The telecom committee looking into the issue of the need for a lockin period for promoters’ equity has reportedly recommended against a lock-in of promoters’ equity, stating that this will hamper growth and competition in the sector.

The telecom committee looking into the issue of the need for a lockin period for promoters’ equity has reportedly recommended against a lock-in of promoters’ equity, stating that this will hamper growth and competition in the sector. According to the committee, raising funds in the current economic climate is a challenge and there is a need for valuable foreign investments. The issue of a lock-in period came up as some of the new telecom players had inducted partners to garner funds for rolling out networks across the country.