We delve into the annals of India's financial history to explore headline-making scams that reshaped the nation's economic policies and regulations.
Harshad Mehta diverted funds from banks to the stock market with fraudulent bank receipts, resulting in a loss of billions of rupees.
2G spectrum licenses were allocated at undervalued prices, leading to a massive loss to the exchequer of around 1.76 lakh crore rupees.
Several government officials and contractors were accused of inflating costs and siphoning off funds meant for the event.
Satyam Computer Services founder Ramalinga Raju inflated the company's assets and profits by around 7,136 crore rupees.
The company collected money from investors and promised high returns but ultimately used the funds for other purposes.
Vijay Mallya, owner of Kingfisher Airlines, defaulted on loans worth thousands of crores, leading to a financial crisis for the lenders.
Diamond jeweller Nirav Modi defrauded PNB of over 13,000 crore rupees by using fraudulent LoU's to obtain loans from foreign banks.
A loss of around 1.86 lakh crore rupees was incurred due to the allocation of coal blocks to private companies without competitive bidding.