The DoT has reportedly appointed Parekh & Co to scrutinise financial books of Reliance Communications (RCom) There were five firms short listed for the review of RCom’s books.
The move follows RCom coming under scanner due to alleged discrepancy in financial figures disclosure, It was pointed out that the company had provided a two different versions of its financial performance to Trai and to investors.
In the figures provided to Trai, RCom had passed on revenues earned from VAS as those earned from its internet business vertical. This move was perceived as a measure to benefit from lower renewal fee.
Even the CAG had come down heavily against the firm. The CAG went to the extent of even blaming some DoT officials to be hand in glove with the company.