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World's Largest Republic of Scams - India Scams over the Years...
Total Scam Money (approx) Since 1948 :  198867184000000
 
2012 2011 2010 2009 2008 2006
2005 2004 2003 2002 2001 2000
1997 1996 1995 1994 1992 1990
1989 1987 1981 1976 1974 1971
1965 1964 1960 1958 1956 1951
1948
Bhrashtachar in year 1994
1. Sugar import scam
Scandal worth : 4,200 crore

The facts unfolded that some nominal shortage was expected; so one shipload was imported at a high rate of Rs 16 per kg around May, when 70-lakh tonnes of sugar were in stock,” he explains. “Since sugar production season was complete by April, all the costing had been completed and the issue price was also fixed. Subsequently when sugar was imported at such a high cost, the inland prices of stock were made to jump to the same level.” An additional Rs 6 per kg to the existing stock meant a neat Rs 4,200 crore! Eerie. About a week ago the central bank asked all commercial banks to sanction additional loan limits of Rs 420 crore to sugar mills for creating buffer stock.

Reference Link : http://www.thehindubusinessline.in/mentor/2007/07/23/stories/2007072350441200.htm
 

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