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SEBI to look into audit issue

October, 15th 2009
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.