RCom, Tata Teleservices, Bharti Airtel top revenue defaulters: Auditor

[rahul1117kumar]

Government has suffered a loss Rs 12,488.93 crore as six private telecom operators including RCom and Bharti Airtel understated gross revenue by Rs 46,045.75 crore from 2006-07 to 2009-10, CAG said today. The Comptroller and Auditor General of India (CAG) presented its report on sharing of revenue by private telecom service providers (PSPs) in Parliament today.
“Verification of records of six PSPs indicated total understatement of Rs 46,045.75 crore in gross revenue (GR), having corresponding impact of Rs 3,752.37 crore on licence fee (LF) and Rs 1,460.23 crore on spectrum usage charge (SUC). The interest on this short/non-payment of LF and SUC works out to Rs 7,276.33 crore,” CAG said.
The report contains significant findings on correctness and completeness of revenue share paid to the government by Bharti Airtel,
Vodafone India, Reliance Communications,
Idea Cellular , Tata Teleservices and Aircel
along with their subsidiaries for the period from 2006-07 to 2009-10. The financial impact due to understatement of gross revenue stood at Rs 1,507.25 crore for Reliance Communications, Rs 1,357.68 crore for Tata Teleservices , Airtel (Rs 1,066.95 crore), Vodafone (Rs 749.85 crore), Idea (Rs 423.26 crore) and Aircel (Rs 107.61 crore), the CAG said.
On April 2014, the Supreme Court permitted the CAG to audit service providers’ accounts.


RCom, Tata Teleservices, Bharti Airtel top revenue defaulters: Auditor | Latest Tech News, Video & Photo Reviews at BGR India

 

[jpja]

AirtelVodafoneIdeaRComTata Tele Aircel charged with hiding revenue worthRs46,000crore

NEW DELHI/KOLKATA: The national auditor alleged that six telecom operators — Bharti Airtel ,
Vodafone India, Idea Cellular, Reliance Communications, Tata Teleservices and Aircel — had collectively understated gross revenue amounting to Rs 46,045.75 crore between 2006-07 and 2009-10, causing a loss of Rs 12,488.93 crore to the national exchequer.
. . The companies rejected the accusation.
.
. This, in turn, has prompted the government to initiate a special audit for three years to FY11, with telecom minister Ravi Shankar Prasad calling it "a legacy issue of the previous government" that he is "trying to clean up". It may be recalled that one of the scandals that led to the defeat of the United Progressive Alliance government stemmed from a report by the Comptroller & Auditor General of India (CAG) into spectrum allotments.
. .
"I've taken a serious note of it. Though the CAG report will go to the Public Accounts Committee (PAC), whose recommendations will be final after approval by the House, the telecom department (DoT) will take a special audit for three years (2008-09, 2009-10, 2010-11) to discover if any outstanding dues are required to be paid by telcos," Prasad said.

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