisfied they can make it an election issue." Soon after, on February 3, 1956 VK Krishna Menon was inducted into the Nehru cabinet as minister without portfolio.
Mudhra Scandal(1957):
Mudhra Scandal(1957) It was the media that first hinted there might be a scam involving the sale of shares to LIC.
PowerPoint Presentation:
Feroz Gandhi sourced the confidential correspondence between the then Finance Minister T.T. Krishnamachari and his principal finance secretary, and raised a question in Parliament on the sale of 'fraudulent' shares to LIC by a Calcutta-based Marwari businessman named Haridas Mundhra. The then Prime Minister, Jawaharlal Nehru, set up a one-man commission headed by Justice MC Chagla to investigate the matter when it became evident that there was a prima facie case. Chagla concluded that Mundhra had sold fictitious shares to LIC, thereby defrauding the insurance behemoth to the tune of Rs. 1.25 crore. Mundhra was sentenced to 22 years in prison. The scam also forced the
SCAMS IN INDIA SINCE INDEPENDANCE
SCAM:
SCAM Definition: We can define it as obtaining money by means of deception including fake personalities, fake photos, fake template letters, non-existent addresses and phone numbers, forged documents .
Jeep purchase (1948):
Jeep purchase (1948) The history of corruption in post-Independence India starts with the Jeep scandal in 1948. VK Krishna Menon , the then High Commissioner for India in London signed a deal with a foreign firm worth Rs 80 lakh for jeeps for the Indian Army in Kashmir without observing normal procedure.
PowerPoint Presentation:
The then Government announced on September 30, 1955 that the Jeep scandal case was closed, despite the demand of the opposition for judicial inquiry as suggested by the Inquiry Committee led by Ananthsayanam Ayyangar . Union Minister GB Pant said "that as far as Government was concerned it has made up its mind to close the matter. If the opposition is not satisfied they can make it an election issue." Soon after, on February 3, 1956 VK Krishna Menon was inducted into the Nehru cabinet as minister without portfolio.
Mudhra Scandal(1957):
Mudhra Scandal(1957) It was the media that first hinted there might be a scam involving the sale of shares to LIC.
PowerPoint Presentation:
Feroz Gandhi sourced the confidential correspondence between the then Finance Minister T.T. Krishnamachari and his principal finance secretary, and raised a question in Parliament on the sale of 'fraudulent' shares to LIC by a Calcutta-based Marwari businessman named Haridas Mundhra. The then Prime Minister, Jawaharlal Nehru, set up a one-man commission headed by Justice MC Chagla to investigate the matter when it became evident that there was a prima facie case. Chagla concluded that Mundhra had sold fictitious shares to LIC, thereby defrauding the insurance behemoth to the tune of Rs. 1.25 crore. Mundhra was sentenced to 22 years in prison. The scam also forced the