Popular Articles

cheap cigarettes
India's climate change stand invited criticism in 2009
Challenges posed by climate change hit centrestage in 2009 which saw the government doing a flip-flop ahead of the crucial Copenhagen summit even as the Opposition and experts alleged that India succumbed to pressure from rich nations on emission cuts.

Markets remain weak
The Sensex is quoting at 16757, lower by 102 points, and the Nifty is at 4996, down 39 points.

News of the day

payday loans online
Armed forces need modernisation: Antony
Taking charge as the defence minister for the second time, AK Antony on Monday laid out the roadmap for India’s armed forces — modernisation and transparency. Antony’s very first day in office was marked by India receiving the state-of-the-art AWACS (Airborne Warning and Control System) platform from Israel. The Indian Air Force (IAF) is slated to get two more AWACS platforms, which is miles ahead of ground-based radars in detecting incoming missiles, enemy aircraft and monitor troop movement.
Home Business

Govt to prosecute RCom for reporting less revenue

The government today said in the Lok Sabha that a special audit has observed that Reliance Communication and its other subsidiaries under reported revenues during 2006-07 and 2007-08. - Govt earns Rs 8,308 cr from mobile companies - DoT moves SC againt HC order on 2G licence cut-off date - Wkly Tech Analysis: Weakness seen in first half - 3G auction shortly: PM - Passing the buck - Making banking mobile There was an under reporting of Rs 1,000 crore to Rs 1,500 crore by the telecom firms, to avoid payment of licence fee, and the government may have lost about Rs 250 crore due to this, Telecom Minister A Raja said during Question Hour. The Department of Telecom (DoT) had appointed special auditors to look into financial accounts of five leading telecom companies for allegedly indulging in fudging of accounts and under-reporting of revenue to the telecom regulator TRAI during 2006-07 and 2007-08 to avoid payment of licence fee. Out of five auditors the one for RCom has submitted the report, the Minister said. "The auditor has observed that three companies -- RCom, Reliance Telecom and Reliance Communications Infrastructure Ltd (all belonging to Anil Ambani group) -- under reported their revenues to the TRAI during 2006-07 and 2007-08," the minister said. The observations are under examination of the DoT, he said adding whatever action is needed, it would be taken by the end of January next year. A committee, headed by Member (Finance), DoT is looking into the nearly 900-page report. Raja said the DoT shall raise additional demands including interest and penalty, as per licence terms, on the concerned licencees (RCom and others), after examination of special auditor"s report. Replying to a supplementary, Minister of State for Telecom Sachin Pilot said another case has been reported that a private internet service provider Tikona Private Limited was using wireless broadband even as the operator has not been assigned any spectrum. "This is being examined by the Wireless Planning and Coordination (WPC) wing of the Telecom Ministry," he added.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):