Income Tax Deputy Commissioner Poonam Roy

Income Tax Deputy Commissioner Poonam Roy

CBI Arrested Income Tax Deputy Commissioner Poonam Roy [ IRS ]

In Bhopal Madhya Pradesh, the CBI Arrested Income Tax Deputy Commissioner Poonam Roy Red Handed Friday night taking INR 10 Lakh Rupees as bribe from a builder in Bhopal. The CBI has taken four others in its custody including her BJP Leader Husband Mr Ganesh Roy. In Madhya Pradesh, the CBI arrested Income Tax Deputy Commissioner Poonam Roy red handed Friday night taking 10 lakh rupees as bribe from a builder in Bhopal. The CBI has taken four others in its custody including her husband Ganesh Roy.

Income Tax Deputy C

Fraud Air Sahara Chief Subrata Roy Sahara May Gets Conditional Bail from Supreme Court

The Supreme Court    asked Fraud Air Sahara Chief Subrata Roy Sahara to deposit In Rs. 10,000 Crore with the Market regulator SEBI for his release on interim bail from judicial custody.

The apex court bench of Justice K.S. Radhakrishnan and Justice J.S. Khehar said that of the Rs 10,000 crore, Rs.5,000 crore would be deposited in cash, and the balance Rs.5,000 crore will be furnished through a bank guarantee.

The court declined to water down its orders as the Sahara Group counsel expressed inability to raise such a huge amount while Fraud Air Sahara Chief Subrata Roy Sahara is in jail.

The Fraud Air Sahara Chief Subrata Roy Sahara counsel urged that he may be released on depositing Rs.2,500 crore with SEBI and sought one month's time for the rest of the amount.

The court adjourned the hearing for Thursday for Fraud Air Sahara Chief Subrata Roy Sahara to respond to its order.

Sahara India Fraud,
Sahara Group India Cheatings,
Subrata Roy House, 
Subroto Roy Scams,
Subrata Roy Son

New Tele Calling Frauds Mumbai and Delhi

Given below is happened to someone & he has narrated this in his own words:

" I received a call from someone claiming that he was from my mobile Service provider and he asked me to shutdown my phone for 2 hours for 3G update to take place. As I was rushing for a meeting,
I did not question, but just shut down my cell phone.

After 45 minutes I felt very suspicious since the caller did not even introduce his name.
I quickly turned on my cell phone and saw several missed calls from my family members
and the others were from the number that had called me earlier –

I called my parents and I was shocked that they sounded very worried asking me whether I am safe.
My parents told me that they had received a call from someone claiming that they had me with them and asking for money to let me free. The call was so real and my parents even heard 'my voice' crying out loud asking for help.

My father was at the bank waiting for next call to proceed for money transfer.
I told my parents that I am safe and asked them to lodge a police report.

Right after that I received another call from the guy asking me to
shutdown my cell phone for another 1 hour which I refused to do and hung up.

They kept calling my cell phone until the battery had run down. I myself lodged a police report and I was informed by the officer that there were many such scams reported. MOST of the cases reported that the victim had already transferred the money! And it is impossible to get back the money. Be careful as this kind of scam might happen to any of us!!!

Those guys are so professional and very convincing during calls. If you are asked to shut down your cell phone for updates by the service provider, ASK AROUND!

Your family or friends might receive the same call. "

Be Safe and Stay Alert!

Please pass around to your family and friends !!!
MUST SHARE AS SOON AS POSSIBLE

People have been receiving calls from any number starting from +375, +371 number one ring & hang up. If you call back it's one of those Numbers that are charged 15-30$ & they can copy ur contact list in 3sec & if u have bank or credit card details on your phone, they can copy that too. +375 is from Belarus From Afghanistan.. 371 is cod for Lativa...

Don't answer or call back. Please FORWARD

AND SHARE this to your friends and family.!!

First Number Phone Calls,
Database Updating Telemarketing,
Tele Calling Tips,

Frustration is Although is Quite Painful at Times But It Is Very Essential and Positive Tool For Your Success.

Frustration is Although is Quite Painful at Times But It Is Very Essential and Positive Tool For Your Success.

It is hardly possible to build anything if frustration, bitterness and a mood of helplessness prevail.

We see so many injustice, frauds and scams around us which frustrates .......

1. Health Care/Medicare/Health Insurance Fraud

Every citizen or permanent resident over age 65 qualifies for Medicare, so there is rarely any need for a scam artist to research what private health insurance company older people have in order to scam them out of some money.

In these types of scams, perpetrators may pose as a Medicare representative to get older people to give them their personal information, or they will provide bogus services for elderly people at makeshift mobile clinics, then use the personal information they provide to bill Medicare and pocket the money.

2. Counterfeit Prescription Drugs

Most commonly, counterfeit drug scams operate on the Internet, where seniors increasingly go to find better prices on specialized medications.

This scam is growing in popularity—since 2000, the FDA has investigated an average of 20 such cases per year, up from five a year in the 1990s.

The danger is that besides paying money for something that will not help a person’s medical condition, victims may purchase unsafe substances that can inflict even more harm. This scam can be as hard on the body as it is on the wallet.

3. Fraudulent Anti-Aging Products

In a society bombarded with images of the young and beautiful, it’s not surprising that some older people feel the need to conceal their age in order to participate more fully in social circles and the workplace. After all, 60 is the new 40, right?

It is in this spirit that many older Americans seek out new treatments and medications to maintain a youthful appearance, putting them at risk of scammers.

Whether it’s fake Botox like the one in Arizona that netted its distributors (who were convicted and jailed in 2006) $1.5 million in barely a year, or completely bogus homeopathic remedies that do absolutely nothing, there is money in the anti-aging business.

Botox scams are particularly unsettling, as renegade labs creating versions of the real thing may still be working with the root ingredient, botulism neurotoxin, which is one of the most toxic substances known to science. A bad batch can have health consequences far beyond wrinkles or drooping neck muscles.

4. Telemarketing

Perhaps the most common scheme is when scammers use fake telemarketing calls to prey on older people, who as a group make twice as many purchases over the phone than the national average.

While the image of the lonely senior citizen with nobody to talk to may have something to do with this, it is far more likely that older people are more familiar with shopping over the phone, and therefore might not be fully aware of the risk.

With no face-to-face interaction, and no paper trail, these scams are incredibly hard to trace. Also, once a successful deal has been made, the buyer’s name is then shared with similar schemers looking for easy targets, sometimes defrauding the same person repeatedly.

Examples of telemarketing fraud include:

“The Pigeon Drop”

The con artist tells the individual that he/she has found a large sum of money and is willing to split it if the person will make a “good faith” payment by withdrawing funds from his/her bank account. Often, a second con artist is involved, posing as a lawyer, banker, or some other trustworthy stranger.

“The Fake Accident Ploy”

The con artist gets the victim to wire or send money on the pretext that the person’s child or another relative is in the hospital and needs the money.

“Charity Scams”

Money is solicited for fake charities. This often occurs after natural disasters.

5. Internet Fraud
While using the Internet is a great skill at any age, the slower speed of adoption among some older people makes them easier targets for automated Internet scams that are ubiquitous on the web and email programs.

Pop-up browser windows simulating virus-scanning software will fool victims into either downloading a fake anti-virus program (at a substantial cost) or an actual virus that will open up whatever information is on the user’s computer to scammers.

Their unfamiliarity with the less visible aspects of browsing the web (firewalls and built-in virus protection, for example) make seniors especially susceptible to such traps.

One example includes:

Email/Phishing Scams

A senior receives email messages that appear to be from a legitimate company or institution, asking them to “update” or “verify” their personal information. A senior receives emails that appear to be from the IRS about a tax refund.

6. Investment Schemes
Because many seniors find themselves planning for retirement and managing their savings once they finish working, a number of investment schemes have been targeted at seniors looking to safeguard their cash for their later years.

From pyramid schemes like Bernie Madoff’s (which counted a number of senior citizens among its victims) to fables of a Nigerian prince looking for a partner to claim inheritance money to complex financial products that many economists don’t even understand, investment schemes have long been a successful way to take advantage of older people.

7. Homeowner/Reverse Mortgage Scams

Scammers like to take advantage of the fact that many people above a certain age own their homes, a valuable asset that increases the potential dollar value of a certain scam.

A particularly elaborate property tax scam in San Diego saw fraudsters sending personalized letters to different properties apparently on behalf of the County Assessor’s Office. The letter, made to look official but displaying only public information, would identify the property’s assessed value and offer the homeowner, for a fee of course, to arrange for a reassessment of the property’s value and therefore the tax burden associated with it.

Closely related, the reverse mortgage scam has mushroomed in recent years. With legitimate reverse mortgages increasing in frequency more than 1,300% between 1999 and 2008, scammers are taking advantage of this new popularity.

As opposed to official refinancing schemes, however, unsecured reverse mortgages can lead property owners to lose their homes when the perpetrators offer money or a free house somewhere else in exchange for the title to the property.

8. Sweepstakes & Lottery Scams

This simple scam is one that many are familiar with, and it capitalizes on the notion that “there’s no such thing as a free lunch.”

Here, scammers inform their mark that they have won a lottery or sweepstakes of some kind and need to make some sort of payment to unlock the supposed prize. Often, seniors will be sent a check that they can deposit in their bank account, knowing that while it shows up in their account immediately, it will take a few days before the (fake) check is rejected.

During that time, the criminals will quickly collect money for supposed fees or taxes on the prize, which they pocket while the victim has the “prize money” removed from his or her account as soon as the check bounces.


'The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.' - Albert Einstein

Lets do Ladakoo Fight for You and Your Rights......

If you're being harassed by ”fraud” squad bullies....
Don't panic...
Don't speak to them alone...
Don't let them into your house...
Don't sign anything without first getting advice...


Reach out to us,  who have gone through similar circumstances. Here are the people who can genuinely relate and understand what you’re going through, and are the perfect outlet to let off some steam. We can also act as a sounding board, offering valuable insights and advice that will leave you feeling encouraged, supported, and inspired.
It's easy to take one look at Fightback and start to judge it. It's a two-dimensional beat'em up with a protagonist that looks like a plenty of dark and unimaginative stages. There's little about the presentation that's worth applauding, but I'd like to think that  http://ladakoo.comrealized this after jumping into development.

If people think they’ve been scammed, or know someone who has fallen victim, they can get advice and report it to http://ladakoo.com, to help stop it happening to others. Coming together is a beginning; keeping together is progress; working together is success.

All that is necessary to break the spell of inertia and frustration is this: Act as if it were impossible to fail. That is the talisman, the formula, the command of right about face which turns us from failure to success.

Lets Ladakoo Fight for You and Your Rights

Information for Consumers regarding Fraud and Scam Companies.
Complaint Registration is Free and Open for All

If You have Complaints about any Following

Airlines
Business & Finances
  Banks
  Loans
  Tax Services
  Insurance
  Stock Market
  Credit Cards
Cars, Parts & Vehicles
  Car Rental
  Auto Insurance & Loan

Visit
http://ladakoo.com

"Consult not your fears but your hopes and your dreams.   Think not about your frustrations, but about your unfulfilled potential.   Concern yourself not with what you tried and failed in, but with what it is still possible for you to do. "

Regards,

Ruchika Mandora 

Aerosoft Corp

Voice of India about SAHARA INDIA Scam

SAHARA INDIA has got many of the Politicians and Big Personalities Money involved in it, that's why everyone is silent. SAHARA is like swiss bank of India.

There is a reason why a Media outlet must stay clear of Politicians and too much Political influence. Channels like NDTV and CNN-IBN who frequently crown Politicians with all kinds of awards can hardly be expected to report honestly. Their dishonesty and corruption in news reporting and analysis has been evident to almost every observer. This may be one of the reasons why media has not reported this aspect SAHARA INDIA scam.

Here is a detailed specifications which will satisfy you on above statement about bold SAHARA INDIA SCAMS. Reviews of common people:

Vivek Soni

Enough proof to Show how the certain sections of people is not able to digest the success of Sahara's Financial inclusion Model.

Sneha vyas 

"Sahara India has been providing its services to our country since the past 33 years, their only aim has been to develop our country.. they are a very honest and trustworthy company.. and i would not think twice before investing with them again."

Bhushan

"Their business agenda is very simple..takes black money from different party, party leader and convert that to white through the so called small investor money..In the filling to SEBI sahara said their 90% of investor out of 30 million, don't have bank account for NEFT settlement of their balances. When sahara comeup with their IPO, we did lot of study on their model and conducted lot of interviews with lot of Inside people at sahara..They takes black money - convert to white and invest to different area. Only thing Sahara never was able to generate profit through any of their business ever..you take airlines, news paper, channel, Real estate, any sector they moved in. So ultimately they are running in losses but due to continuous flow of money we can not see that..Its like One the flood stop then only we can see sahara was nacked."

Jatin Saini

"Its really funny how badly SEBI is behaving. It seems desperate to nail Sahara as after failing to prove Subrata Roy's guilt in India, it is now begging foreign agencies to help them. What a pity. Nailing Sahara by hook or by crook is the only thing that seems to matter."                    

Jayvs (One of the customer of SAHARA INDIA) commented their emotions on a well known social site  on February 21, 2014 12:28 AM :-

"I think bhushan is very right.
I have also made investments into Sahara but after the SEBI case i have stopped that.
and then i got to know the real face of SAHARA. These idiots are not returning my money saying that it will only be returned after the maturity date.although their pollicy is now banned by SEBI.
These frauds have opened a new scheme now and transferred all our investments into that. And they are showing to the court that they have returned the money to their investors which is a lie.

SAHARA is a big fraud. But i think it has got many of the politicians money involved in it, that's why everyone is silent.
SAHARA is like swiss bank of India."


Samerer Dhamnani

"what is the company registered as? is it a ltd or pvt ltd or trust or Section 25 company? Sahara India Pariwar gives no clue to its constitution, which is mandated by companies act. nobody yet has given any clue on this aspect yet everybody calls it a company. "


The central bank also cautioned that it would not guarantee the repayment of deposits accepted by “Sahara India Financial Corporation Limited or any other company in that group.”
The public notice comes after RBI received complaints from individuals that the Sahara group is mobilizing money from the public under the generic name of Sahara Pariwar and Sahara India Pariwar.
“There appears to be a misconception in the minds of public that the Reserve Bank is the regulator of entire Sahara group of companies, leading to mistaken comfort in its deposit offers,” the RBI notice said.
Only three Sahara group entities are registered with RBI -- Sahara India Financial Corp. Ltd (SIFCL), Sahara India Corp Investment Ltd (SICIL) and Sahara India Infrastructural Development Ltd. (SIIDL)
Of these three entities, SIFCL, a residual non-banking company, has been directed by RBI to phase out acceptance of deposits from the public. SICIL and SIIDL are not authorized to accept deposits from the public.

The difference between approach of RBI & SEBI is evident. RBI took pain is solving the issue & the issue was resolved amicably, it found nothing such as fictitious depositors. The issue of unclaimed deposit will be there for any financial institution (bank, insurance company) which is dealing with public. SEBI instead of doing any effort is hiding behind Hon'ble Court and creating a unfortunate perception of making Hon'ble Court a party to the case. SEBI has made a mess of this case and giving a
impression that Sahara is not fighting case "IN" Hon'ble Court but is
fighting a case "WITH" Hon'ble Court. Very unfortunate for the
Country.
Only amicable solution to the problem is that Hon'ble Court should make Sahara & SEBI sit together for resolving the issue under its guidance. After all the issue involves Crores of Investors & lacs of Workers

Harshad Mehta & Ketan Parekh Scam

Harshad Mehta & Ketan Parekh Scam

Harshad Mehta: the high-profile stockbroker

Harshad Shantilal Mehta (1954-2002) was an Indian stockbroker who grabbed headlines for the notorious BSE security scam of 1992. Born in a lower middle-class Gujarati Jain family, Mehta spent his early childhood in Mumbai where his father was a small-time businessman. The family relocated to Raipur in Chhattisgarh after doctors advised Mehta’s father to shift to a drier place on account of his health.

Transition from an ordinary broker to ‘Big Bull’
Mehta studied in Holy Cross Higher Secondary School, Byron Bazar, Raipur. He quit his job at The New India Assurance Company in 1980 and sought a new one with BSE-affiliated stockbroker P. Ambalal before going on to become a jobber on the BSE for stockbroker P.D. Shukla. In 1981, Mehta became a sub-broker for stockbrokers J.L. Shah and Nandalal Sheth. Having gained considerable experience as a sub-broker, he teamed up with his brother Sudhir to float a new venture called Grow More Research and Asset Management Company Limited. When the BSE auctioned a broker’s card, the Mehta duo’s company bid for it with the financial support of J.L. Shah and Nandalal Sheth. Another name that is rumored to have a crucial hand in the scam was Nimesh Shah. However, Shah could keep a safe distance from the accusations and is currently known to be a heavy player in the Indian stock market.

By year 1990, Mehta became a prominent name in the Indian stock market. He started buying shares heavily. The shares of India's foremost cement manufacturer Associated Cement Company (ACC) attracted him the most and the scamster is known to have taken the price of the cement company from 200 to 9000 (approx.) in the stock market – implying a 4400% rise in its price. It is believed that It was later revealed that Mehta used the replacement cost theory to explain the reason for the high-level bidding. The replacement cost theory basically states that older companies should be valued on the basis of the amount of money that would be needed to create another similar company. By the latter half of 1991, Mehta had come to be called the ‘Big Bull’ as people credited him with having initiated the Bull Run.




The making of the 1992 security scam

Mehta, along with his associates, was accused of manipulating the rise in the Bombay Stock Exchange (BSE) in 1992. They took advantage of the many loopholes in the banking system and drained off funds from inter-bank transactions. Subsequently, they bought huge amounts of shares at a premium across many industry verticals causing the Sensex to rise dramatically. However, this was not to continue. The exposure of Mehta's modus operandi led banks to start demanding their money back, causing the Sensex to plunge almost dramatically as it had risen. Mehta was later charged with 72 criminal offences while over 600 civil action suits were filed against him. Significantly, the Harshad Mehta security scandal also became the flavor of Bollywood with Sameer Hanchate's film Gafla.


The 1992 security scam and its exposure

Mehta's illicit methods of manipulating the stock market were exposed on April 23, 1992, when veteran columnist Sucheta Dalal wrote an article in India's national daily The Times of India. Dalal’s column read: “The crucial mechanism through which the scam was effected was the ready forward (RF) deal. The RF is in essence a secured short-term (typically 15-day) loan from one bank to another. Crudely put, the bank lends against government securities just as a pawnbroker lends against jewelers. The borrowing bank actually sells the securities to the lending bank and buys them back at the end of the period of the loan, typically at a slightly higher price.” In a ready-forward deal, a broker usually brings together two banks for which he is paid a commission. Although the broker does not handle the cash or the securities, this was not the case in the prelude to the Mehta scam. Mehta and his associates used another instrument called the bank receipt (BR). Securities were not traded in reality in a ready forward deal but the seller gave the buyer a BR which is a confirmation of the sale of sec used this RF deal with great success to channel money through banks.

The securities and payments were delivered through the broker in the settlement process. The broker functioned as an intermediary who received the securities from the seller and handed them over to the buyer; and he received the check from the buyer and subsequently made the payment to the seller. Such a settlement process meant that both the buyer and the seller may not even know the identity of the other as only the broker knew both of them. The brokers could manage this method expertly as they had already become market makers by then and had started trading on their account. They pretended to be undertaking the transactions on behalf of a bank to maintain a façade of legality.

Mehta and his associatesurities. A BR is a receipt for the money received by the selling bank and pledges to deliver the securities to the buyer. In the meantime, the securities are held in the seller’s trust by the buyer.

Complicit lenders

Armed with these schemes, all Mehta needed now were banks which would readily issue fake BRs, or ones without the guarantee of any government securities. His search ended when he found that the Bank of Karad (BOK), Mumbai and the Metropolitan Co-operative Bank (MCB) two small and little known lenders, were willing to comply. The two banks agreed to issue BRs as and when required. Once they issued the fake BRs, Mehta passed them on to other banks who in turn lent him money, under the false assumption that they were lending against government securities. Mehta used the money thus secured to enhance share prices in the stock market. The shares were then sold for significant profits and the BR retired when it was time to return the money to the bank.

Outcome

Mehta continued with his manipulative tactics, triggering a massive rise in the prices of stock and thereby creating a feel-good market trajectory. However, upon the exposure of the scam, several banks found they were holding BRs of no value at all. Mehta had by then swindled the banks of a staggering Rs 4,000 crore. The scam came under scathing criticism in the Indian Parliament, leading to Mehta's eventual imprisonment. The scam’s exposure led to the death of the Chairman of the Vijaya Bank who reportedly committed suicide over the exposure. He was guilty of having issued checks to Mehta and knew the backlash of accusations he would have to face from the public.

A few years later, Mehta made a brief comeback as a stock market expert and started providing investment tips on his website and in a weekly newspaper column. He worked with the owners of a few companies and recommended the shares of those companies only. When he died in 2002, Mehta had been convicted in only one of the 27 cases filed against him. What attracted the taxman’s attention was Mehta's advance tax payment of Rs 28-crore for the financial year 1991-92. Another eye-catcher was his extravagant lifestyle.

I-T, PSBs recover dues nine years after Mehta's death

Nine years after Harsad Mehta died, the I-T department and public sector banks (PSBs) have successfully recovered a significant portion of their claims emerging out of the securities scam from his liquidated assets. The Supreme Court directed the Custodian of the attached properties and assets of the Harshad Mehta Group (HMG) in March 2011 to make payments of Rs1,995.66-crore to the I-T department and Rs 199.25-crore to the State Bank of India (SBI), making the two institutions two of the earliest claimants to recover their dues.

While the SBI’s total principal amount claim of Rs 1,000-crore have been largely settled, financial institutions have also received some money. However, Standard Chartered Bank, which had claimed Rs 500-crore, has yet to recover its dues it was one of the late claimants. Although the total claim over the HMG is of more than Rs 20,000-crore, the apex court has said that for the present, it would only consider claims towards the principal amount.

Who is Ketan Parekh

Ketan Parekh is a former stockbroker based in Mumbai who was convicted in 2008 for being involved in engineering the technology stocks scam in India’s stock market in 1999-2001. A chartered accountant by training, Parekh comes from a family of brokers and is currently serving a period of disqualification from trading in the Indian bourses till 2017.

Ketan Parekh has been accorded with sobriquets such as the Pentafour Bull and the One Man Army by the country’s national business newspapers, while the market simply refers to him as ‘KP’ or associates him with his firm NH Securities. Parekh is known to have no reluctance in meeting the press. He is also known to have razor-sharp forecasts on market developments.

What distinguishes Ketan Parekh from the 'Big Bull' late Harshad Mehta

The two have been compared by people to have operated their scams using similar means and that their backgrounds were similar as well. But the differences are very conspicuous.

At the outset, Mehta came from a lower middle-class and modest background, while KP’s family has been engaged as stockbrokers for a significant time. He is also related to many prominent brokers. Secondly, when Mehta was operating, the market was still a closed one and was just beginning to liberalize. It was revealed later that Mehta operated using the money of other people as his last recourse. Further, Mehta is known to have resorted to aggressive publicity campaigns whereas KP operates almost clandestinely. The latter has also been successful at creating stories and selling them aggressively to institutional investors.

The Midas touch

Parekh attracted the attention of market players and they kept track of every move of Parekh as everything he was laying his hands on was virtually turning into gold. But the Pentafour Bull still kept a low profile, except when he hosted a millennium party that was attended by politicians, business magnates and film stars. And by 1999-2000, as the technology industry began embracing the entire world, India’s stock markets started showing signs of hyper-activity as well and this was when KP struck.

Almost everyone, from investment firms which were mostly controlled by promoters of listed companies to foreign corporate bodies and cooperative banks were eager to entrust their money with Parekh, which, he in turn used to inflate stock prices by making his interest obvious. Almost immediately, stocks of firms such as Visual soft witnessed meteoric rises, from Rs 625 to Rs 8,448 per unit, while those of Sonata Software were up from Rs 90 to Rs 2,150. However, this fraudulent scheme did not end with price rigging. The rigged-up stocks needed dumping onto someone in the end and KP used financial institutions such as the UTI for this.

When companies seek to raise money from the stock market, they take the help of brokers to back them in raising share prices. KP formed a network of brokers from smaller bourses such as the Allahabad Stock Exchange and the Calcutta Stock Exchange. He also used ‘BENAMI’ or share purchase in the names of poor people living in Mumbai’s shanties. KP also had large borrowings from Global Trust Bank and he rigged up its shares in order to profit significantly at the time of its merger with UTI Bank. While the actual amount that came into Parekh's kitty as loan from Global Trust Bank was reportedly Rs 250 crore, its chairman Ramesh Gelli is known to have repeatedly asserted that Parekh had received less than Rs 100 crore in keeping with RBI norms.

Parekh and his associates also secured Rs 1,000-crore as loan from the Madhavpura Mercantile Co-operative Bank despite RBI regulations that the maximum amount a broker could get as a loan was Rs15-crore. Hence, it was clear that KP’s mode of operation was to inflate shares of select companies in collusion with their promoters.

Lady luck disfavours Parekh!

Notably, a day after the presentation of the Union Budget in February 2001, Parekh appeared to have run out of luck. A team of traders, Shankar Sharma, Anand Rathi and Nirmal Bang, known as the bear cartel, placed sell orders on KP’s favorite stocks, the so called K-10 stocks, and crushed their inflated prices. Even the borrowings of KP put together could not rescue his scrips. The Global Trust Bank and the Madhavpura Cooperative were driven to bankruptcy as the money they had lent Parekh went into an abyss with his reportedly favourite K-10 stocks.

The exposure of the dupe

As with the Harshad Mehta scam, Ketan Parekh's fraudulent practices were first exposed by veteran columnist Sucheta Dalal. Sucheta's column read, “It was yet another black Friday for the capital market. The BSE sensitive index crashed another 147 points and the Central Bureau of Investigation (CBI) finally ended Ketan Parekh’s two-year dominance of the market by arresting him in connection with the Bank of India (BoI) complaint. Many people in the market are not surprised with Parekh’s downfall because his speculative operations were too large, he was keeping dubious company, and he was dealing in too many shady scrips.”

When the prices of select shares started constantly rising, innocent investors who had bought such shares believing that the market was genuine were about to stare at huge losses. Soon after the scam was exposed, the prices of these stocks came down to the fraction of the values at which they had been bought. When the scam did actually burst, the rigged shares lost their values so heavily that quite a few people lost their savings. Some banks including Bank of India also lost significant amounts of money.

Dalal goes on to state that Parekh's scheme was not visible to a layman given the positive deflection that media had made him a hero while some of the biggest national dailies had even quoted him profusely on that year’s Union Budget. Dalal added that KP’s arrest and the uncanny similarity of his operations to the Harshad Mehta securities scam of 1992 vindicated the miserable inadequacy of the country’s regulatory system. The Securities Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) had remained complacent when the stock bubble was created during the latter half of 1999 and through 2000 while it had not bothered to take any action through 2001 when it was ready to burst.

Regards,

Ruchika Mandora

Dr Vinod Bhandari Arrested in PMT- 2012 Scam

Dr Vinod Bhandari Arrested in PMT- 2012 Scam

Had got Anticipatory bail in Pre- PG Fraud

The STF, on Thursday, arrested the Fraud Dr Owner and Chairman of Shri Aurobindu Medical College, Indore, Dr Vinod Bhandari MBBS in PMT- 2012-13 Fraud Case when he turned for recording his statement in Pre PG Admission Case, Armed with an anticipatory bail, said STF MP officials.

Senior Journalist and one of the Directors of the SAIMS Medical College Mr Umesh Trivedi was released on bail after interrogation. Dr Vinod Bhandari reached the STF Headquarters in Jehangirabad area with his Wife Dr Mrs Manju Bhandari, Son  Dr Mohit Bhandari and his advocate for recording his statement after the High Court granted him Anticipatory Bail.

The STF sources said he was questioned for two hours, SAIMS General Manager Pradip Raghuvanshi was earlier arrested on the revelation of Vyapam officers Nitin Mahindra and Pankaj Trivedi. After interrogation, the STF arrested him in PMT- 2012 case. Around 164 Fraudsters had got admission in medical colleges in 2012, as per the list submitted by the STF to medical education department. Other Medical Colleges of MP are also under Scanner.

The officials said Dr Vinod Bhandari had helped students to get admission through Vyapam officers. He will be further Interrogated by the STF after being produced in the court on Friday, said STF sources. Dr Vinod Bhandari was avoiding arrest since he had gone to Mauritius and got extended his VISA on Medical Grounds after his General Manager revealed entire modus operandi in Medical Admission Fraud case. Later, he got anticipatory bail from High Court in Pre PG admission case.

The STF however, arrested him in another case.

Sources said his involvement could be in PMT 2013 as well but it will be established only after cross checking various detail and his interrogation.

Dr. Vinod Bhandari, Reviews - Psychiatrist in Coldwater, MI

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Dr Vinod Bhandari arrested in PMT- 2012 scam - Free Press ...

Dr Vinod Bhandari arrested in PMT- 2012 scam Had got anticipatory bail in Pre- PG fraud BHOPAL: The STF, on Thursday, arrested the owner and chairman of Aurobindu ...

Reviews, phone number and office location information for Dr Vinod Bhandari, MD.

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Medical admission Scam Dr Vinod Bhandari’s arrest imminent Indore: SAIMS chairman Dr
Vinod Bhandari, whose last date for appearing before the Special Task Force ...

Dr Vinod Bhandari Indore in General Practitioners ...

Read about Dr Vinod Bhandari Indore in General Practitioners & Surgeons,Madhya Pradesh

His Son Dr Mohit Bhandari is Out from Police Net

Employees of Kingfisher Airlines have sought to file a First Information Report (FIR) Against Chairman cum MD Dr Vijay Mallya

So Many Employees of Kingfisher Airlines have sought to file a First Information  Report (FIR) Against Chairman cum MD Dr Vijay Mallya on grounds of abetment to Suicide, Exploitation, Fraud and Breach of Trust.

Employees in other parts of the country have been asked to follow court suit in their locations.

Visit

http://shekharaerosoft.blogspot.ca/2014/02/employees-of-kingfisher-airlines-have.html

Fraud Peoples  Of India  Find below they are On Bail or In Jain Or Still Out


Shri Suresh Kalmadi [ On Bail ]
Dr Vijay Mallaya  [ Still Out ]
Sant Shri Aasha Ram Ji Bapu Ji [ Jaild ]
Shri Subrato Roy Sahara [ Jaild ]
Dr Vinod Bhandari [ Jaild ]
Shri Tarak Bajpai [ On Bail ]
Shri Manish Kalani  [ On Bail ]

Add More .....

http://fraud-cheaters-of-india.blogspot.ca/2014/03/fraud-peoples-of-india.html


Coming More Very Soon .....

Recent Corruption Scandals,
World Vision India Fraud,
Country Club India Fraud,
Citibank India Fraud,
Western Union Fraud India,
Credit Card Fraud India,
List of Scams in India,

Fraud Peoples  Of India

This Blog is dedicated to all the Employers who recruit people to their Organisation. And Employees who wanted a Recruitment in an Organisation.
This Blog will help to Identify Fraud Companies  and People with Criminal
Background and Fraud nature so that Companies wont have any lose on This

Fraud Peoples Of India

Fraud And Cheaters  Persons of India

This Blog is dedicated to all the Employers who recruit people to their Organisation. And Employees who wanted a Recruitment in an Organisation.
This Blog will help to Identify Fraud Companies  and People with Criminal
Background and Fraud nature so that Companies wont have any lose on This. If any one wish  to share any Info about any Employers And Employees who to Identify Fraud Companies  and People with Criminal Background and Fraud Nature  most wel come to Share with Editors.

Fraud Peoples  Of India

Fraud Peoples  Of India  Find below they are On Bail or In Jain Or Still Out


Shri Suresh Kalmadi [ On Bail ]
Dr Vijay Mallaya  [ Still Out ]
Sant Shri Aasha Ram Ji Bapu Ji [ Jaild ]
Shri Subrato Roy Sahara [ Jaild ]
Dr Vinod Bhandari [ Jaild ]
Shri Tarak Bajpai [ On Bail ]
Shri Manish Kalani  [ On Bail ]

Add More .....

Coming More Very Soon .....

Recent Corruption Scandals,
World Vision India Fraud,
Country Club India Fraud,
Citibank India Fraud,
Western Union Fraud India,
Credit Card Fraud India,
List of Scams in India,

Fraud Peoples  Of India

This Blog is dedicated to all the Employers who recruit people to their Organisation. And Employees who wanted a Recruitment in an Organisation.
This Blog will help to Identify Fraud Companies  and People with Criminal
Background and Fraud nature so that Companies wont have any lose on This

Cheater Persons of India,
why indian men cheat,
indian man caught cheating,
personalities of cheating men,

Expectations from above are so Dangerous and Scary. They make you Weak, Dependable and Ends up in Disappointments!
Makes you Feel Silly and Sorry for Yourself ...
Why did I even Expect???