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The government has sought a special audit of Reliance Communications' (RCOM) accounts by the Comptroller and Auditor General (CAG) of India to ascertain whether the firm was underreporting revenues to avoid payment of licence fee.

January 15, 2009
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The government has sought a special audit of Reliance Communications' (RCOM) accounts by the Comptroller and Auditor General (CAG) of India to ascertain whether the firm was underreporting revenues to avoid payment of licence fee. Before bringing the CAG into the picture, DoT had sought TRAI's views on the subject in the wake of reports of investment broking firm Kotak Institutional Equities pointing to discrepancies in RCOM's reporting to stock exchanges and TRAI. Following the TRAI report, the licensing finance wing of DoT had recommended that the government invoke a special clause under which it could conduct an audit of the operator's books.

 
 
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