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RCom Special Audit: Govt may have lost Rs 250cr
December, 08th 2009

The Telecom Ministry has said a special audit carried out by a government-appointed auditor has shown Reliance Communications under-reported its revenue.

Reliance Communications under-reported its revenue during financial years 2006-07 and 2007-08, the ministry said, pegging the FY07 misrepresentation at Rs 1,0001,500 crore.

In April this year, the Department of Telecom (DoT) ordered a special audit on five telecom companies: Bharti Airtel, Vodafone-Essar, Tata Teleservices, Idea Cellular and Reliance Communication, amid concerns of misreporting of revenue and evasion of tax and licence fee.

In October, the DoT said the audit on Reliance Communications, conducted by a firm Parakh & Co, confirmed under-reporting, a claim questioned the company later. Reliance Communications slammed the special audit and accused it of being biased and said it conflicted with industry practices.

The Telecom Ministry today said the government may have lost Rs 250 crore on account of under-reporting.

 
 
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