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BUSINESS

TCL Reports of Revenue Led to Loss of Rs 645 Crore fee

Digital Platforms and Services of Tata Communication delivered robust growth of 16.5 per cent YoY.

Today, the gross revenue of Tata Communication Ltd (TCL) led to Rs 645 crore, which is less than to levy of licence fees during the period 2006-07 to 2017-18, as per the Comptroller and Auditor General of India (CAG). The amount which needs to be recovered from Tata Communication Ltd.

“Audit scrutiny of Audited AGR Statements concerning 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 (licence fee) of Rs 950.25 crore,” it said.

According to the CAG report, the telecom department only levied Rs 305.25 crore as an LF. The estimated revenue for the delay in allocation of the E and V band spectrum is “only an indicative figure, and the expected actual revenue could be higher”.

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