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Independent Auditor gives clean chit
March, 15th 2010

The independent auditor appointed by the DoT to review the financial books of Bharti Airtel inorder to determine if the firm was resorting to manipulation of revenues to save down on annual licence and spectrum fees, has given a clean chit to the company over such allegations.

Manoj Kohli CEO & Jt. Managing Director of Bharti Airtel said, Bharti Airtel has always maintained the highest standards of corporate governance and has displayed highest regard for the regulatory compliance.

"This audit is another testimony of Bharti Airtels professional managements commitment & responsibility to its shareholders, government and regulatory bodies and is also a confirmation of the fact that Bharti Airtel always maintains highest standards of professional integrity by appointing best in the class statutory and internal auditors, added Kohli.

The independent auditor appointed to review Reliance Communications books had alleged that the company resorted to manipulating revenues.

The company however declined this and said the audit was not conducted in a fair and transparent manner. DoT is yet to take its decision over the matter.

The DoT had appointed independent auditors to review the financial books of all incumbent operators to determine if they were practicing under reporting of revenues to pay lesser amounts for annual licence and spectrum fees.

 
 
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