The Department of Telecommunications (DoT) is likely to grant a national long distance (NLD) licence to Sistema Shyam TeleServices Limited (SSTL), say news reports.
According to a DoT note, “The proposal may be considered and entails a processing fee of Rs 15,000.?
The company has fulfilled almost all the criteria required for holding an NLD licence.
The company has submitted a certified copy of the memorandum of article of association (MAA) and it has also submitted a copy of its paid up capital as of March 21, 2011.
Meanwhile, SSTL has stated that it has 26.05 per cent Indian equity and 73.95 per cent foreign equity. The foreign equity of the applicant conforms to the 74 per cent ceiling for which they have acquired FIPB approval.
The company has also submitted a business plan that highlights its funding arrangements, as required under NLD guidelines.
With this, DoT has said that a letter of intent can be issued to the company for an NLD licence.
