Baseless and Mala Fide, Says Anil Ambani

by CXOtoday Staff    Oct 15, 2009

Terming the Department of Telecom (DoT)-appointed auditor s allegations as baseless and mala fide, Reliance Communications (RCom) Chairman Anil Ambani today said it was done at the behest of a known corporate rival.

Ambani also clarified that the auditors have not discussed any findings with the company.

RCom will take up the conduct of the special auditor with the Institute of Chartered Accountants of India (ICAI), and would also lodge a formal complaint with Securities and Exchange Board of India (Sebi) over stock hammering, he said.

Reiterating that there wasn t any irregularity in its accounts which were audited by KPMG, he added that RCom is fully compliant with all Sebi disclosure guidelines and the Company s Act.

The chairman further stated that RCom has been regularly reporting results to DoT, Telecom Regulatory Authority of India and the stock exchanges.

DoT appointed auditors only in 2009 to check accounts for all telecom companies, he said.

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