You are here: Home » Companies » News
Business Standard

Jio, Tata Tele among firms that understated revenues by Rs 14,000 cr: CAG

The report said that the five companies are Tata Teleservices, Telenor, Videocon Telecom, Qaudrant (a Videocon group firm) and Reliance Jio

Press Trust of India  |  New Delhi 

Reliance jio

Tata Teleservices, and are among five telecom firms which have understated revenues by over Rs 14,800 crore, resulting in a short fall of nearly Rs 2,578 crore to the exchequer, the CAG said on Tuesday.

As per the report of of India (CAG) tabled in Parliament, government was paid Rs 1,015.17 crore less in licence fee, Rs 511.53 crore in spectrum usage charge, and Rs 1,052.13 crore as interest applicable on delay in payment.

It said the five are Tata Teleservices, Telenor, Telecom, Qaudrant (a group firm) and

The government collection from is short of Rs 1,893.6 crore, - Rs 603.75 crore, Videocon - Rs 48.08 crore, Quadrant - Rs 26.62 crore and Jio - Rs 6.78 crore for licence fee, SUC and applicable interest charges.

CAG said: "To sum up the verification of records of five PSPs (private sector players) by audit indicated total understatement of AGR (adjusted gross revenue) of Rs 14,813.97 crore for the period up to 2014-15 and consequent short payment of revenue share on Government of India to the tune of Rs 1,526.7 crore."

It added that interest due on the short paid revenue share for the period up to March 2016 was Rs 1,052.13 crore.

The CAG findings are based on the audit of and (Maharashtra) Ltd from 2010-11 to 2014-15; Quadrant Televentures (2006-07 to 2014- 15); Videocon Telecom (2009-10 to 2014-15); (2009-10 to 2014-15) and Infocomm from 2012-13 to 2014-15.

First Published: Tue, December 19 2017. 17:44 IST
RECOMMENDED FOR YOU