New push for Ayers Rock Resort inquiry

Prime Minister Tony Abbott has been asked to launch an inquiry into the controversial acquisition of Ayers Rock Resort amid claims new information has come to light.

The Indigenous Land Corporation has written to Mr Abbott advising him it has new information to warrant an inquiry into the $300 million purchase made in 2010.

It alleges former directors breached their obligations by purchasing the resort despite being aware of financial risks.

Its board is also considering suing former directors to recover costs amid "major concerns" over the quality of the due diligence undertaken for the purchase.

"The problem is the ILC paid too much and we borrowed too much," CEO Michael Dillon told a Senate committee in Canberra on Friday.

The corporation has long been pushing for an investigation into the purchase and believes Finance Minister Mathias Cormann thought one was warranted earlier this year.

It accused Indigenous Affairs Minister Nigel Scullion of "countermanding" that decision and scuttling an inquiry.

The corporation this week sent a 38-page letter to Mr Abbott - bypassing Senator Scullion - advising him of the new information that it believed warranted an inquiry.

The letter outlines six alleged breaches of the law.

The resort runs at a profit, however $198 million in loans have to be repaid over the next two years forcing the corporation to refinance.

Because the resort is only valued at $225 million the corporation will have to inject around $30 to $35 million in new cash.

Senator Scullion denied he countermanded Senator Cormann's decision but did supply information to the minister.