In India 2G spectrum scam, Coal mining scam has taken big attention of media. Where thousands of
crore involved.These scams highlighted after CAG (The Comptoller And Auditorial General)
produced its report.CAG in India is an authority, established by the Constitution of India.CAG audits
all receipts and expenditure of the Government of India and the state governments, including bodies
and authorities substantially financed by the government.The CAG is also the external auditor of
government-owned companies.
2G Spectrum scam
A CAG report estimated loss of Rs.30,983,55 crore. In a chargesheet filed on April 2011 by the
CBI, the agency shown the loss Rs.176,540 crore. Supreme Court of India cancilled all the 122
licenses issued in 2008 against a Pil during period of A.Raja, minister for communications & IT of
that time,the main accused.The court further said that A. Raja "wanted to favour some companies.
Revenue loss calculation was further established on August 2012 when according to the directions of
Supreme Court,Govt of India revised the reserve price for 2G spectrum to Rs.13,788 crore.
Coal Mine Scam
In 2012 The CAG report criticised the Government by saying it had the authority to allocate coal
blocks by a process of bidding, not by chose.As a result,both public sector enterprises and private
firms paid less than they might have otherwise. In its draft report CAG estimated that the "windfall
gain" to the allocatees was Rs.1,067,303 crore.The CAG Final Report tabled in Parliament shown
figure Rs.185,591 crore While the initial CAG report suggested that coal blocks could have been
resulting in more revenue to the government, at no point did it suggest that corruption was involved
in the allotment of coal. In 2012, however, the question of corruption came to discussion. In reaction
to a complaint by the opposition, the Central Vigilance Commission asked the CBI to investigate the
matter. The CBI named a dozen Indian firms in a First Information Report FIR. These FIRs accuse
them of overstating their net worth.
If we analyze most scams we find that Persons in authority with colloboration of business persons
either relative or known, perform such scams.At one side we see government loss on other side
Business entity as described above produce false benifits of their companies. And Investor also face
big losses by these companies if these are listed in stock exchange.
crore involved.These scams highlighted after CAG (The Comptoller And Auditorial General)
produced its report.CAG in India is an authority, established by the Constitution of India.CAG audits
all receipts and expenditure of the Government of India and the state governments, including bodies
and authorities substantially financed by the government.The CAG is also the external auditor of
government-owned companies.
2G Spectrum scam
A CAG report estimated loss of Rs.30,983,55 crore. In a chargesheet filed on April 2011 by the
CBI, the agency shown the loss Rs.176,540 crore. Supreme Court of India cancilled all the 122
licenses issued in 2008 against a Pil during period of A.Raja, minister for communications & IT of
that time,the main accused.The court further said that A. Raja "wanted to favour some companies.
Revenue loss calculation was further established on August 2012 when according to the directions of
Supreme Court,Govt of India revised the reserve price for 2G spectrum to Rs.13,788 crore.
Coal Mine Scam
In 2012 The CAG report criticised the Government by saying it had the authority to allocate coal
blocks by a process of bidding, not by chose.As a result,both public sector enterprises and private
firms paid less than they might have otherwise. In its draft report CAG estimated that the "windfall
gain" to the allocatees was Rs.1,067,303 crore.The CAG Final Report tabled in Parliament shown
figure Rs.185,591 crore While the initial CAG report suggested that coal blocks could have been
resulting in more revenue to the government, at no point did it suggest that corruption was involved
in the allotment of coal. In 2012, however, the question of corruption came to discussion. In reaction
to a complaint by the opposition, the Central Vigilance Commission asked the CBI to investigate the
matter. The CBI named a dozen Indian firms in a First Information Report FIR. These FIRs accuse
them of overstating their net worth.
If we analyze most scams we find that Persons in authority with colloboration of business persons
either relative or known, perform such scams.At one side we see government loss on other side
Business entity as described above produce false benifits of their companies. And Investor also face
big losses by these companies if these are listed in stock exchange.
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