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Clinton to address IIT alumni meet
Former US President Bill Clinton will address over 3,000 alumni of the Indian Institute of Technology at a global conference here in October.

ICICI, Citi among 17 in race to manage NMDC issue
ICICI Securities, Citigroup and Morgan Stanley along with 14 other merchant bankers have submitted bids to manage the estimated Rs 14,000-crore disinvestment of the state-run iron ore producer NMDC.

News of the day

Airtel slashes roaming rates by 60%
Mobile services provider, Bharti Airtel, reduced its roaming rates by nearly 60 per cent. Customers who enroll into the Airtel Turbo plan will now be charged at 60 paise per minute for all incoming calls while on roaming. The new plan is available for both existing and new customers effective Friday.
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DoT gives Bharti a week to comply with audit queries

As part of its special audit on selected companies, the Department of Telecommunications (DoT) has told Bharti Airtel to provide all required information to the auditor by December 14. - F&O Outlook: Nifty has strong support below 5,000 - Sensex ends two-day losing streak, up 240 pts - 3G auctions run into fresh storm - Nifty has strong support below 5,000 - Bharti unit launches multiple SIM technology - 3G auction may be delayed over uncertainty of spectrum slots Contractor, Nayak & Kishnadwala, the auditor, had sought the information through two questionnaires on August 12 and September 12. The firm had asked for pending details and other information in October and November, but none of the queries had been answered. “Despite considerable time, complete information has not been provided for any of the requisitions till date…furnish the required information to the auditor within seven days from the receipt of this letter,” the department said in a letter dated December 7. Bharti declined comment. In April, DoT had ordered a special audit on five companies — Bharti Airtel, Vodafone-Essar, Tata Teleservices, Idea Cellular and Reliance Communication — to check alleged mis-reporting of revenue to evade taxes and licence fee. The audit report of Reliance Communications had already been given to DoT. The government had yesterday said RCom had caused losses of around Rs 250 crore to the exchequer by under-reporting revenues and DoT was examining the issue. However, this charge has been denied by the company. DoT has also written to all four special auditors, saying considerable time has elapsed since the original deadline. It has told the auditors the report should contain a statement on recovery of dues, wherein the demand by the department may have to be raised on the companies concerned. It also asked them to specify a tentative timeline for their reports. DoT officials said the department had also sent letters to the other three operators, Vodafone, Idea and Tata Teleservices, asking them to share the information with their auditors on time.


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