DoT amends telecom licenses due to change in FDI compliance report
Telecom licensees now don’t need to submit FDI compliance report on 1st July of every year.
The Department of Telecommunications (DoT) recently amended various telecom license agreements due to change in FDI compliance report. The amended license agreements include UL (VNO), Unified license, UAS license, MNP license, Commercial VSAT CUG license, Captive VSAT CUG license, INSAT MSS-R Service license, ‘suis-generis’ category license, NLD license (other than UL), and ILD license (other than UL).
As per the existing clause, telecom licensees had to submit compliance report regarding compliance of FDI norms and security conditions on 1st day of January and 1st day of July of every year. The amended clause mandates telecom licensees to submit compliance report regarding compliance of FDI norms and security conditions on 1st day of January of every year.
They also have to submit the FDI compliance report within 15 days when there is a change in the FDI in the licensee’s company.
Similarly, licensees had to earlier declare paid-up capital and submit compliance report on 1st day of January and 1st day of July of every year. This has now been amended to declaration of paid-up capital and submission of compliance report on 1st day of January of every year.
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