| MUMBAI:
Pan India Network Infravest Private Limited (an Essel Group company) has sought
to surrender its five licenses for phase II of FM radio. The other three licenses
were returned in 2008 itself. Although
the Subhash Chandra led Essel Group had acquired eight frequencies by bidding
in Phase-II in 2006, none of the stations went full fledged live on air. According
to an Information and Broadcast notification to the Essel Group on 15 May 2009,
the group has been asked to furnish the requisite information before its 'request
for acceptance for termination notice'is considered. Mentioned as Z-FM on the
I&B website, the Essel stations were to be run in Allahabad, Amritsar, Agra,
Patiala and Varanasi. Essel Group had returned their licenses in Jalgaon, Akola
and Nanded to the Information and Broadcasting Ministry in May 2008 as the group
believed that the business in Maharashtra was not feasible with only those three
stations, say sources....(Click
here to read more) | 
