What Indian Constitution established authority estimated the money scandal around the 2G Spectrum scam?
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2G spectrum scam The 2G spectrum scandal was an Indian telecommunications scam and political scandal in which politicians and government officials under the Indian National Congress (Congress) coalition government undercharged mobile telephone companies for frequency allocation licenses, which they used to create 2G spectrum subscriptions for cell phones. The Government chose NM Rothschild & Sons to design a first-of-its-kind e-auction mechanism in the world, a US$2.27 billion landmark deal. The difference between the money collected and that mandated to be collected was estimated by the Comptroller and Auditor General of India at () , based on 2010 3G and BWA spectrum-auction prices. In a chargesheet filed on 2 April 2011 by the Central Bureau of Investigation (CBI), the loss was pegged at million () . In a 19 August 2011 reply to the CBI, the Telecom Regulatory Authority of India (TRAI) said that the government had gained over () by selling 2G spectrum.
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Comptroller and Auditor General of India The Comptroller and Auditor General (C&AG) of India is an authority, established by the Constitution under Constitution of India/Part V - Chapter V/Sub-part 7B/Article 148, which audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government. The CAG is also the external auditor of Government-owned corporations and conducts supplementary audit of government companies, i.e., any non-banking/ non-insurance company in which Union Government has an equity share of at least 51 per cent or subsidiary companies of existing government companies. The reports of the CAG are taken into consideration by the Public Accounts Committees (PACs) and Committees on Public Undertakings (COPUs), which are special committees in the Parliament of India and the state legislatures. The CAG is also the head of the Indian Audit and Accounts Department, the affairs of which are managed by officers of Indian Audit and Accounts Service, and has over 58,000 employees across the country.
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National Financial Reporting Authority National Financial Reporting Authority (NFRA) is a body proposed in Companies Act 2013 for the establishment and enforcement of accounting and auditing standards and oversight of the work of auditors.
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Commission for the Investigation of Abuse of Authority Commission for the Investigation of Abuse of Authority
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University Grants Commission (India) The University Grants Commission of India (UGC India) is a statutory body set up by the Indian Union government in accordance to the UGC Act 1956 under Ministry of Human Resource Development, and is charged with coordination, determination and maintenance of standards of higher education. It provides recognition to universities in India, and disburses funds to such recognised universities and colleges. V.S. Chauhan is the incumbent chairman. Its headquarters is in New Delhi, and six regional centres in Pune, Bhopal, Kolkata, Hyderabad, Guwahati and Bangalore.
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Foreign Exchange Management Act The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India". It was passed in the winter session of Parliament in 1999, replacing the Foreign Exchange Regulation Act (FERA). This act makes offences related to foreign exchange civil offenses. It extends to the whole of India., replacing FERA, which had become incompatible with the pro-liberalisation policies of the Government of India. It enabled a new foreign exchange management regime consistent with the emerging framework of the World Trade Organisation (WTO). It also paved the way for the introduction of the Prevention of Money Laundering Act, 2002, which came into effect from 1 July 2005.
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Central Board of Excise and Customs The Central Board of Excise and Custom renamed as Central Board of Indirect taxes and Customs (CBIC) (Hindi:केंद्रीय उत्पाद एवं सीमा शुल्क बोर्ड) is the nodal national agency responsible for administering Customs, Central Excise, Service Tax & Narcotics in India. The Customs & Central Excise department was established in the year 1855 by the then British Governor General of India, to administer customs laws in India and collection of import duties / land revenue. It is one of the oldest government departments of India.
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Capital Market Development Authority Maldives The Capital Market Development Authority (CMDA) is the state entity responsible for the development and regulation of the securities market, and the capital market of Maldives. CMDA was established as an independent institution in 2006 with the passing of the Maldives Securities Act 2006. Prior to that, it was functioning as a separate Division of the Maldives Monetary Authority (MMA).
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Indian Institute of Corporate Affairs The Indian Institute of Corporate Affairs (IICA) is an agency under the aegis and jurisdiction of the Ministry of Corporate Affairs of the Government of India, handling and dealing with various subjects, matters and affairs in the arena and spectrum of corporate affairs regulation, governance and policy. It was established in 2008 at Manesar, Gurugram, Haryana, India. IICA works and operates to deliver as well as create avenues and opportunities for research, education, training and advocacy. Conceptually unique,It is the first institution in India to be formally set up as a ‘think-tank’ for a major Ministry of Government of India.
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ICRA Limited ICRA Limited (ICRA) is an Indian independent and professional investment information and credit rating agency. It was established in 1991, and was originally named "Investment Information and Credit Rating Agency of India Limited" (IICRA India).
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Indian Telecom Spectrum Auction In India, the Department of Telecommunications (DoT) conducts auctions of licenses for electromagnetic spectrum. India was among the early adopters of spectrum auctions beginning auctions in 1994.
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Mudgal Committee Mudgal Committee is a four member committee, headed by former High Court judge Mukul Mudgal and comprising Additional Solicitor General of India L Nageswara Rao and senior advocate and former cricket umpire Nilay Dutta to conduct an independent inquiry into the allegations of corruption against BCCI chief N. Srinivasan's son-in-law Gurunath Meiyappan, India Cements, and Rajasthan Royals team owner Jaipur IPS Cricket Private Ltd, as well as with the larger mandate of investigating allegations having to do with betting and spot-fixing in 2013 Indian Premier League matches and the involvement of players.
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Deendayal Upadhyaya Trust Deendayal Upadhyaya Trust is a charitable trust in Rajasthan noted for its involvement in a large land scam. The trust was founded by the Bharatiya Janata Party (BJP) leader Vasundhara Raje, at the time the Chief Minister of Rajasthan. The Trust was given prime land at 95% concessional rates by violating all norms. The land was returned after a media hue and cry, and after court insistence, corruption charges were filed.
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Information Technology Act, 2000 The Information Technology Act, 2000 (also known as ITA-2000, or the IT Act) is an Act of the Indian Parliament (No 21 of 2000) notified on 17 October 2000. It is the primary law in India dealing with cybercrime and electronic commerce. It is based on the "United Nations Model Law on Electronic Commerce 1996" (UNCITRAL Model) recommended by the General Assembly of United Nations by a resolution dated 30 January 1997.
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Lee–Chang scandal The Lee–Chang scandal (Korean: 이철희 장영자 어음 사기 사건 , "Yi Chol-hui–Jang Yeong-ja eoeumsagi sageon", "Yi Chol-hui–Jang Yeong-ja note fraud incident") was a serious South Korean financial scandal that unfolded in 1982 under the presidency of Chun Doo-hwan. Jang Yeong-ja was a curb market operator who provided industrial firms with loans, demanding notes worth many times the loan's value in return, on condition that the notes would not be resold. In this way, beginning with $7 million saved from the alimonies of her two former husbands, Jang came to personally manipulate almost $1 billion through her underground loan network, or 17% of the entire South Korean money supply. The network was uncovered when one of the firms, whose notes Jang had resold at a discount, complained to the authorities.
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Minister of Finance (India) The Minister of Finance (or simply, finance minister) is the head of the Ministry of Finance of the Government of India. One of the senior-most offices in the Union Cabinet, the finance minister is responsible for the fiscal policy of the government. As part of this, a key duty of the Finance Minister is to present the annual Union Budget in Parliament, which details the government's plan for taxation and spending in the coming financial year. Through the Budget, the finance minister also outlines the allocations to different ministries and departments. Occasionally, he is assisted by the Minister of State for Finance and the lower-ranked Deputy Minister of Finance.
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SNC-Lavalin Kerala hydroelectric scandal The SNC-Lavalin Kerala hydroelectric scandal is financial scandal related to a hydroelectric infrastructure contract between the Indian government and Canadian company SNC-Lavalin in 1995 which resulted in an alleged net loss to the Indian exchequer of 374,50,00,000 rupees (Approx US $62 million as of August 2014).
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Judiciary of India The Indian Judiciary administers a "common law system" of legal jurisdiction, in which customs, precedents and legislation, all codify the law of the land. It has in fact, inherited the legacy of the legal system established by the then colonial powers and the princely states since the mid-19th century, and has partly retained characteristics of practices from the ancient and medieval times.
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M/S R.M.D.C (Mysore) v. State of Mysore M/S R.M.D.C (Mysore) v. State of Mysore, (AIR 1962 SC 594) was a judgment of the Supreme Court of India, dealing with constitutional law, where the Court utilized the doctrine of colourable legislation. This is a landmark case on Centre-States relations in India, and was decided in favor of the erstwhile State of Mysore. This case dealt with issues of conflict between the States and Union regarding legislative competence. It further held that surrender of legislative competence by a state to the Union under article 252(2) of the Indian Constitution does not amount to surrender of powers of taxation.
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National Commission for Safai Karamcharis National Commission for Safai Karamcharis is an Indian statutory body was established through National Commission for Safai Karamcharis Act, 1993.
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Corruption in India Corruption in India is an issue that adversely affects the country's economy and the credibility of central, state and local government agencies. Not only has it held the economy back from reaching new heights, but rampant corruption has stunted India's development. A study conducted by Transparency International in 2005 recorded that more than 92% of Indians had at some point or another paid a bribe to get a job done in a public office.
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Corruption in Mauritius Corruption in Mauritius is a widespread and growing problem. In cables leaked from the US embassy the problem with corruption was referred to as "pervasive and ingrained". The Independent Commission Against Corruption (ICAC) investigates offenses and can confiscate the proceeds of corruption and money laundering. In 2008, the Director of the Mauritius Customs service stated that stated that, during a meeting on April 11, 2008, with government officials, including the Financial Secretary of the Ministry of Finance and Economic Development and Deputy Commissioner of Police, he was told in no uncertain terms that he should remain quiet about the alleged corruption because if it were to become public, it could bring down the current government of Mauritius. In 2013, Dutch dredging group Boskalis has been fined the equivalent of €1000 by a court in Mauritius for making illicit payments to a port official. In February 2016, the outgoing United States ambassador to Mauritius stated that there is so much turmoil at the Independent Commission Against Corruption that it has lost its credibility. In April 2016, the Independent Commission Against Corruption opened an investigation in the recruitment of the director of the Independent Broadcasting Authority (Mauritius). In April 2016, the Independent Commission Against Corruption recommended formal proceedings against the former Minister of the Environment. In May 2016, the representative of Cisco System filed suit against the National Computer Board and executives of the Mauritius Qualifications Authority. It was alleged that a bribe is required for all government projects.