Special audit to verify Telgi toll on exchequer

On the orders of the Comptroller and Auditor General (CAG), Maharashtra’s Principal Accountant General has begun an inquiry to verify t...

On the orders of the Comptroller and Auditor General (CAG), Maharashtra’s Principal Accountant General has begun an inquiry to verify the extent of revenue loss due to the fake stamp scam. A parallel probe will be conducted in all the other states to calculate the total loss to the exchequer.

The Maharashtra government had not asked for an audit to ascertain the loss of revenue due to the scam even though such a decision would have been within its powers. While the state has roughly pegged the losses at Rs 150 crore, the revenue minister has said ‘‘assessment’’ could change if the government received feedback from private companies and individuals who have used fake stamp papers.

Principal Accountant General (PAG) K.S. Menon said the PAGs of all states have now been asked by CAG to complete the inquiry in a time-bound period. ‘‘We had a series of meetings with Karnataka PAG and senior officials from the CAG office,’’ Menon told The Indian Express.

Story continues below this ad

While investigating agencies probe the criminal-police-political nexus in the scam, Comptroller and Auditor General V.N. Kaul has sought a report which will help finalise a set of recommendations for introducing reforms in the stamp manufacturing and distribution system.

In Maharashtra, a cursory study has pegged the revenue loss due to the scam at approximately Rs 125 crore. Earlier, Union Finance Minister Jaswant Singh had informed Parliament that the total revenue loss across the country was to the extent of Rs 3,326 crore.

As per records maintained by the Inspector General of Registration in Maharashtra, there was no drastic reduction in revenue collection from sale of stamps and stamp papers during the period when the scam was in operation, said Menon.

But, it appears that several transactions, which were probably made on fake stamp papers were not registered at all, he added. As a result, these were not on the record of the Revenue Department. ‘‘We will have to conduct an in-depth survey and inquire into all transactions in Mumbai and elsewhere to ascertain the exact loss of revenue,’’ Menon said.

Story continues below this ad

A month ago, the PAG had received a communication from the chief of the SIT probing the scam, calling for a special inquiry into the records of the Revenue Department, particularly the sale of stamps and stamp papers. S.S. Puri’s letter said the PAG’s office should conduct a special audit of the Inspector General of Stamp and Registration Office at the earliest. But since this fell under the purview of the CAG, it could not be done.

Now that Kaul has ordered a special audit of transactions in all the states irrespective of whether they were affected by the Telgi scam, Menon said: ‘‘We will take note of the points raised by Puri.’’

SC on Waqf Act: Stay on clause that creator has to be practising Islam for 5 yrs

India2 hr ago

The Supreme Court on Monday refused to stay the Waqf (Amendment) Act, 2025, provision requiring registration of Waqf by user, but paused the clause that states a person must be a practitioner of Islam for five years to create a Waqf until state governments frame relevant rules.

View all shorts

Live Blog