In the latest development over the issue of alleged misrepresentation of revenue by Reliance Communication, market regulator Securities and Exchange Board of India (SEBI) will look into the matter. CNBC-TV18s Vivek Law reports.
A government-appointed audit that showed gaps in revenues stated Reliance Communications revenue has now caught the SEBIs attention.
The Department of Telecom (DoT) audit has claimed a gap of Rs 2,900 crore in the companys actual and stated revenue.
SEBI is likely to ask for a report from the DoT and conduct a separate investigation into the issue.