CAG audit quashed: Tata discom says accountable to DERC

The Delhi High Court Friday upheld a plea filed by the city's three power distribution companies (discoms) against letting the Comptroller and Auditor-General (CAG) audit their books.The court ruled that the federal auditor did not have the jurisdiction to conduct an audit on private companies.The CAG had been asked to conduct an audit by the Aam Aadmi Party government, which accused the discoms of inflating their costs and suppressing their revenues to increase pricing of electricity in the state.In an interview with CNBC-TV18, Praveer Sinha, MD and CEO of Tata Power Delhi Distribution Company, which operates one of the discoms, welcomed and verdict and said the company is already audited by the Delhi Electricity Regulatory Commission.“We are public service utility company and we work for benefit of consumers and are accountable to DERC according to the Electricity Act,” he said.Interview transcript to follow.