Tata Comm gross revenue under-reporting led to Rs 645 crore lower govt fee collection: CAG

Tata Communications NSE -0.55 % under-reported gross revenue between 2006-07 to 2017-18 which led to Rs 645 crore lower levy of licence fee during the period, the Comptroller and Auditor General of India (CAG) said in a report on Monday. The CAG, in the report, also said the amount needs to be recovered from Tata Communications Ltd NSE -0.55 % (TCL).

“Audit scrutiny of Audited AGR Statements with reference to Profit & Loss Statements and Balance Sheets in respect of NLD, ILD and ISP-IT licenses of TCL for the period from 2006- 07 to 2017-18 revealed that there was an under reporting of Gross Revenue (GR) by Rs 13,252.81 crore and consequent short levy of LF of Rs 950.25 crore,” it said.