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Reliance Jio, others understated revenue by 148B Indian rupees, says watchdog

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Reliance Jio, others understated revenue by 148B Indian rupees, says watchdog

Tata Teleservices (Maharashtra) Ltd, Reliance Jio Infocomm and three other companies were pulled up by India's accounting watchdog for allegedly understating their revenue by more than 148 billion Indian rupees, resulting in a shortfall of nearly 25.78 billion rupees to the exchequer, The Economic Times (India) reported.

The other companies were Telenor ASA's India unit, Videocon Telecommunications Ltd, and Videocon group affiliate Quadrant.

The report by the Comptroller and Auditor General of India tabled in the parliament said the government was paid 10.15 billion rupees less in license fee, 5.12 billion rupees less in spectrum usage charge, and 10.52 billion rupees less in interest applicable on delay in payment, according to the report.