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Bharti audit report submitted to DoT

Bharti audit report submitted to DoT
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First Published: Thu, Mar 11 2010. 12 50 AM IST
Updated: Thu, Mar 11 2010. 12 50 AM IST
New Delhi: The auditor appointed by the department of telecommunications (DoT) to examine the books of India’s largest telecom service provider Bharti Airtel Ltd has submitted its report to the government, a DoT official said on condition of anonymity.
“We will examine the auditor’s report and then decide on any further action,” he said.
Bharti’s spokesperson couldn’t be reached for comment.
DoT ordered audits on telecom operators Bharti Airtel, Vodafone Essar Ltd, Idea Cellular Ltd and Tata Teleservices Ltd after the Telecom Regulatory Authority of India (Trai) recommended the move.
The remaining audits are expected by next week, barring Tata Teleservices, as the auditor which was first chosen was changed after it was found that it had an existing relationship with the group.
Trai said the accounts should be audited every three-five years after discrepancies in numbers reported by Reliance Communications Ltd (RCom), India’s second largest telecom firm, that were uncovered by brokerage firms Kotak Securities Ltd and UBS AG in mid-2008.
DoT ordered a special audit of RCom, which was subsequently widened to cover its rivals as well.
The auditors were selected from a list of CAG (Comptroller and Auditor General of India) empanelled firms. Mumbai-based Contractor, Nayak and Kishnadwala was selected to audit Bharti, Mumbai-based Chhajed and Doshi is auditing Idea Cellular, Delhi-based SK Mehta and Co. is auditing Vodafone while the books of Tata Teleservices are being examined by Delhi-based SK Mittal and Co.
Trai’s financial analysis wing has been studying the trends in gross revenue and adjusted gross revenue declared by various telecom operators under different licences.
‘PTI’ contributed to this story.
shauvik.g@livemint.com
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First Published: Thu, Mar 11 2010. 12 50 AM IST