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Jamnalal Bajaj Institute Of

Management
Telgi Scam
Presented By
Group:14

Joshna Chipkar.: 16-F-215


Ankita Desai.: 16-F-222
Saurabh Deshpande.: 16-F-223
Sanchita Kadam.: 16-F-239
Jay Mandavkar.: 16-F-252
Priyanka Mudbidri.: 16-F-260
Introduction
• Abdul Karim Telgi- the lead role of the fake stamp
paper scam
• Scam exposed links with various politician and top
officials
• One of the biggest scam India has ever faced
• Telgi’s network spread across 13 states involving 176
offices, 1000 employees and 123 bank accounts in 74
cities
Early Life
• Born – 1961
• Schooling – Sarvodaya Vidyalaya
• Graduation (B.com) – Belgaum college
• He moved to Saudi Arabia. Came to Mumbai after
seven years (1980s)
• Worked as a travel agent
• Later he worked in colaba guest house.
What is the Scam
• Telgi Scam – Valued at 3000 cr
• Two Aspects – Creation of Counterfeit
Documents and Creating scarcity of original documents
• He started with fake passport , stamps then stamp papers
• Bribe Indian security press to obtained govt printing
machine
• Main Buyers were RBI, Government, Insurance company,
BSE
• He had over 350 employees under him
• To create a scarcity- Original Documents were Dispatched
to address which didn’t exist
Key Players
• Two MLA’s – Anil Gote (MLA Dhule,
Maharashtra) and Krishna Yadav (Himayat
Nagar, Andhra Pradesh)
• Former A. P. minister C.B.K. Yadav
• Former Mumbai Police Commissioner R.S.
Sharma
• Former Joint Commissioner of Police, Crime
Branch, Mumbai, S.S. Vaghal
• Former Deputy Commissioner (Detection) of
Mumbai Police, Pradip Sawant
• Kishore Patil (suspended IPS Officer)
The Operation involvement
• Stamp Paper
• Judicial Court Fee Stamp
• Non-Judicial Stamp
• Revenue Stamp
• Special Adhesive Stamp
• Foreign Bills
• Broker Notes
• Insurance Policies
• Share Transfer Certificates
• Insurance Agency Stamp
How did the scam came to light
• It was the arrest of two men who were transporting fake
stamp papers on 19th August 2000 in Bengaluru on a
police tip-off. During their interrogation these men
spilled beans about a network supplying these fake
documents, resulting in raids across country.
• During these raids police recovered fake stamp papers
& other legal documents worth over nine crore rupees.
• In this investigation Abdul Karim Telgi’s Name
emerged, but back in 2000 he was one of the
absconding suspects.
• It was only after the arrest of Telgi in November 2001,
the magnitude of scam was revealed.
Method followed by Telgi
• His agents would first talk to the henchmen of
politicians.
• As the next step he would build a chain of ‘reliable
contacts’ through the first contact and deals were struck
in his presence.
• Telgi would then offer them a State wide contract.
• Telgi floated several companies, including a film
distribution agency to facilitate his activity.
• He recruited unemployed youth to sell counterfeit
stamps at 2 per cent discount. Chit companies, along
with courts and real estate agencies, were his prime
targets. Method followed by Telgi
Numerical Figures
• According to The Special Investigating Team (SIT) of the
Maharashtra Police, the total value of the scam was
Rs.21,28,47,07,824.

• Later this was revised to Rs.32,000 crores by the Union


Home Secretary.

Seized fake stamps, valued at Rs.170 crores, displayed in


Bangalore. Numerical figures
• EX-Finance Minister Jaswant Singh was Speaking in
the Lok Sabha on a calling attention motion on the
stamp paper scam, the minister said the agencies had
registered 74 cases in this connection, with 39 against
chief accused Abdul Karim Telgi.

• Special Investigation Team (SIT) first took the case


during 1995-2003 and then handover stamp scam cases
to Central Bureau of Investigation (CBI) on April 13,
2004
Court’s Verdict

• On June 28, 2007 Telgi was sentenced to rigorous


imprisonment for 13 years.
• Fined a whopping Rs. 202 crore on various counts in
one of the 39 cases registered against him.
• Honorable Judge Chitra Bedi sentenced 43 other
accused in the case, who too had pleaded guilty, to
rigorous imprisonment for up to six years and imposed
fines on them.
Impact Of Telgi
• Public sector bank became more responsible
• Government verified the stock of Stamp Papers with
Authorized vendors.
• Bank managers ensured that further transactions are
proper.
• Public/People suffered the most as legal cases were
delayed due to declaration of stamp papers as fake
papers