Goondhari

Meaning : Someone that turns the blind eye to illegal activity.
Pronounciation : Goon-Dhaa-Ree
Usage : Indian cops turn goondhaaris when it comes to challenging people who work for politicians.
Root : Goon + Gandhari (A character in the Mahabharatha)

Kunemia

Meaning : A degenerative disease of the spinal column that typically affects Indian politicians(esp. those from Tamil Nadu) leading to lack of self respect, morality and resolve. Physical characteristics of the disease include stooping before other political leaders or even falling on the floors at the feet of the same.
Pronounciation : Kun-E-Mia
Usage : Kunemia almost reached the status of an epidemic, when former Chief Minister of Tamil Nadu, Ms.Jayalalitha was in power.
Root : Kun-e/Kuni(Stoop in Tamil language) + Anemia

Splat Personality

Meaning : Someone that exhibits self-destructive behavior 
Pronounciation : Easy

Usage : The daredevil Evel Knievel had splat personality.
Root : Splat(what happens when the parachute fails to open) + split personality

Runny Mookerji

Meaning : Someone that has the flu and yet won’t take precautions to not spread the same
Pronounciation : Runny-Mooker-G
Usage : “If you want, you can take an unpaid vacation, but I don’t want to see any runny mookerjis around the kitchen”, said Mr.Mukherji, the restauranter.
Root : Rani Mukerji + Runny Nose + Mooku(Nose in the Tamil language)

Mexorcism

Meaning : The act of chasing away illegal immigrants
Pronounciation : Mex-or-sy-zm
Usage : The state of Arizona is the first to take mexorcism to a whole new level.
Root : Mexico/Mexican + Exorcism

Thunder Wear

Meaning : Provocative Dressing
Pronounciation : Easy
Usage : Gone are the days of just Disco Santhi and Silk Smitha being under dressed. Nowadays most cinema actresses use thunder wear to attract their audiences!
Root : Thunder(and flashy) + Underwear

Nagatha Christie

Meaning : Someone who is prone to biting their nails in suspenseful situations.
Pronounciation : Nug-aa-thaa-Christie
Usage : The interviewee showed what a Nagatha Christie he was by leaving a pile of chewed off nails on the interviewer’s desk. The pile included toe nails!
Root : Nagam (means finger nails in the Tamil language) + Agatha Christie (you know who)

Kalaimashani Award

Meaning : Award given to artists (mostly movie) for terrible performances
Pronounciation : Cull-I-Ma-Shun-E
Usage : For torturing his audiences with a role that was just a repeat of all his previous movies Tamil actor Vijay, won the Kalaimashani award in 2009 for his role in ‘Vettaikkaran’.
Root : Kalaimamani (An award given to artists by the Tamil Nadu Government) + Shani(In Indian astrology, Shani or the planet Saturn influences a person’s life negatively during his/her lifetime)

IVS

Meaning : Irritable Vowel Syndrome
Pronounciation : Easy
Usage : If the nuances of the English language, make you want to bang your head, when pondering whether you want to insert a 'an' or 'a' before words like 'unique umbrella', then rest assured, you are suffering from IVS!
Root : IBS

Thaaliban

Meaning : The Wife
Pronounciation : Thaw-Lee-Bon
Usage : After marriage, the thaaliban is everywhere.The thaaliban knows what you see and what you speak.Watch what you do and obey the rules set up by the same else your life will get really miserable.
Root : Thaali(the ceremonial thread worn by married women in India) + Taliban
Also : Thalibehn - the dreaded elder sister(sometimes even younger) and
          Thalibahu - the much dreaded daughter-in-law

Some other words

Talibang - what just happened to the suicide bomber!
Talibandana - The famous turbans worn by them!
Talibana - Taliban country (Inspired by Americana).Examples - Swat, Kandahar,etc.
Talibunk - The guy that didnt show up for the suicide bombing.

Flea Iacocca

Meaning: A really bad CEO who screws the company he works for and yet leaves, a very rich man.
Pronounciation : Easy
Usage : Hank McKinnell, Pfizer's former CEO is a good example of a Flea Iacocca.He earned $198 million, including $78 million in deferred compensation that he built up in 35 years at the pharmaceutical company. Pfizer shares sank 40% on his watch, which ended last year. The company had to cut billions in costs and fire thousands of employees, and said it wouldn't see revenue growth until 2009.
Source + Other 'Fleas' here.
Root : Flea + Lee Iacocca

Claygiarism

Meaning: What a potter does.
Pronounciation : Easy
Usage : If a novelist can be pulled up for plagiarism, for writing something similar, why can't a potter too, since he creates similar looking mud pots compared to other potters?
Root : Clay + Plagiarism

Al Gebra

Meaning: One of the terror modules of Mathematics.
Pronounciation: Easy
Usage: I wonder how many victims Al Gebra has claimed since its origins.
Root: Al Qaeda + Algebra.
Factoid : Algebra derives its name from the Arabic word,Al-Jabr.

Hymnast

Meaning: A proficient classical singer.
Pronounciation: Easy
Usage: MS was a grand hymnast.
Root: Hymn + gymnast.

Appalamacy

Meaning: Belligerence.
Pronounciation: Up-lam-uh-see
Usage: India better start using some appalamacy in tackling Pakistan...they are getting audacious by the day.
Root: Appalam (a very thin wafer made of rice flour used as a side dish in South India. The wafer is made by flattening rice batter) + Diplomacy.

Mammouth

Meaning: Garrulous.
Pronounciation: Easy
Usage: US Senator Strom Thurmond proved that he was a mammouth by speaking continuously for 24 hours at the US Senate,in an unsuccessful attempt to block the passage of the Civil Rights Act of 1957.
Root: Mammoth + Mouth.

Eeriod

Meaning: Weird confused state experienced by men when women of their household inform them of the start of their periods.
Pronounciation: E-ree-yud
Usage: A typical Eeriod lasts a few days and may happen multiple times in a month, depending upon the number of females in the household.
Root: Eerie + Period

Maytell Detector

Meaning: A purported mysterious device that tracks whether employees smuggle office supplies home. Can be set to various settings, such as 'ignore small items' like paper clips, erasers,etc but crack down on staplers, OC photocopies, potted plants, office equipment,etc.There is the 'WillTell' mode, where anything you try to smuggle out, is reported.
Pronounciation: Easy
Usage: As soon as the HR people spread rumors of deploying a maytell detector, office supplies miraculously stopped vanishing.
Root: May tell + Metal Detector

Soptical Illusion

Meaning: Make believe gains.
Pronounciation: Sop-tee-cul E-lew-shun
Usage: Though we end up paying for both products, the 'Buy One, Get One Free!' concept is probably the most repeated(and successful) soptical illusion that marketers indulge in!
Root: Sop + Optical Illusion

Hundicap

Meaning: Monetarily challenged.
Pronounciation: Hoon-dee-cap
Usage: I guess unlike the small temples on the road side, the Tirumala temple is never hundicapped.
Root: Hundi(Coffer in any indian language) + handicap
Also, Bondicap - Completely bankrupt! (from Bondi - Tamil for bankrupt)

Gabode

Meaning: Awful smelling residence!
Pronounciation: Gub-bode
Usage: Bachelors live in gabodes!!Yeah,me too.
Root: Gabbu(Tamil for stink) + Abode

Sayonaari

Meaning: That girl who bids adieu to her mate once she comes to know that he's run out of money.
Pronounciation: Suy-o-naa-ree
Usage: The United States probably has the highest number of sayonaaris that want to have a good time at some other person's expense and vamoose once the money runs out.
Root: Sayonara(Japanese for Goodbye) + Naari (Hindi for woman)

Crookshetra

Meaning: Place inhabited by criminals(or crooks).
Pronounciation: Crook-shay-thra
Usage: New Delhi is a prime example of a crookshetra as most of our MPs(Members of Parliament) infest it(and you probably thought I would mention our jails).
Root: Crook + Kurukshetra(A place where the final war of the Mahabharata occurred)

Deja Woo

Meaning: An effort to use deja vu as an ice breaker with the opposite sex.
Pronounciation: Same
Usage: "Haven't I seen you before?" or "Haven't we met before?" are perfect examples of deja woo at work.
Root: Deja Vu + Woo

Maroma

Meaning: Aroma that you could die for!!
Pronounciation: Mur(as in murder)-o-ma
Usage: I wonder how our South Indian Vetha Kozhambu derives its maroma?!!!SLURP!!
Root: Mar(Hindi for die) + Aroma

The Ama Sutra

Meaning: The Art of saying Yes(to your Boss).
Pronounciation: Aa-ma sooth-raa
Usage: One way to make it big in the Corporate world is to follow the principles of the Ama Sutra.
Root: The Kama Sutra + Ama('Yes' in the Tamil Language)
Also: Harmasutra - A set of principles to cause harm(a big follower of this is the CIA!).

Bamerang

Meaning: Something in our control, that goes out of control and comes back to hurt us...real bad.
Pronounciation: Bam-uh-rang
Usage: I bet the Indian intelligence agency,RAW, would never have imagined what a bamerang the LTTE would turn out to be.
Root: Bam + Boomerang
Also: Whamerang - A bamerang of immense proportions!

Naksha Bandhan

Meaning: A pact to respect the sovereignty of nations.
Pronounciation: Nuck-shaw bun-dhun
Usage: Just imagine how peaceful life would be if the United Nations required all member nations to sign a Naksha Bandhan. Of course the USA would not.
Root: Raksha Bandhan + Naksha (map, in this case border, in the Hindi language or is it Urdu?)

Pheno-menon

Meaning: A very popular guy from Kerala.
Pronounciation: Fay-no-may-nun
Usage: I am not sure who would fall into the category of a pheno-menon: Mammotty or Mohan Lal?!
Root: Phenomenon + menon (popular last name from Kerala)

Sivaji Syndrome

Meaning: A phenomenon where one bunch of fools decide that another must be made immensely popular and rich(at their expense).
Pronounciation: Easy
Usage: Apart from movie stars, even politicians and sportsmen(read as a few cricketers) have benefited immensely from the Sivaji Syndrome.
Root: Sivaji (a movie starring Tamil superstar Rajinikant that catered to sellout crowds who not only overpaid but also waited overnight to get tickets.Needless to say Mr.Rajinikant has become a richer man).

Netasaurus

Meaning: That old imbecile of a politician that simply refuses to quit Indian politics.
Pronounciation: Nay-tha(as in thomas)-saw-rus.
Usage: Unless all our country's netasauruses retire soon, Steven Spielberg may soon commence production of Jurassic Park 4 in India!
Root: Neta(Political Leader in hindi) + dinosaurus

Shove sena

Meaning: Gang of bullies.
Pronounciation: Shove-say-na
Usage1: Whenever the students in my college created a ruckus, the authorities would immediately dispatch the in-house shove sena to keep us in control and/or threaten us with dire consequences. This sena also doubled up as peons and watchmen when not in 'action'.
Usage2:For all the mischief and the bullying, that the shiv sainiks indulge in, their organization should be renamed as 'shove sena'.
Root: Shiv Sena + shove(push rudely)

Yaarnivore

Meaning: Somebody that lives off or feeds off friends.
Pronounciation: yaarr-nee-vore
Usage: In my short lifetime, I've seen quite a few yaarnivores.Infact, I see one everyday in the mirror!
Root: Yaar(hindi for buddy) + Carnivore
Also: Barnivore - Someone who doesn't drink and yet goes to the bar to feed off the sidedishes that other drinkers order.Hehehe...I am one too!:D

Horrorscope

Meaning: A horscope that spells doom for the family one is married into.
Pronounciation: Haar-ur-scope
Usage: Aishwarya Rai's horrorscope must have given sleepless nights to Bachchans!
Root: Horror + horoscope

AWSD Syndrome

Meaning: Extreme addiction to gaming on the PC.
Pronounciation: Easy
Usage: I am suffering from a relapse of the AWSD syndrome...don't know when I am going to kick the habit!
Root: A,W,S & D are the keys on your PC's keyboard that are generally used to control movement of your characters in computer games.

Sweardplay

Meaning: Wordplay on swear words.
Pronounciation: Easy
Usage: Thanks to his superior sweardplay, he confounded his opponent by saying three swear words in one breath.
Root: Swear + Swordplay

Contributed by humorist Anand Ramachandran, of Son of Bosey and Papayas Are People, too fame.

Blop

Meaning: A Blog that flopped.
Pronounciation: Blaap
Usage: Most blogs finally end up as Blops as the writers either get bored or run out of creativity. A good example is Al-Bacteria.
Root: Blog + Flop

Chuckravyuha

Meaning: A plot to bring disrepute to a cricketer by claiming his use of suspicious bowling (or 'chucking')techniques.
Pronounciation: Chuck-raa-view-ha
Usage: I am just surprised how only Asian cricketers are targeted in these chuckravyuhas.
Root: Chakravyuha(a battle strategy used in the Mahabaratha to encircle and ensnare one's opponent) + chucking

Ruebok

Meaning: Bad shoes.
Pronounciation: Rue-boke (as in Coke)
Usage: I could just tell by looking at him that he didn't like his new rueboks.
Root: Reebok + Rue