A loss of Rs 58 crore has been incurred by the Airports Authority of India (AAI), as Delhi airport operator DIAL failed to include utilisation of customs duty scrip as income, government auditor CAG has found.
The Comptroller and Auditor's General (CAG) said Delhi International Airport Limited (DIAL) had utilised Rs 91.38 crore worth of Custom duty scrip (CDS) for the financial year 2011-12 as income and not shared revenue earned on account of electricity charges. However, it did not account for it while measuring the value of fixed assets, it said in a report tabled in Parliament.
"This deprived of the AAI from getting 45.99 per cent share (according to operation, maintenance and development agreement between AAI and DIAL) of the above revenue, which worked out to Rs 42.23 crore (45.99 per cent of Rs 91.83 crore)," the CAG said, adding AAI also sustained a loss of Rs 9.84 crore (up to January 2013) towards interest on the above amount. It said DIAL's statutory auditors also pointed out the airport operator should have recorded the CDS amount for payment of duty on imports as income for the financial years ending on March 2011 and March 2012.
10/08/13 PTI/Business Standard
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The Comptroller and Auditor's General (CAG) said Delhi International Airport Limited (DIAL) had utilised Rs 91.38 crore worth of Custom duty scrip (CDS) for the financial year 2011-12 as income and not shared revenue earned on account of electricity charges. However, it did not account for it while measuring the value of fixed assets, it said in a report tabled in Parliament.
"This deprived of the AAI from getting 45.99 per cent share (according to operation, maintenance and development agreement between AAI and DIAL) of the above revenue, which worked out to Rs 42.23 crore (45.99 per cent of Rs 91.83 crore)," the CAG said, adding AAI also sustained a loss of Rs 9.84 crore (up to January 2013) towards interest on the above amount. It said DIAL's statutory auditors also pointed out the airport operator should have recorded the CDS amount for payment of duty on imports as income for the financial years ending on March 2011 and March 2012.
10/08/13 PTI/Business Standard
