State-run BSNL had to reconcile Rs 10,000 crore to set the asset accounts right since its incorporation eight years ago after the government hived off the services wing from the telecom ninistry.
The discrepancy in accounts had crept in due to asset valuation by consultant AF Ferguson at Rs 65,000 crore whereas the government transferred assets valued at Rs 10,000 crore more.
Clarifying that there was no concealment of Rs 10,000 crore, BSNL Director (Finance) S D Saxena attributed the error to a printing mistake in the book and set the record straight by saying "it is in fact reconciliation". Saxena said the book is being printed again.
In present form, the book says: "The biggest challenge was to create an asset register of the company. A F Ferguson & Company, the appointed consultant for the corporatisation process at BSNL, estimated the total assets transferred to BSNL amounted to about Rs 65,000 crore."
Saxena, who retires this month-end, has played a key role in the transition of BSNL from a 145-year-old government department to a corporate body.
