Under the public-partnership agreement, DIAL has to share 45.99% of its revenue with AAI every year, while MIAL shares 38.7%.
National airports operator AAI has sought documents from its joint venture partners --GMR and GVK -- for a CAG audit of the books of accounts of the Delhi and Mumbai airports.
Airports Authority of India (AAI) which holds 26% stake each in the two joint venture companies --DIAL and MIAL -- has invoked its right under a particular clause of the Operations, Management and Development Agreement (OMDA) while asking the public accounts watchdog Comptroller and Auditor General of India (CAG) to audit the books of accounts of the two companies.
"AAI has appointed CAG as its representative to scrutinise the books of accounts of Delhi International Airport (DIAL) and Mumbai International Airport Limited (MIAL) to ensure that due government share is accruing to AAI," Minister of State for Civil Aviation Mahesh Sharma said in a written reply in Lok Sabha.
While DIAL is a 74:26 JV between AAI and a GMR-led consortium, MIAL is a 74:26 JV between AAI and GVK-led consortium. The AAI ceded control of both Delhi and Mumbai airports to DIAL and MIAL under a public-private partnership agreement in 2006.
Under the public-partnership agreement, DIAL has to share 45.99% of its revenue with AAI every year, while MIAL shares 38.7%.
"DIAL and MIAL have expressed their reservation that the right of CAG to conduct audit are limited to the accounts of the Union and the State and of any other authority or body as may be prescribed by or under any law and so they can't carry on revenue audit of DIAL and MIAL," the Minister said.
However, AAI has stated that it is the auditee and audit is being made of AAI account, he said. "The CAG in course of audit requires to understand and verify all the revenue stream of AAI, which includes the stream of revenue from DIAL and MIAL and accordingly, requires the presentation of all the records related to the accrual of revenue from different source at Delhi and Mumbai Airports. So, AAI has written to DIAL/MIAL to provide requisite documents required by it and CAG to complete the audit including revenue generated from joint venture companies," the Minister said.
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