Value | Compounding Profile picture
Aug 2 14 tweets 2 min read Read on X
A major ₹2,500 crore medical education scam recently uncovered by India’s Central Bureau of Investigation (CBI). Here’s a detailed summary of what happened:🧵 Image
What Is the Scam About?

The investigation began in Raipur, when three National Medical Commission (NMC) doctors and staff were arrested for allegedly accepting ₹55 lakh to issue a favorable inspection report for the Rawatpura Sarkar Institute of Medical Sciences & Research.
This case snowballed into what CBI now calls one of India’s largest medical education scandals, implicating over 35 individuals across multiple states including Chhattisgarh, Madhya Pradesh, Rajasthan, Andhra Pradesh, Telangana, and more.
How the Scam Worked:

Officials from the Ministry of Health & Family Welfare and the NMC allegedly photographed internal files, inspection schedules, and assessor details and leaked them via personal phones to intermediaries and college representatives.
This advanced notice enabled colleges to prepare fraudulent setups during inspections.
Ghost or proxy faculty or fake degree certificates were presented to inspectors.
Biometric attendance systems were manipulated using cloned fingerprints to fake faculty presence.
Bribes and Money Channels:
Bribes ranged from lakhs to crores, sometimes routed through hawala or disguised through official bank channels.E.g. One Andhra agent collected ₹50 lakh in Visakhapatnam, while institutions like the Father Colombo Institute paid over ₹4 cr in Warangal
Part of the illicit funds were allegedly used to construct a ₹75 lakh Hanuman temple via intermediaries like Jitu Lal Meena.

Jitu Lal Meena, former member of the NMC’s Medical Assessment and Rating Board (MARB), was a critical middleman.
Key People & Institutions Named:

Ravi Shankar Maharaj ("Rawatpura Sarkar"), a godman and chairman of the Raipur institute, is named in the FIR.

D.P. Singh, former UGC chair and current TISS Chancellor.

Suresh Singh Bhadoria, chairman of Index Medical College in Indore.
Jitu Lal Meena and others include ministry officials, NMC inspectors, spiritual intermediaries like “Guruji” (Indra Bali Mishra), and college management representatives.
Institutions under scrutiny include Index Medical College (Indore), Gitanjali University (Udaipur), Gayatri Medical College (Vishakhapatnam), Father Colombo Institute (Warangal) and Rawatpura Sarkar Institute (Raipur).
The FIR names 34–35 individuals, including senior ministry officials, NMC inspectors, and private college representatives.

At least 8 arrests have been made so far, including three NMC doctors in the ₹55 lakh case and officials at Rawatpura's institute.
Additional cases include the CBI arrest of Dr. Tapan Kumar Jana, head of anatomy at Murshidabad Medical College, for taking ₹10 lakh from a private college in Belagavi in exchange for an inspection favor.
Charges filed include bribery, criminal conspiracy, breach of official secrecy, forgery, etc., under both Prevention of Corruption Act and Bharatiya Nyaya Sanhita.
Over 40 medical colleges are suspected of gaining approval through fraudulent means.
This scandal seriously undermines the credibility of medical education in India, raising public health concerns by letting poor quality institutions operate unchecked.

End of Thread.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Value | Compounding

Value | Compounding Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @oldschoolinvest

Jun 11
I’m going to create a thread of books I’ve read and can recommend to the investor community.🧵👇
1. Stocks to Riches by Parag Parikh:

A very good book for all investors, especially beginners. It explains the basics of investing in very simple language. A must-read.
amzn.to/4l1g9SE
2. 100 Baggers by Christopher Mayer:

It shows how to find stocks that can return 100x. It highlights long-term investing, strong growth, high returns on capital, and the power of patience and compounding.
amzn.to/4kVtz3f
Read 11 tweets
Oct 10, 2022
A thread on my mistakes in stock market so far. 🧵

I know many times I have boasted myself for doing well in stock market. Now let me share my blunders as well.
1. Buying debt-ridden & loss-making businesses in anticipation of turnaround:

I bought Punj Lloyd and Lanco Infra (in 2013 & 2014) at lower levels as I was greedy to earn more returns. I still hold both of them as I can remember that I won’t have to do it again.
2. Buying a loss-making business on dips:

I bought Suzlon first at 11 rs.and then kept buying on dips. Finally, I realized my mistake and sold it for no profit no loss after holding for couple of years. I was lucky enough to get my average buy price but learnt a valuable lesson.
Read 7 tweets
May 11, 2021
A thread on #Mucormycosis :

One of the lethal complications of Covid is Mucormycosis, also known as ‘Black fungus’ #infection. This dangerous fungal infection affects the nose, eye and sometimes the brain. My colleagues in ENT and Ophthalmology told me that previously (1/n)
...this disease was rare and they used to get only 1-2 cases per year but now they are getting 2-3 cases/day.Diabetics are more prone to suffer from this disease as high sugar levels are favourable for mucor’s growth. Excess use of steroids in Covid also increases...(2/n)
....the chances of developing mucormycosis as steroids tend to increase blood sugar levels. My colleagues told me that when sugar level crosses 200 mg/dl (Normal range: 70-140), there are higher chances of developing mucormycosis. (3/n)
Read 6 tweets
Jan 6, 2021
Investors’ 8 most common behavioral biases:
~Confirmation Bias
~Optimism Bias
~Loss Aversion
~Self-Serving Bias
~The Planning Fallacy
~Choice Paralysis
~Herding
~Recency Bias
#BehavioralFinance
~Confirmation Bias: Confirmation bias is the tendency to process information by looking for, or interpreting, information that is consistent with investor’s existing beliefs. E.g. An investor thinks that one can buy growth stocks at any prices so he searches articles of.....
‘buy growth stocks at any price’ and then confirms his belief with documentary evidences.

~Optimism Bias: Optimism bias is a bias that causes investors to believe that they themselves are less likely to experience a negative event. E.g. one believes that the stock market.......
Read 14 tweets
Sep 22, 2020
API product portfolio of RPG life sciences:
Azathioprine
Haloperidol & Haloperidol decanoate
Diphenoxylate hydrochloride
Mycophenolate Mofetyl Mycophenolate Na
Lamotrigine
Nicorandil
Tolvaptan
Spironolactone
Sertraline
Risperidone
Quinfamine
Propantheline Br
Pentoprazole Na Sesq
RPG's FORMULATION R&D HAS MADE KEY BREAKTHROUGH ACHIEVEMENTS:

1. Cyclosporine micro-emulsion Novel Drug Delivery System granted patent in about 20 countries including US and European countries

2. Lamotrigine Mouth Dissolving tablets patented internationally and India (1/3)
Cont.
3. Alfalog Tablets (alpha ketoanalogue), a novel formulation has been developed indigenously for chronic kidney disease.

4. Stable formulation of moisture sensitive anti-anginal drug using Fish Bone blister pack containing desiccant.(2/3)
Read 8 tweets
Aug 13, 2020
A thread: Acquisitions, mergers and demergers of Pharmaceuticals and Chemicals MNCs:
Ciba-Geigy AG, was a swiss pharmaceutical giant formed in 1970 from the merger of Ciba AG and J.R. Geigy SA. Ciba started out in the 1850s as a silk-dyeing business and branched out into pharma.
In 1996, the pharmaceutical business of Sandoz was merged with Ciba-Geigy to form Novartis and chemicals business of Sandoz was hived off to a different company named Clariant chemicals. Later, in December 1999 , the spin-off and merger of the agrochemical and seed division of...
...Novartis and the agrochemicals and biotechnology research divisions of AstraZeneca led to origin of an agrochemical giant Syngenta. (Astra Zeneca has retained its seed interests, a 50% stake in Advanta, a joint venture with Cosun.) Syngenta India was delisted in 2007 from....
Read 18 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(