Sale of MTNL’s 21 land assets stalled as DoT refuses to give up funds

As per industry sources, the sale of Mahanagar Telephone Nigam Limited’s (MTNL) 21 land assets has been stalled as the Department of Telecommunications (DoT) is unwilling to part with the funds garnered, as mandated by the Delhi Development Authority (DDA).

As per the mandate, the DoT has to give 50 per cent amount from the asset sale to the DDA. Then, there would be a capital gains tax, spectrum usage charges, and licence fee after which the DoT feels it would be left with virtually nothing.

However, the DoT is currently negotiating with the DDA for some relaxation.