Government clears 85 companies for FM radio bid; 15 left out

NEW DELHI: In the government's third and final list of companies cleared for making financial bids for FM radio licences in 91 cities, there is just one name. 

This means that out of the 100 companies that had participated, only 85 have been found suitable by the government for making financial bids.

In addition to 84 companies, mentioned in the first and second list, the name of Kolkata-based New Mount Trading and Investment Company Ltd, which had submitted pre-qualification bids, has been cleared.

However, the government has said that it reserves the right to disqualify New Mount Trading at any time, either suo motu or on receipt of a complaint, if it is revealed that it “acted contrary” to the information supplied to the information and broadcasting ministry.

Clarification on a tie for a licence

In a statement, the I&B ministry has said that in the event of a tie between two or more bidders for the last available channel in a particular city, the successful bidder shall be decided through a draw of lots between the tied bidders.

The unsuccessful bidders, after such a draw of lots, shall be placed in the waiting list in the descending order of their bids.

Also read:

Full list of companies that have evinced interest in applying for FM licences

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