Business Daily from THE HINDU group of publications
Thursday, Nov 30, 2006
ePaper
Business Daily from THE HINDU group of publications Thursday, Nov 30, 2006 ePaper |
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Info-Tech
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Telecommunications Industry & Economy - Foreign Direct Investment British Tele application `deficient' Thomas K. Thomas
The company has applied under the name of BT Telecom India Pvt Ltd when the Foreign Investment Promotion Board had the given the clearance to BT Global Communication.
New Delhi , Nov. 29 The Department of Telecom has sought a number of clarifications from BT (formerly British Telecom) on its application for long distance telephony licence including as to why the company has applied under the name of BT Telecom India Pvt Ltd when the Foreign Investment Promotion Board had the given the clearance to BT Global Communication. The DoT has told the company that though BT Global Communication holds 74 per cent in BT India, the FIPB approval should be in the name of the applicant company. In a letter to BT sent on November 24, the DoT has said that the application was incomplete since it had not submitted a number of documents including the agreement papers between BT and its Indian partner Jubilant.
Seeks details
The DoT has also sought details of licences held by BT or its associate/ sister companies in India. BT has also been asked to clarify whether the top management of BT India were resident Indians or not. BT had apparently only mentioned that the officials are Indians without clarifying whether they were NRIs or residents. Shareholders agreement has also not been given to the DoT. DoT officials said that BT had not submitted its detailed roll-out plan which was mandatory. The company has also not given specimen signature of the authorised signatory for BT. DoT officials, however, said that the clarifications sought were routine in nature. BT has been asked to submit the details at the earliest.
Related Stories: More Stories on : Telecommunications | Foreign Direct Investment | Regulatory Bodies & Rulings
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