RCom faces new front of inquiry: icai wants details | business | Hindustan Times
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RCom faces new front of inquiry: icai wants details

business Updated: Oct 14, 2009 21:44 IST
HT Correspondent
HT Correspondent
Hindustan Times
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The Institute of Chartered Accountants of India has asked Anil Ambani promoted Reliance Communication to provide financial details after an alleged report by a special audit that the company has been overstating its revenues.

The special audit is understood to have indicated that the company has overstated revenues to the tune of Rs 2,915 crore in 2007-08 while evading payment of Rs 315 crore in licence fee.

RCom spokesperson said the company is in full compliance of license terms and conditions. The spokesperson said that all revenue figures have been correctly reported.

UP Agarwal, president, IACI refused to comment on the issue.

Special audits are underway for other mobile operators including Tata Teleservices, Bharti Airtel, Idea and Vodafone as well. The reports of these companies are yet to come.

The government has appointed special auditors to vet the books of mobile operators.