Regulators

Mock auctions extended by a day to accommodate Sun Group FM bidders

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NEW DELHI: Even as the e-auction for the first batch of bidders for FM Phase III is to commence on 27 July, the Government held three rounds of mock auctions instead of the originally announced two.

The mock auctions while earlier were slated for 22 and 23 July, were extended by one more day to 24 July.

Information and Broadcasting (I&B) Ministry sources told Indiantelevision.com that the mock exercise had been extended in the light of the Delhi High Court order of 22 July with regard to Red FM for taking part in the auctions and the Madras High Court order of 23 July with regard to Kal Radio-run Suryan FM to take part in the e-auctions.

C1 India Pvt. Ltd is serving as the e-auctioneer and auction adviser to the I&B Ministry, who arranged the training of pre-qualified bidders for the first batch of private FM radio Phase III on 17 July, 2015. The training was held in two batches on the same day, at National Media Centre in New Delhi.

A total of 28 applicants had applied for the e-auction of 135 private FM radio channels for the first batch of the Phase III expansion plan. The 28 applicants had cumulatively submitted Rs 316.91 crore as earnest money deposit by 27 March, 2015, which was the deadline for the application process.

Meanwhile the petition related to participation Red FM in the FM Phase III auction will be heard by the Supreme Court on 25 July. 

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