CAG Unearths Telco Scam of Rs 46,000 Crore, Is It yet Another 2G?
CAG report reveals six Telcos understated revenue of Rs 46,000 crore causing the exchequer a loss of Rs 12400 crore.
Six telecom companies are under the scanner of the Comptroller and Auditor-General (CAG) for under-invoicing their gross revenue to the tune of Rs 46,000 crore and thereby causing a loss of Rs 12,488 crore to the exchequer from 2006 to 2010 minus penalty.
These telecom companies are Reliance Communications, Tata Telecom, Vodafone, Airtel, Idea and Aircel. The Quint has accessed the details of the CAG report which reveals the loss to the exchequer caused by each company over the four-year period.
The report is likely to be tabled in Parliament on 11 March. The CAG has already submitted the report to Prime Minister Narendra Modi and Finance Minister Arun Jaitley.
In April 2014, the Supreme Court had empowered the CAG to audit the accounts of even private companies if they were dealing with natural resources.
The SC had said:
When the nation’s wealth, like spectrum, is being dealt with either by the union, state or its instruments or even private parties, like service providers, they are accountable to the people and Parliament.
According to CAG sources, the auditors slammed Department of Telecom officials for overlooking the glaring irregularities.
A thorough investigation should be ordered after the report is tabled in Parliament. Such irregularities cannot happen without the connivance of government officials.Senior Official, CAG
Senior advocate Prashant Bhushan said he will file a public interest litigation in the Supreme Court after the report is tabled in Parliament.
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