PhonePe is controlled by Walmart. I thought i was using Indian app. Our digital innovation is now controlled by foreigners Google pay is second. Moving to cred from tomorrow onwards. Will use other app when there is no other option
Top 13 Corporate frauds in India that you must know🔴
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1. Satyam Computer Services - Often referred to as "India's Enron," the founder Ramalinga Raju admitted to a $1.47 billion accounting fraud in 2009, inflating revenues, profits, and cash balances.
2. Punjab National Bank (PNB) Scam - Involving Nirav Modi and Mehul Choksi, this was one of the biggest banking frauds where fraudulent Letters of Undertaking (LoUs) were issued amounting to over ₹11,000 crore (about $1.8 billion).
3. IL&FS (Infrastructure Leasing & Financial Services) - One of the largest corporate frauds in India, IL&FS defaulted on its debts, leading to a financial crisis. It involved financial mismanagement and fraud, with the total exposure being around ₹91,000 crore (over $12 billion).
4. Kingfisher Airlines (Vijay Mallya) - Not exactly a corporate fraud in the traditional sense but involved in a significant loan default scenario. Mallya defaulted on loans amounting to over ₹9,000 crore ($1.2 billion) and left the country, later being declared a fugitive economic offender.
5. Saradha Group - Though not a corporate in the tech or manufacturing sense, this chit fund company defrauded investors of around ₹20,000 crore (around $2.7 billion) by luring them with high returns.
6. BHUSHAN Steel Ltd. - Accused of siphoning off funds through various fraudulent means, including the transfer of funds to related parties and misappropriation by promoters. The company was later acquired by Tata Steel.
7. Rotomac Global Pvt. Ltd. - Involved in a bank fraud case where the promoters allegedly misappropriated bank loans of around ₹3,695 crore (about $500 million).
8. ABG Shipyard Ltd. - Accused of defrauding a consortium of banks to the tune of ₹22,842 crore ($3 billion), one of the largest shipyard frauds in India.
9. Jet Airways (Naresh Goyal) - While not a direct corporate fraud, the airline faced scrutiny for alleged financial mismanagement, money laundering, and issues with loan repayments, leading to its grounding.
10. Gitanjali Gems Ltd. (Mehul Choksi) - Involved in the PNB scam with Nirav Modi, accused of defrauding banks using fraudulent LoUs.
11. Deccan Chronicle Holdings Ltd. - Faced allegations of financial fraud where it was accused of siphoning off funds and defaulting on loans.
12. Unitech Ltd. and Amrapali Group - Both real estate companies faced numerous allegations of financial irregularities, project delays, and fraud against homebuyers.
13. DHFL (Dewan Housing Finance Corporation Ltd.) - Accused of significant financial irregularities leading to a default on its obligations, involving a fraud of about ₹31,000 crore (over $4 billion)
Each case had its unique characteristics, but common themes include financial misrepresentation, diversion of funds, and non-compliance with regulatory requirements.
Wanted to order food in my area put filter on 4+ rating and all top resturant with different name pop up. When i checked all these restaurant address. I was shocked that aap these having same address same GST no and legal name. Is it legal ??
🚨🇺🇸 US tariffs aim to bring 🇮🇳India to its knees, but Bharat HOLDS ALL THE CARDS in this showdown.
Here's why India is defending its economic sovereignty from a position of strength: 🧵👇
राहुल गाँधी पर लोगो का गुस्सा स्वाभाविक है लेकिन मुझे ये बंदा सही लगा, राजनीति मे नकारात्मक रोल मे दुर्योधन बेहतर है बजाय कि शकुनि के।
कम से कम जो है सामने है, राहुल गाँधी की सीधी परम्परा है "मैं तो गधा हुँ यदि तुम भी गधे हो तो आओ मुझे वोट दो" इसमें किसी प्रकार का अल्पविराम या पूर्णविराम वाला काम नहीं है।
पूरा आनंद आगे कमेंट बॉक्स में आएगा....😁