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MSO's net worth should be positive for registration: Govt.

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NEW DELHI: An inter-ministerial committee (IMC) of the government, grappling with the issue of differentiating between serious and non-serious players, has recommended that net worth of an MSO must be positive for grant of registration, but shied away from stipulating a minimum monetary ceiling.

The IMC, which met earlier this month, came to the conclusion after feedback from various other ministries, including finance, information and broadcasting and commerce, that in case an existing registered MSO applied for registration for additional areas, the net worth of the company must be positive for those areas too for a green signal from the government.

For an expenditure of about 25 lakh (Rs. 25,00,000) by a company to establish an MSO business, a loan can be availed of by a new applicant through banks, the IMC said.

Justifying its stand on the MSO company’s net worth being positive, IMC said it should be so as the government was providing loans without collaterals to small entrepreneurs for starting a business. “Hence the net worth of the entity applying for MSO registration has to be positive,” the government panel observed.

For the purposes of net worth evaluation, IMC reiterated that immovable/movable assets, generally included in the net worth certificates submitted by the applicants, could continue to be taken into account as per previous practice.

The panel took into consideration, among other issues, whether for registration purpose an entry level threshold net worth be specified and whether an MSO, already registered for certain areas, may be considered as eligible for registration in extended areas if its net worth was presently negative.

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