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Biggest scam in india

biggest scam in india , indian biggest scam
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Biggest scam in india

Indian biggest scam

“The  scam is about providing business in exchange for kickbacks or having ED take action against them in case no kickbacks are provided”

It was in 2017 when the Modi Government introduced this Electrol bonds scheme and made it a means of collecting kickbacks for political parties.

NDTV news:

                        “Finance minister Arun Jaitley today announced the contours of Electrol Bonds For Funding of Political Parties”

Every action under this scheme would be hidden from the masses which amounts to which parties citizens weren’t permitted to know this People who were feeling this news back them understood that this would lead to a major financial scandal. After Seven years  in 2024 Supreme Court declared the scheme to be unconstitutional 

  • and all these scams that took place in these 7 years, are now being revealed gradually Recently, in the India Today conclave, Home  Minister Amit Shah openly lied about Electrol bonds. “He said that total bonds sold were worth  ₹200 billion out  of which BJP got only  ₹60 billion so, who got the remaining  ₹140 billion ?” There was a TV news anchor sitting with him who chose to remain silent. Either he forgot or he didn’t have the courage to fact-check Amit Shah. As per ECI data, the total bonds issued were not ₹200 billion but ₹127 billion. 

The one enchased between April 2019 and January 2024. out of this ₹120 billion,  BJP received  ₹60 billion  IT is about 47.5% during the same period, the second number party on the list was the Trinamool Congress which got bonds worth ₹60 billion. it is 12.6% congress was at the 3rd spot with ₹14 billion, approximately 11.1%.

  1. BRS with ₹12 billion. 
  2. BJD with ₹7 billion.
  3. DMK with ₹4 billion.
  4. YSR with ₹3 billion 
  5. TDP with ₹2 billion 
  6. Shive Sena ₹1.5 billion

 and other remaining parties got about ₹300 to ₹700 million.

After seeing this list many BJP politicians are making excuses that BJP is a national party with more than 300, numerous MLAs, and thousands of party workers. so, their getting so much money should be justified and if we calculate the ratio of money per MP then this ratio of BJP is lower than that of other parties, they claim that this means BJP is not as bad as other parties.

As I told you earlier: “The  scam is about providing business in exchange for kickbacks or having ED take action against them in case no kickbacks are provided”

But in itself giving or receiving political donations is not a scam. anyone can donate to political parties. But if they are given any contract in return for their donation they are paid with the people’s tax money and the companies that don’t give such donations, are harassed by ED, then it becomes a scam, a fraud. Now think about that, Vijay Milaya or Niruv Modi say that because they have a large company, and employ many people, it’s justified that they stole from the bank. because on a “per employ fraud calculation they are not  criminal. People don’t object to Vijay Milaya earning a lot of money . there’s nothing wrong  with earning money. The objection arises only when public funds are stolen to earn that money. Similarly, no one has a problem with why the BJP accepted political donations. The problems  is that to get these ‘donations,’ they created a vast extortion racket, shattered the principles of democracy, and stole the nation’s public funds. Amit Shah’s bold a-face lie was repeated by the BJP politician R.P Singh. 

How do these Electoral Bonds work?

You can think of Electoral bonds like a Coupon. the company paid the bank to buy these coupons. this coupon was given to the political parties and the parties could redeem the coupons and they could access the money paid to in the bank. the rule said that if any political parties did not have enough of the electoral bonds received,if they didn’t redeem the coupon, then within 15 days the money paid to purchase the unclaimed bonds would be transferred to the prime minister’s relief fund.

 When this electoral bonds scheme was launched, there was a journalist who decided to investigate this in detail. And to test this she bought two electoral bonds. The journalist was Poonam Agarwal. She went to the SBI’s Parliament Branch and on the 5th April and 9th April 2018, she brought two electoral bonds. both were priced at ₹1000 each. She was working for the Quint Media organization at that time. The buyer’s name was not mentioned on the electoral bond. Neither did it mention any other about who bought it. Both bonds looked to be samed to exactly the same. but when she sent one of the bonds for forensic testing, it was revealed that every bond has a secret unique Alphanumeric number This secret number was visible only under ultraviolet light. this was shocking because this revealed another lie of the Modi government. the government had been claiming that anyone buying the electoral bonds, would not be identified their identity would be hidden. No one would know who bought this bond. When Miss Agarwal proved this, the finance ministry had to openly acknowledge that there was a secret unique number on the bonds. But they also claimed that this number was only a security feature. and that the donations would not be tracked by this number and the identity of the buyer could not be ascertained. The then Finance minister, the late Arun Jaitley, used this point as defence in parliament’s debate. He reassured the opposite parties that they don’t need  to worry, no one would find out the identity of the donor, or the source of the donations.

He said that their government is so benevolent that they think of even the opposition while making laws.

But guess what? This was another lie spewed by the Modi government. Retired Navy Officer Lokesh Batra filed an RTI and he received a file from the Finance Ministry. Some other records were reviewed by HuffPost India. In all these, the SBI explained that without recording the serial numbers, it would not be possible to create an audit trail. 

 

How will the bank know whether a bond has been forged or not? Someone could take a fake bond to be encashed. Then in January 2018, a notification was issued that stated in Section 6(4) that the SBI has to provide the details of the electoral bond to any law enforcement agency if they ask for it. If SBI did not keep such details, if the donor details had to be masked, then how would this rule work? This meant that if ED or CBI wanted they could have easily found out which company donated which Electoral Bond.

Do you understand its implications, friends? As we already know, agencies like ED and CBI, have become the government’s puppets. With this, three things were clear. First, the public was supposed to remain unaware of which political party receives how much political donations, which companies make political donations, and how much they pay.

The citizens weren’t supposed to know any information. Second, the opposition political parties weren’t supposed to know which companies gave donations to BJP and how much. They would have known about the donations they received. And third, the BJP government had the means to find out everything.

Who is giving political donations, how much are they paying, and to which political parties? The government had access to information about every donating company. For the Modi government, it became a secret weapon against the opposition. And most of the opposition parties didn’t know anything about it until recently.

On 15th February, when the Supreme Court declared this scheme unconstitutional, it was because of a petition. A petition was filed by the CPI(M) political party and NGOs Common Cause and Association for Democratic Reforms (ADR). Advocate Prashant Bhushan was arguing on their behalf against this scheme. So, these are some of the organizations and people whom we should thank who led to this scam being unearthed.

The Supreme Court had a lot to say about this scheme, but two things were immensely significant. First, the citizens have the right to know about the quantum of the donations given to political parties and who makes these donations. This Electoral Bond Scheme went against the citizen’s right to information.

And second, the Supreme Court expressed its concern about how this scheme was used to get kickbacks. The court said that these contributions can be classified purely as business transactions. Companies are donating to get some benefits in return. Based on all of all this, the Court directed SBI to release the data.
In the beginning, SBI came up with excuses about how it would take 3 months to collate the data, and that it could be disclosed only after the elections. But the Court refused to show any leniency and the data was released within 2 days. Eventually, this data was published on the website of the Election Commission.
 
The data published on ECI’s website is in the form of 2 lists. The first list tells us which companies and persons bought electoral bonds, and how the value of their bonds. The second list tells us which political parties encashed the Electoral Bonds and how much they got. But SBI was sly and didn’t reveal the secret numbers.
 
Without them, it wasn’t possible to connect the two lists exactly. Once again, they tried to hide information from the public. Once again, the Supreme Court rebuked SBI for publishing selective data. It directed SBI to publish the full data by 21st March. The other political parties in the country had a list of donors who donated to them.
They knew about the source of donations they received. So, 10 political parties revealed their list to the people. They revealed their data publicly, without waiting for SBI to do so. These parties included Samajwadi Party, Aam Aadmi Party, National Congress Party, JD(U), JD(S), DMK, AIADMK, JKNC, a party from Goa, MGP and SDF from Sikkim
.

I would also like to mention that 4 political parties went above and beyond, and never accepted electoral bonds as a matter of principle. They are CPI, CPI-M, All-India Forward Bloc, and CPI-ML. These parties can be criticized on other issues, but their stand on this issue is commendable. The parties which accepted the Electoral Bonds and their leaders claim that they accepted these bonds because they wanted to utilise the scheme that was already there.

So that their donors do not have to face any problems. Anyway, merely taking donations does not mean that it is a scam. 

So, now that you have understood the theory, let’s get to the practical. Let’s talk about the fraud. In these frauds, three entities are involved. First, the political party in power can be BJP’s central government or any other party that forms the state government. Second, large companies made political donations through the electoral bond. And third, the common masses, the public. Let’s put a box under them. The box under the political party has the political donations.

The box under the company has the company’s money. And the box under the people contains public funds. The money is collected from people as taxes or otherwise. Now imagine if the government takes money from the citizens’ box and puts it in the company’s box. In return, the company takes money from its box and puts it in the party’s box through electoral bonds.
 
Would you call this a scam or not? Obviously, it is a scam. But scams ran under the guise of electoral bonds the poor people and the common masses were being robbed, and the money was given to the rich.
 
Let’s understand exactly how it was being done with 3 examples. First tax evasion, is the companies don’t pay taxes properly. Not paying taxes means that money doesn’t get to the public fund box. This means that government employees won’t get their salaries on time. There won’t be recruitment for government jobs, and the conditions of government schools and hospitals cannot be improved.

Because the public funds that were supposed to be used for the welfare of the people aren’t coming in. Now in case, a company is not paying its taxes, what should the government do? Should it raid the premises of the company? But instead of raiding, think about it, if the two make a deal. In exchange for giving political donations to their political party, the government wouldn’t take action about the tax evasions.

The company will be given a free pass. The government will let them continue their illegal activities, and ED will simply remain quiet. *Try to understand the chronology.* Look at the Top 5 donor companies on the list of electoral bonds. Three of these five companies are Future Gaming, Megha Engineering, and the mining giant, Vedanta.
ED and the Income Tax Department had raided all three companies. In fact, when The Quint analyzed the top 30 donors it was found that 14 of the Top 30 companies were raided by the agencies. Now, one possibility is that the companies hadn’t done anything wrong, the companies were working honestly. But in this possibility, the government did not care whether the company followed the law or not, and they told the companies to pay up.
Basically, what the government did is called extortion. This is why Congress politician Rahul Gandhi called PM Modi, Vasuli Bhai. [Someone who runs an extortion racket.] But the second possibility could be that the company had actually committed money laundering, it was involved in illegal activities, and the government found out about the money laundering, tax evasion, and the company stealing public funds, but did not actually have an issue with it, as long as the company paid a part of the benefits to the party. 

The first problem is that government’s money is the citizen’s money, rules have been made on how the government should spend that money. Rule 21 of the General Financial Rules states that a public officer should be as cautious while spending public money as a sane person would be while spending his own money.

The state of the manufacturing facilities of the company. The financial position of the company. Only after evaluating all these, is a contract awarded to a company. To the candidate who can hand in the best quality of work. The candidate who will charge the appropriate price for it. They shouldn’t be overcharging while the tax money is being wrongfully utilised.
Now you will remember the tunnel collapse in Uttarakhand, 41 workers were trapped in it. Do you know which company was given the contract to build that tunnel? Navayuga Engineering Company Limited. Between 2019 and 2022, this company bought electoral bonds to the tune of ₹550 million, Let me tell you another story.
In December 2021, an under-construction flyover fell in Ahmedabad. This flyover was being built by the company Ranjit Buildcon. This was the third incident involving the same company. In the inquiry, it was found that this company had compromised on the quality of the concrete and construction. But did you know that this company was given multiple projects by Gujarat’s civic bodies?
Vadodara, Rajkot, Surat, and Ahmedabad’s Gandhinagar metro rail project were awarded to it. These were the business opportunities but where is the kickback? According to the list, between January and July 2023, this company bought electoral bonds worth ₹90 million. Let’s see another example, Pune-based company BG Shirke Construction Private Limited.
Between January 2023 and January 2024, it purchased electoral bonds for ₹1.18 billion. But one year before this, in June 2022, an FIR was registered against this company for causing death by negligence. At the housing project construction site of this company, 4 people died in an elevator crash. Before this, in October 2018, there was another incident.
At the construction site of this company, 4 people lost their lives when they fell from the tower crane. You can see that a political party doesn’t care about your life. As long as they get their share. Look at the company Megha Engineering. Between 2019 and 2023, It bought electoral bonds to the tune of ₹9.66 billion. Such a huge amount! Almost ₹10 billion! Why would a company want to donate so much money to a political party? Three more companies were associated with this. Western UP Power Transmission Company Limited, SEPC Power, and Evey Trans Private Limited.
If you add up all the electoral bonds they purchased, it is more than ₹12 billion. What did they get in return? In June 2019, Telangana’s Chief Minister Chandrashekhar Rao inaugurated the Kaleshwaram Multipurpose Irrigation Project. In February 2024, the CAG submitted a report which revealed that initially, the estimated cost of this project was ₹810 billion.
But now it costs more than ₹14.7 trillion. In another report, the CAG stated that Megha Engineering was paid ₹51.80 billion in excess for four packages. It included the supply and commissioning of pumps, motors, and equipment. CAG also stated that apart from Megha Engineering there were other contractors like L&T and Navayuga Engineering.
If we look at the combined amount for all of them these contractors had received at least ₹75 billion in extended undue benefits. The report also states that the government seemed to be in a hurry to hand out these projects. 17 different projects worth ₹250 billion were awarded before receiving the detailed project report.
Not only that, in October 2020, the National Green Tribunal raised red flags about this project. The NGT said that the environmental clearance given to this project was illegal. Since this was happening in Telangana, where the BRS party is in power, so Congress and BJP both said that this Bahubali project has become a cesspool of corruption.
 
But, here comes the plot twist. “The Zojila tunnel…” Here, BJP’s Nitin Gadkari is talking about the Zojila tunnel. It connects Srinagar and Leh. “This was approved by your government. In this tender, the company which won the contract, 5 entities had submitted their bids, This was awarded to a company in Hyderabad, Megha Engineering.
” Multiple companies bid for it. But in August 2020, a small company from Hyderabad got a contract worth ₹45 billion. Which company? Megha Engineering. Look at another project. Thane-Borivali Twin Tunnel. Mumbai’s MMRDA floated a tender for two packages to build this tunnel. In April 2023, Megha Engineering purchased electoral bonds worth ₹1.4 billion.
And in the next month, in May 2023, Megha Engineering was awarded this project worth ₹144 billion. This is the same company that was raided by the Income Tax Department in October 2019. But after that, the list clearly shows the billions of rupees of electoral bonds it bought between 2019 to 2024. And in this time period, one after another, projects were awarded to it.
Not only by the state government of Telangana, but also by Modi’s central government. In June 2023, according to this article, this company was given a project worth ₹5 billion by the Defence Ministry. Friends, everything that I have told you till now, is just the tip of the iceberg. Apart from this, there is a strange case of a company named Future Gaming.
A lottery company. When this company was being raided by central agencies, Finance Minister Nirmala Sitharaman was tweeting photos of her meeting with the Lottery King’s son. Apart from this, there are some cases where Beef Exporting Companies bought Electoral Bonds to give donations to the parties. This case should be a wake-up call for those people who vote for this party for their religious affiliation.
Then there are cases of mining giants Vedanta, EMIL, GHCL, and MSPL, and how they have been accused of bending environmental rules. There is a case of Qwik Supply Chain with the same directors as in Mukesh Ambani’s company, Reliance. Looking at the list, it is clear that this company bought electoral bonds worth more than its net profit.
It was paying more in political donations than it profits.  
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