Mumbai: Anil Ambani group firm Reliance
Communications Sunday debunked the special audit report and
said it has neither inflated revenues nor evaded licence fees
to be paid to the government.
"RCom strongly affirms that it anticipates no additional
financial liability towards licence or spectrum fee. The
Special Auditor's report estimating alleged additional
liability of Rs 316 crore is incorrect, hopelessly biased,
one-sided and prejudiced," RCom said.
The company has made due disclosures and is fully
complaint with listing agreements entered with the Bombay
Stock Exchange and the National Stock Exchange and all SEBI
disclosure guidelines, the company said in a statement.
The Special Auditor's report is in fact in conflict with
industry practice and judgements of telecom tribunal (TDSAT)
and Customs Excise and Service Tax Appalette Tribunal (CESTAT)
on several issues, it said.
The Special Auditor appointed by the Department of
Telecom has alleged that RCom inflated revenues by over Rs
2,900 crore while under reported the same to TRAI for evading
licencing fees of an estimated over Rs 300 crore.
The Special Auditor's report is also liable to be
rejected outright, as, contrary to all norms of audit and
professional conduct, they did not discuss their findings and
observations with the company at any stage.
Bureau Report
First Published: Sunday, October 25, 2009, 17:45