News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 9 years ago
Rediff.com  » Business » Telecom cos under lens for under-reporting revenues of Rs 10K cr

Telecom cos under lens for under-reporting revenues of Rs 10K cr

Source: PTI
December 12, 2014 15:29 IST
Get Rediff News in your Inbox:

The government has served showcause notices to various telecom firms for alleged under-reporting of revenues of over Rs 10,800 crore till November 2012, Lok Sabha was informed on Friday.

"We have served notices for claims of Rs 10,826.69 crore (Rs 108.26 billion) to different telecom companies for under-reporting of revenues till November 2012," Finance Minister Arun Jaitley said during Question Hour.

He, however, said most of the companies have approached the Telecom Disputes Settlement Appellate Tribunal and various courts against the government notices for claims of under-reporting and the tribunal and courts gave stay orders.

The Finance Minister refuted the claims by AAP member Bhagwant Mann that no case of under-reporting of revenue was registered by the government saying it was the Department of Telecom which dealt with such cases and not the Securities Exchange Board of India.

Many cases of under-reporting of revenues were registered by the DoT, he said. 

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 

Moneywiz Live!