Even as the special auditor appointed by the DoT to review the accounting books of Tata Teleservices (TTSL) has alleged discrepancies in the accounting practices adopted by TTSL for fiscal years 2006-07 and 2007-08, the company today claimed that the audit in fact gives a clean chit and provides testimony to the fact that the company follows all regulatory compliance.
Reacting to a TelecomTiger report on the special auditor’s findings, Madhav Joshi, Head, Legal and Regulatory Affairs, Tata Teleservices Limited said, “We are pleased with the quick turnaround and transparency of the audit conducted by the Special Auditors appointed by the Department of Telecommunications, which highlights Tata Teleservices Limited’s commitment to regulatory compliance and underscores the high standards of Corporate Governance followed by the Company. As a Tata Group company, TTSL has always followed all rules and regulations of the land, and we are delighted with the Special Auditors’ validation that all payments and dues, including License Fees and Spectrum charges, have been paid by TTSL, as per the license conditions and the applicable ruling of the TDSAT.”
The company spokesperson added, “What is noteworthy is that even in the case of some issues that are awaiting determination by the Hon’ble Supreme Court, Tata Teleservices Limited has paid monies to the DoT, in order to ensure complete accounting compliance with the authorities.”
He said that the company is paying licence fee and all dues to DoT in compliance with the rulings of TDSAT.