CAG Report: Tata Communications Limited hid its earnings, the government felt the loss of so much money

Posted on 9th Aug 2022 02:23 pm by rohit kumar

The Comptroller and Auditor General (CAG) of India, in a report released on Monday, claimed that a company of the country's trusted Tata Group underreported its gross revenue between 2006-07 and 2017-18, During the period, he had to pay less by about Rs 645 crore towards license fee and the government lost this amount of money.

 

 

The name of the Tata Group company on which the CAG has made these allegations is Tata Communications Limited. The CAG has said in its report that this amount should be recovered from TCL.

The CAG has observed that an audit of the Profit and Loss Statement and Balance Sheet of TCL during the period 2006-07 to 2017-18 reveals that the gross revenue of the company during this period was Rs.13252.81 crore.

 

Due to this the company had to pay Rs 950.25 crore as a levy but paid less than the company. According to the CAG report, the DoT received only Rs 305.25 crore as a license fee from the company.

 

The report said that the license fee sought by DoT from TCL was Rs 645 crore less than what it should have asked for. According to the CAG, this amount should be recovered from Tata.

 

Also Read: Jyotiraditya Scindia: 'By 2027 there will be 1200 passenger planes in India, the number of passengers will cross 400 million

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