An Indian government-commissioned audit has questioned the accounts of one of
the country’s biggest companies.
Audit firm Parakh & Co found the revenues of Reliance Communications were
under-reported, leading it pay too little in licence and spectrum fees, reported
The firm looked at a “gap” between its revenues reported in March 2008,
compared to the numbers reported to the government.
Reliance denied any irregularity or discrepancy in its accounts, saying the
auditors’ comments were biased and “instigated by corporate rivals”.
Other audits are planned by the government on other large mobile operators.
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