Busmasura

Meaning: An ill-fated bus that swallows the lives of its passengers.
Pronunciation: Bus-ma-su-ra.
Usage: The 72 passengers on the highway to Ghaziabad had no clue that they had boarded a busmasura.
Root: Bus + Bhasmasura (a demon from Hindu Mythology who destroys the very man who empowered him).

Shinaman

Meaning: One who adds sheen to the cricket ball using saliva.
Pronunciation: Shiner-man.
Usage: There's a difference between ball tampering and playing shinaman.
Root: Shiner + Chinaman (a cricketing term).

Chennaisa

Meaning: A cosmopolitan islamic school.
Pronunciation: Chen-ny-sa.
Usage: The easiest way to root out jihadis is to create more chennaisas.
Root: Chennai (new name of Madras) + Madrasa (arabic for islamic school)

Chessnokov

Meaning: A common name to notate Russian chess players.
Pronunciation: Chess-no-kov.
Usage: The tournament had its share of chessnokovs.
Root: Chess + -nokov (a popular russian name suffix)

Bhejaculation

Meaning: Mental masturbation.
Pronunciation: Bhay-ja-q-lay-shun.
Usage: Conference rooms are venues for bhejaculation.
Root: Bheja (Hindi slang for brain) + Ejaculation.

Sarcar

Meaning: An automobile that carts government of India officials/dignitaries. Invariably a white ambassador.
Pronunciation: Sur-car.
Usage: A caravan of sarcars descended upon the forsaken village one day before the election.
Root: Sarkar (Hindi word for Government) + Car.

Penicotine

Meaning: A pen used vicariously as a cigar/cigarette.
Pronunciation: Penny-co-teen.
Usage: In the Anbumani regime, bollywood villains will be forced to hold penicotines on screen.
Root: Pen + Nicotine.

Elarocism

Meaning: Tendency to mix up the letter l with r.
Pronunciation: El-la-ro-cism.
Usage: The Japanese are prone to elarocism as their language has no phoneme equivalent of the English 'l' or 'r'.
Root: El (phonetic L) + A (phonetic R) + -Cism (suffix cueing a state or condition).

Mincetrument

Meaning: A device capable of cutting or chopping things.
Pronunciation: Mins-true-ment.
Usage: Kapil Sibal was used as a mincetrument in the Lok Sabha debate to dice through the shallow arguments of the BJP.
Root: Mince (to cut) + Instrument.

Slowcality

Meaning: Where nothing much changes.
Pronunciation: Slo-cal-litty.
Usage: Nehru's obsession with socialism reduced India to a slowcality.
Root: Slow + Locality.

Fileanthropist

Meaning: A forwarder of interesting files.
Pronunciation: File-lan-thrope-ist.
Usage: The difference between a fileanthropist and a spammer is the benign motivation.
Root: File + Philanthropist.

Shirkular

Meaning: A resignation letter cced to all.
Pronunciation: Shirk-q-lar.
Usage: After the raise freeze, I vented my frustration by posting a colorful shirkular on the bulletin board.
Root: Shirk + Circular.

Lilustrious

Meaning: Eminent at a young age.
Pronunciation: Lil-lust-ri-yus.
Usage: Ajit Tendulkar would have been envious of his lilustrious kid brother.
Root: Lil (small) + illustrious.

Shushpicion

Meaning: Snuffing out suspicion by rounding up the usual suspects.
Pronunciation: Shush-pi-shun.
Usage: Cops enact the charade of shushpicion whenever there is a terrorist incident.
Root: Shush (silence) + Suspicion.

Prophecease

Meaning: Stop forecasting.
Pronunciation: Prof-a-cease.
Usage: I used to predict the results of one-day matches. After the world cup debacle, I've kinda propheceased.
Root: Prophecy + Cease.

Tonguerezi

Meaning: Indians whose mother tongue is English.
Pronunciation: Tongue-ray-zee.
Usage: Tonguerezis are Angrezis with an Indian birth certificate.
Root: Tongue (mother tongue) + Angrezis (the English).

Spockult

Meaning: Rooted in rational thinking. Basically, the antonym of Occult.
Pronunciation: Spock-cult.
Usage: In macro economics, it pays to rely on spockult.
Root: Spock (the star trek character and epitome of logical thinking)+ Occult (concealed).

Sulk Mail

Meaning: The act of not replying to mails as a silent expression of resentment.
Pronunciation: Rhymes with Bulk Mail.
Usage: Sulk Mails work brilliantly with girlfriends.
Root: Self explanatory.

Mian Culpa

Meaning: Husband at fault.
Pronunciation: Me-yaan-cul-pa.
Usage: Bill Clinton's expected to do a 'mian culpa' number while campaigning for Hillary.
Pronunciation: Mian (Urdu for husband) + Mea Culpa (Latin for my fault).

Beeverage

Meaning: Any honey tinged drink.
Pronunciation: Beaver-age.
Usage: Beevarges are highly recommended for infants.
Root: Bee Beverage.

Bopraybop

Meaning: An expression of surprise, awe or shock.
Pronunciation: Bop-ray-bop.
Usage: Bopraybop! You've really bloomed into one buxom woman.
Root: An anglicised form of hindi expression baap-rey-baap.

Specuniary

Meaning: Concerning notional money.
Pronunciation: Speck-queue-ni-ya-ry.
Usage: Market capitalisation is purely specuniary.
Root: Spec (short form for speculative) + Pecuniary (pertraining money).

Dosamosa

Meaning: A dosa with a filling.
Pronunciation: Dho-sa-mo-sa.
Usage: The dosamosa is the future of the dosa.
Root: Dosa + Samosa (a fried snack with a filling).

Unoliteraverb

Meaning: One letter word.
Pronunciation: Oo-know-litra-verb.
Usage: I is the most used unoliteraverb.
Root: Uno (latin for one) + Litera (latin for letter) + Verb (word).

Shrnk

Meaning: To devowelize.
Pronunciation: Sh-r-nk.
Usage: The word devowelization ironically uses vowels. To correct this anomaly I am suggesting the usage of shrnk.
Root: The sms version of Shrink.