Former Director General of Comptroller and Auditor General R P Singh has questioned the CAG's estimates of presumptive loss of 1.76 lakh crore rupees to the exchequer on account of allocation of 2G spectrum in 2008.

Speaking to a private news channel, Mr Singh said after completing the audit of Ministry of Telecom, which was under his direct charge, he prepared a draft audit report covering each and every aspect.

Mr Singh said his report did not contain any loss figure. Mr Singh said that his report mentioned that Rs 37,000 crore can be recovered from those holding excess spectrum.

The CAG report, which was tabled in Parliament in November 2010, had pegged the revenue loss to the exchequer on account of allocation of 2G spectrum in 2008 at whooping 1.76 lakh crore rupees raised a political storm.

It led to sacking of Telecommunications Minister A Raja and setting up of a Joint Parliamentary Committee (JPC) to probe the issue.

The controversy over 2G spectrum allocation also led to cancellation to 122 licences by the Supreme Court. Our correspondent reports, the issue took a different turn when the recently concluded auction of 2G spectrum evoked lukewarm response.

Several central ministers including Finance Minister P Chidambaram and Telecommunications Minister Kapil Sibal had described the CAG's loss estimate of 1.76 lakh crore rupees as mythical.