The accounts of Reliance Communications, one of India’s biggest companies, have been questioned by a government-commissioned audit, which alleges that the group under-reported its revenue to the government and paid too little in licence and spectrum fees.
The auditor, Parakh and Co, was asked by the government to examine a “gap” between revenue from wireless services that Reliance, the country’s second- largest mobile operator, reported to investors in the financial year ending March 2008 compared with wireless revenue reported to the government.
