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SCAM:: RAILWAY BRIBERY SCAMAkanksha JhaII MBA JCBI arrested Vijay Singla, nephew of Indian Railway Minister Pawan KumarBansal, on 3 rd May 2013 for alleged bribery of `90 lakhs for fixing keyappointment in the railway board.It has been reported that Mahesh Kumar who was the member (staff) of therailway board, was to pay `10 crore for an appointment as member (electrical)on the board. The money to be given as bribe to Singla was raised by a groupof fellow business men, who were promised business from railways. Thesebusiness men were dealing with train equipments. Kumar was to pay half ofthe money in advance, before appointment and rest after his appointment as themember (electrical) of railway board.Kumar could not get the position as per his choice and was appointed as amember (staff). He was not happy with the results. Kumar was said to wait forthe elevation of the current member (electrical) Kulbhushan as a boardchairman after the retirement of the current chairman Vinay Mittal in June,2013. He agreed to wait on a condition that he will be allowed to continue asGM of Western Railways. For this he agreed to pay extra `2 crore of bribes.Railway Minister, Pawan Kumar Bansal refused his involvement in the case.He had to resign from his post on 10 th May 2013, after a long meeting held atthe Prime Minister’s house. CBI said that it may seek clarifications from theminister and his two sons Manish and Amit and at least one more nephew inconnection with the case.Ankit Dewani II MBA KBUZZWORD'Sin Stock'A stock of a company either directly involved in or associated with activitieswidely considered to be unethical or immoral. Sin stocks are found in sectorswhose activities are frowned upon by some or most of society, because they areperceived as making money from exploiting human weaknesses and frailties.Sin stock sectors therefore include alcohol, tobacco, gambling, and the military.Also known as “sinful stocks", they are the polar opposite of ethical investingand socially responsible investing, whose proponents emphasize investmentsthat benefit society.Reference:http://www.investopedia.com/terms/s/sinfulstock.asp19