SCAMS

Company Involved (Year of Scam Expose'): CRB Capital Markets Limited (1996)

Amount Involved: Rs 1200 crore

Type of Fraud: Chairman Chain Roop Bhansali, was accused of siphoning off Rs 12 billion in the CRB scam. CRB was accused of using its SBI accounts to siphon off bank funds, claiming it was encashing interest warrants and refund warrants.

Impact: The Unit Trust of India and the Gujarat government also incurred losses.


Company Involved (Year of Scam Expose'): ITC – Chitalia's Fera Violation(1996)

Amount Involved: FERA violations were estimated at around $80 million.

Type of Fraud: In June 1996, ED started FERA investigation into the export transactions between ITC and the Chitalia group of companies (EST Fibres) during 1990- 1995.

Impact: The Chitalias and several directors of the company including ITC Chairman KL Chugh were detained but later released on bail. ITC in turn slapped a suit on Chitalias for $15 million, Chitalias in turn sued ITC for $55 million, which they claimed ITC owed them.


Company Involved (Year of Scam Expose'): Home Trade (2002)

Amount Involved: Rs 6000 cr

Type of Fraud: Eight co-operative banks, like Valsad People's Co-operative Bank and Navsari Co-operative Bank from South Gujarat, collectively lost over Rs 80 crore due to bad investments by the Home Trade. It was also linked to Rs 82 lakh forgery in a central government undertaking EPF scheme.

Impact: Home Trade chairman Sanjay Agarwal and Director Ketan Seth were arrested


Company Involved (Year of Scam Expose'): DSQ Software (2003)

Amount Involved: Rs.595 crore

Type of Fraud: Dinesh Dalmia's Company DSQ Software was accused of dubious acquisitions and biased allotments made in the year 2000 & 2001.

Impact: Dalmia was arrested in 2006 and is currently serving jail sentence.


Company Involved (Year of Scam Expose'): Nagarjuna Finance (2003)

Amount Involved: Rs 98.37 crore

Type of Fraud: Executives of Nagarjuna Finance, an promoted by KS Raju, was accused of failure to return about Rs 100 crore to depositors in 1997-98.

Impact: NFL could repay only Rs 54.8 crore as at December 2003.

Company Involved (Year of Scam Expose'): Satyam (2009)

Amount Involved : Rs. 7000 cr.

Type Of Fraud : Inflated Balance Sheets.

Impact : Founder Arrested.