telgi scam

Information about telgi scam

Published on July 22, 2014

Author: srimathacharla

Source: authorstream.com

Content

SCHOOL OF MANAGEMENT STUDIES: JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY KAKINADA SCHOOL OF MANAGEMENT STUDIES TELGI SCAM Submitted by: 13021E0002 13021E0008 13021E0015 13021E0029 13021E0039 13021E0045 contents: Introduction Early life of Telgi Key players The operation involvement Methods followed by Telgi Numerical figures Impact of Telgi scam Telgi death Conclusion contents Srimatha Rajesh Chandana Venkateswarlu Sriram INTRODUCTON: INTRODUCTON Abdul karim telgi-the lead role of the fake stamp paper scam Scam exposed links with various politician and top officials One of the biggest scam India has ever faced. Telgi’s network spread across 13 states involving 176 offices,1000 employees and 123 bank accounts in 74 cities.   Early life: Early life Born- 1961 Schooling-Sarvodaya Vidyalaya Graduation(B.Com)- Belgaum college He moved to Saudi Arabia. Came to Mumbai after seven years (1980s) worked as a travel agent. Later he worked in a Colaba guest house.  Abdul Karim Telgi PowerPoint Presentation: Two MLAs- Anil Gote (MLA Dhule,Maharashtra) and Krishna Yadav(Himayat Nagar,Andhra Pradesh) Former A.P.minister C.B.K.Yadav Former Mumbai Police Commissioner R.S.Sharma Former Joint Commissioner of Police, Crime branch,Mumbai,S.S.Vaghal Former Deputy Commissioner (Detection) of Mumbai Police,Pradip Sawant. Kishore patil(suspended IPS officer) Key players PowerPoint Presentation: Stamp paper Judicial court fee stamps Non-judicial stamps Revenue stamps Special adhesive stamps Notorial stamps Foreign bills Brokers notes, insurance policies Share transfer certificates Insurance agency stamps The operation involvement PowerPoint Presentation: His agents would first talk to the henchmen of politicians. As the next step he would build a chain of ‘reliable contacts’ through the first contact and deals were struck in his presence. Telgi would then offer them a State wide contract. Telgi floated several companies, including a film distribution agency to facilitate his activity. He recruited unemployed youth to sell counterfeit stamps at 2 per cent discount. Chit companies, along with courts and real estate agencies, were his prime targets. Method followed by Telgi PowerPoint Presentation: The Special Investigating Team (SIT) of the Maharashtra Police put the total value of the scam at Rs.21,28,47,07,824. Later this was revised to Rs.32,000 crores by the Union Home Secretary. Seized fake stamps, valued at Rs.170 crores, displayed in Bangalore. Numerical figures PowerPoint Presentation: EX-Finance Minister Jaswant Singh was Speaking in the Lok Sabha on a calling attention motion on the stamp paper scam, the minister said the agencies had registered 74 cases in this connection, with 15 against chief accused Abdul Karim Telgi. Special Investigation Team (SIT) first taken the case during 1995-2003 and then hands over stamp scam cases to Central Bureau of Investigation (CBI) on April 13, 2004 PowerPoint Presentation: On 17 January 2006, Telgi and several associates were sentenced to ten years rigorous imprisonment. On June 28, 2007 Telgi was sentenced to rigorous imprisonment for 13 years. Fined a whopping Rs. 202 crore on various counts in one of the main cases of the scandal. Honorable Judge Chitra Bedi sentenced 42 other accused in the case, who too had pleaded guilty, to rigorous imprisonment for up to six years and imposed fines on them. Mudrank film released on telgi scam on 2008. PowerPoint Presentation: Public sector bank became more responsible Government verified the stock of Stamp Papers with Authorized vendors. Bank managers ensures that further transactions are proper. Impact of Telgi Scam PowerPoint Presentation: Abdul Karim Telgi, the prime accused in the multi-crore fake stamp paper scam, died in Indore, Madhya Pradesh. Telgi’s death PowerPoint Presentation: Arrested in 1991 by Mumbai police for cheating. In 1994, Telgi acquires a stamp paper license, sets up office at Mint Road. Telgi's fakes carried the same numbers and rea-ched the Mumbai market.  conclusion PowerPoint Presentation: The fakes were then distributed to authorised vendors and sold along with genuine ones. He appointed 300 people, including MBAs as agents who sold the fakes to bulk purchasers. Several cases against him in the '90s. Finally arrested in August 2001. PowerPoint Presentation: The scam estimated to be more than Rs 43,000 crore. Business spanning 74 centers in 13states over 10 years. Quality of the fake stamps and stamp papers was as good as that of originals. THANK YOU..! : THANK YOU..! Chandana -002 Madhavi -008 Srimatha -015 Rajesh -029 Venkjateswarlu-039 Sriram -045

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