The Comptroller and Auditor-General (CAG) has flagged several instances of possible revenue loss to the government in the joint ventures running the airports in Mumbai and Delhi, even as it has been awaiting access to the account books of the two companies for over seven months, show documents accessed by The Hindu.
Based on a limited audit of the books of the Airports Authority of India (AAI), which holds a 26 per cent stake in both the JVs, the CAG has pointed out significant financial losses suffered by the authority because of various anomalies in the implementation of JVs. The federal auditor was entrusted by the AAI on July 29, 2015, with the task of examining if it was receiving a fair share of revenue from DIAL (Delhi International Airport Ltd.) and MIAL (Mumbai International Airport Ltd.).
The CAG was to be allowed access to records of DIAL/MIAL under provisions in Clause 11.3 of the Operation, Management and Development Agreement (OMDA).
07/03/16 Josy Joseph/The Hindu
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Based on a limited audit of the books of the Airports Authority of India (AAI), which holds a 26 per cent stake in both the JVs, the CAG has pointed out significant financial losses suffered by the authority because of various anomalies in the implementation of JVs. The federal auditor was entrusted by the AAI on July 29, 2015, with the task of examining if it was receiving a fair share of revenue from DIAL (Delhi International Airport Ltd.) and MIAL (Mumbai International Airport Ltd.).
The CAG was to be allowed access to records of DIAL/MIAL under provisions in Clause 11.3 of the Operation, Management and Development Agreement (OMDA).
07/03/16 Josy Joseph/The Hindu
