Professional Documents
Culture Documents
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.subject: 14 Applications ofMI.il;. S,,;an Telecom Pvt. Ltd. for gr.ant of VASt in
Andhr}l Pradesh, 'Delhi, (;ujaral, H11ryana, J&K, Karnatal<a, Kerala,
Mahara.shtra, Mumbai, Punjab, Rajasthan, TamiJnadu, Uttar Pradc~h
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(East) & LIUar Pr.::JdesJI(West) service areas and 2 applications of Mis.
Cheetah Corporate.~ Sen-ices Pvt. Ltd. for grant of UAS Licences in
Assam & North-East service areas .
3. Further, Oll 2,3.07, two Jl)ore applications were filed by Mis. Swan Telecom .is
PVl. Ltd. for Assam & North-East service a~~as (19-20/c).J-lO\Vever,. yi.cI.e-J.e,l.~'f~j~I;.;
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daled 6.3.07. the company TeQl)ested for wIthdrawal of these two <lppJ1CCltJiJJlS ror"'~~~':,:,,_~»~1
Ass<lJll & North East service are..1s (22/c).
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File No.20-8212007-AS-J
Departmr.nt ofTelI'.cnmmunicatjons
(AS-J Sr.ction)
Subject:
'14 UASL Applications of MIs. Swan Telecom Pvt. Ltd. (Formeely
MIs S••an Capital Pvt. Ltd.) for grant of UAS Licenc" in Andbra
Pradesh, Gujarnt, Hu.ryaDR,Jammu & Kashmir, Kam8t:1.ka~ Kera'a,
Mab ••• sbtra, Punjab, Rajnsthan, Tamil Nadu, Uttar Pradcsb(East),
Uttar Pndesh(West), Delbi and Mumbai service areas." .,.
I. Mis. Swan Telecom Pvt. Ltd. (F.ormerly Mis Swan Capital Pvt. Ltd.) has
applied for grant of Unified Access Services Licence in Jammu & -Kashmir service
area. The APplication of Swan Capital Pvt. Ltd. in original is placed at lIC and
. i numbered from I-I/e to 1.55/C.
2. The company has applied in the prescribed format and has enclosed a
processing fee of Rs.15,OOO/-. The processing fee had been forwarded to Pay &0
Accounts Ofticer, HQ, DOT as per details .vailable at 56/C. Subsequently, on 1
February 20.07 the company has furnished further infonnation regarding compliance
"CsubStantial equity clause. On 2nd M.'ch 2007, tbe company further provided
supplementary information regard~ngliSshare holding pattern etc. which is placed at * .':
6(J-15/C. Again the company submitted a lener dated 6'" March 2007 informing --.!
change of name of the company along with copy of fresh certificate of incorporation
issued bv registrar of companies which is placed al 75.78/C.
jO'l~\1),..,.""
3 I The company has also submitted fresh appli"cations for 13 more service areas
on~a Febroarv-:lZ007 and two more service areas on 2"d March 2007. Thus. the total
number of applications for grant ofUAS License sub!J1ittedby the company is 16 i.e.
the company bas applied for 16 Service are.s namely Andhra, Pradesh, Assam,
GujaraL Haryana, Jammu & Kasljrnir, Karnataka, Kerala, Nortb East, Maharashtra,
Punjab. Rajastban, Tamil Nadll, Unar Pradesh(East), Uttar Pradesh(West), Delhi and
Jv!umbai service areas.
4. The processing fee for the above 13+2 applications were also sent to PAD vide
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liners at 79-86/C. Subsequently, on 611J March 2007 the company submitted a request
for withdrawal of twO applications against Assam and North East service areas 87- r)
Ui
92/C
5 Similar applications for other service areas have been submitted by the
company in the name of MIs. Swan Telecom Pvt. Ltd. vide their application dated
2.2.2007 and 2.3.2007. As mentioned above. the company has withdrawn rwo
applications against Assam and North East service areas. Thus. as on date there are ~
only 14 applications for grant of UASL in Andhra Pr~~~e~h,Gujara•• Haryana, Jammu
& Kashmir, Karnataka, Kerala, Mabarasiilra.-Piinj~b. RajaSthan, Tatiiil Nadu, Unar
Ii'"
Pradesh(East), Unar Pradesh(West), Delhi and Mumbai service areas. ti
h;/ ..,
6. For convenience only applications of Jammu & Kashmir service area and il'
Punjab service area is placed in this file. A preliminary check has been earned out by
Dir(V AS-II)/ ADG(VAS-I) lUld the repon date.d 06.11.07 submined oy them with
1
reference 10 the above applications for these ::;eryice areas is placed at 116/c of The
check list 1Splaced at 114-115/c.
7. As per the check list, the total Nctwoir\h required is Rs. 1030 CroTes and the ji
paidup equity capital required is Rs.l 0 crores.'/Accordingto the details mentioned in
the application of J&K, the paid up equity of the company is 3.03 crores (SIC), !I ~
however, as per the certificate enclosed at 38/C, the same is RS.3.29 croTes. The . ,
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certificate does 001 bear any date. It is further to mention that as per application for ! '
Punjab and other service areas, the paid up equity capital is Rs.ll 0 crores. The
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. certificate enclosed with the Punjab appl icitiO"i1 also does' not 'bear' :my date. As
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rcgards nerworth of the company is concerned, the same is Rs.30.96 crores as on
23.1.2007 according to the certificate of Chartered Account submittr.d with J&K
nd
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application, however, ihe same is RS.l JOO.28 crores as on 2 ~.~cb ..2007 according i
to certificate attached with applicarion for Punjab service area.--lt is to be mentionedl-~--/ -.;,"j
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AI) the pages of Memorandum & Aniele of Association are not certifidd
I as
ii
!rue copy by the Company Secretary.
The company has not indicated the names of its promoters.
Details of Indirect
Company Foreign Equity have not been submitted
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bY! the
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The comp.'!ny has
74%. not submitted Certificate that its composite FDI is w hin
v.
The Company has not submitted original Power of Attorney on Stl.m
p
Paper for signing the applications.
enclosed. However, B- scanned copy has ~een
Vi.
TIle company has infonned the names of its Directors and mentioned hat
tnev are Indian nationals, however, names of CEO, CTO, CFO and SO
has not been indicated stating tnat they M.e yet to be appointed and
v: whenever they will be appointed they will be Indian nationals. ~.
Copy of original power of attorney has not been enclosed with tne
application of J&K service area .. However, computer scanned cop of
power of attorney is enclosed for Punjab service area and . er
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applications. t'
Only the technical plan for GSM network has been submitted along ith
the application. However •. funding arrangement for financing .the proj, cts
has not been mentioned. I
Computer printed copy of form 32 has been submitted on 2nd March lb03
wherein [he copy of the form 32 has not been cenified to be true ~py. ~he
form 32 comains only name of Secretary and not the names of dlrecto'!' or
managing direct on. I
01H l)fthe (oral paid up share capital (Equity sha:-c and Preference shard) of
Rs t 10.00,20,000 of MIs. Swan Telecom Pvt. LId. Mis. Reliance Te/etom
L[d. holds equity share of Rs.lO ..~9..10,000 and Preference shard of
.Rs.99,20.000_ There by total paid up share capital held by MIs. RTI.
in
Mis - swan. T e.Jecom Pvt. Ltd. is of RS..1I.78.3.0,000 which is rnor~nan
10% of the total paid up share capital of the applicant company.
M/s. RCL already holds CMTS licenses in J 4 service areas, na Iy,
Andhra Pradesh, De/hi, Gujara~ Haryana, J&K, Kamataka, Kala,
Maharashtra Mumabi, Punjab, Rajasthan. Tami/nadu, Uttar Pradesh st)
& Utt;y:J'rade,h (West) service areas. i
M!s. RCDis 100% owned hy MIs. RCL (59/C). I
Mis. RCL already holds aCCess services licences in alllhe above 14
ice
se1
areas where Mis. Swan Telecom Pvt. Ltd. has applied for grant of licemtes.
Theretore. viewing the substantiaJ equity clause, substantial stake of niore
thao 10% of Mis RCL (through MIs. RTL) in Mis. Swan Telecom Pvt
~------
Ltd. violates Clause 8 ofUASL guidelines dated 11.]2.2005_
lOi wili be f"nher evaluated by Ihe committee. already approved by the Secretary T), I
Doh"" signing !he Liceocc Agreement :
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;..:~ .,' File No 2o-82/2007-AS-I
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I. 14 UASL application were received from Mis. Swan Telecom Pvt. Ltd.
(Fonnerly Mis Swan Capital Pvt. Ltd.) for Andhra Pradesh, Gujarat, Haryana, Jammu
& Kashmir, Karnataka, Kerala, Maharashtra, Punjab, Rajasthan, Tamil Nadu, Uttar
Pradesh(East), Uttar Pllldesh(West), Delhi and .Mumbai service areas. These
applications have been examined as per the check list at 114-115/c. Observations at
p::lIra 5 & Band 2-3/N are relevant & may kindly be seen.
2 As per existing practice for granl of new UAS licences, after preliminary
examinations of applications, as on date of Applications, required clarifications!
co.mpliancesi certificates ~ere obtained from the cornpany before issue afLoI so far.
However, in certain cases the compliances have bet'.n considered at a date before issue
ofLoI. based on clarification sought and for seeking updated information. .
3. The service area wise seniority based on the date of application of the company
is indicated in the list at 117/c.
4 The case was sent for further examination of LF and JP Wings. JP Cell at 4/N
has noled Ihal the statement at Sex) and 8(xiv) is not correct. Preference shares are not
counted for calculation of FDI and are treated Ilt debt. Hence equity of MIs. RTL
wt,uld bQ 9.871'1"0 only. The Il.pJjllcatioh ia old, hence we may ask compliance of
amended licence conditions which includes Pres~ 'Note 3 (2007) and equity structure
in tenns Press Note 3(2007). LF may also please ,een. At 4!N, the Dir(LF-lJI) has
noted that •• deficiency have been listed on 3/N. however whether prefe:-ence shares
can be included in the equity holding disqualify a.•• in clause 8(xiv) on 3/N needs to be
examined_ Whelher networth can include such items as listed in the details given by
the company also needs 10 be examined. DDG(LF) has noted that Ihe wailing detailsl
information may be called for. Moreover, as per discussion with DDC.J(AS), the
depanment is in receipt of 8 communication from an advocale of High Court who has
brought out the issue of cross holdings of Tiger Traders Pvt. Ltd., promoters of Swan
Telecom. The relevance of the issues raised need io be examined, if required with
inputs from Department of Company Affairs. This is suggested to avoid awkward
situation., ifany_ from arising in fu!Ure. copy of the communication is placed in file.
r"s_ It is separately menlioned at 59/C that MIs. Reliance Telecom Ltd. (RTL) is
; 100% owned by MIs. Reliance Conununicatinfls Ltd. (RCL). Jt has been broughl to
.:..;"\ the notice of this office that there is cross holding of equity among ..the shareholders of
I Mis. Swan Capital Pvt. Ltd. ( now Swan Telecom Pvt. Ltd.) and it has been alleged
~hat the substanlial equity clause may be compromised. The company is to chflrif).'.
6 The above observations may kindly be seen and the matter for issue of LoI(s),
m order of priorily in each service area as inrlicated in the list at ]J 7/c. is to be
decided_
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-SIN-
~ File No. 26-S212007-AS-j
Notes on pages 2IN to 7/N may kindly be seen.
Applications dated 23.01.2007 for Jammu & Kaslunir SerVice Area and
02.03.2007 for 13 (Thineen) Service Areas of Andhra Prade~ Delhi, Gujaral,
Haryana,J(8ma"tiika:-k-ei1tla, Maharashtra, Mumbai, Punjab, Rajasthan, Tamil Nadu,
Unar Pradesh (East) and UUar Pradesh (West) submitted by MIs Swan Telecom
(Formerly Capibl) Pvt. LId. for grant of VAS Licence have been scrutinized as per
the guidelines for the Unified Access SCrvlce l..icence dated 14.12.2005. Remarks of
the LF branch relating to financial conditiong ar.: mentioned below:
4. With reference to para? ,8...3..'of the nme of AS Branch, in case the. LOI is
10 be given without first ascertaining that the application is complete in all
respects and that the applicant meets all the eligibility criteria, it is likely
that there may be some appHcl1nts who are not eligible (')t whose
applications are not complete in all respects also reCeive an LOL Since. as
recorded at 6 IN. the entry fee is non~refundable and the PBG. FBG will
be encashed -if the applicant is found to he ineligible later. it is important 10
apprise the applicani clearly ofsuc.h an eventuality.
(At! (~ The. entry fee is non.refundablc. Tn case it is found that the applicant is
nm eligible for the UAS License, the paid entry fee shall be forfeited. In
case the applicant is found to be ineligible on the date of the application~
and subsequently (but before the signing of license) achieves compliance
with ihe LOI/UAS License conditions, the date of priority will be the date
•.m which he become:::: eligible. The applicant must accept this date Ot:"
withdraw his appJicr.:tion. Withdrawnl of application shall result in
forfeiture of the paid entry fee and encashmem and forfeiture of the
submitted PBG and FBG.
.•. Further, in case the applicant has nOI provided aJJ the documel1ls to prove
compliance with LOfJLicense cnnditions, the applicant should also be
apprised oT all discrepancies! deficiencies in the application. These
di~crcpanciesl deficieides shoulri be communicated as an annex to the
L01.
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File No. 20-8212007-AS-1 .
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{/ NO.20/B2/2007.AS-1 ,
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Department of Telecommunications
t~ (AS Division)
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Subject: Application(s) for grant 01 new UAS Iicence(s),-to s~~ T,),.o_ p.,j.cl--\- ,(,
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(rvladan Chaurasia) • J
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14 iJ File No.20-8212007-AS-l
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File No.20-B2I.007-AS-]
Department of Telecommunications
(AS-I Section)
S!bjecl: 14 Applications of M'S. Swan Telecom Pvt. Ltd. for gr.nt ofUASL
. in Andhra Prade.!ih , Delhi, Gujnrat, Haryana, J&K, Karnataka,
Kerala. Maharasbtra, Mumbai, Pllnjah, Rajasthan, T8miln~du, Uttar
Pradesh (East) & Uttar Pradesh (West) service areas.
.An appliclltion!' dated 23.01.07 was ~ecei"ed from MIs. Swan Capital Pvc
LtG. f,lr ~r3nt of Unified Access Service i~jcencc for J&K service area (lIe).
~uhscq\lcnlly" on l~r February 2007 rh~ cC'mpany has furnj~h(d further
mfonnation regarding compliance of substantial equity clause (571e). On 2nd
March 2007. the company further provided supplementary information regarding
it~ share holding pattern etc. which is placed at 60-75/C. Again the company
suPmitted a lener daled 611t March 2007 informing change of name of the
cdmpany along with copy of fresh certificate of incorporation iSS1!ed by registrar
of;companies which is placed at 75- 78/C.
2.; Subsequently, on 23:07, Mis. Swan Telecom Pvt. Ltd. submitted 13 more
artPlicotions for grant of UAS Licences for Andhra Pradesh, Delhi, Gujarnt,
Hhryana, Kamataka, Kernla, Maharashtra. Mumbai, Punjab, Rajasthan,
T.milnadlt. Uttar Pradesh (East) & Uttar Pradesh (West) service ar"as (5-17/c).
,
3.: Further, on 2.3.(17. two more applications were filed by Mis. Swan
rJlec.om PVI. Lid. for Assam & North-East service areas (l9-20!c). However.
vide- (eHer dated 6.3.07, the company requested for withdrawal of ihese two
applications for Assam & North East service Rreas (87-92/c).
,
4.' Thus. the total numberof2pplications for granl ofUAS: License submitted
by' the company are ]4 i.e. the company has applied fot J 6 Service areas na.mely
Andhra Pradesh, OuJaral. Hary"na, Jammll & Kashmir, Karnataka, Kerala,
Mahara~htra. Punjab, Rajasthan, Tamil' Ni1lJu. Uttar Pradesh(EflSl), Uttar
Pradesh(Wesl). Delhi and Mumbai service are<15.
5.. A processing fee of RS.I5.000/- for each service areas have also been
futnished by the company an'd the same had heen forwarded to Pay & Account:;
Officer, HQ, DOT on 27.08.2007 .
6. Vide. Jetter dated 7.12.2007. the company has intimated regarding change
in sharelh)lding pattern ;f t'lie
company (126!<:'i.
7. A~ mention in para 5 of 6/N. vide letter dated 8.] ],2007 (] ]R/c), i.e.
before the recent change in the equity structure of the company. it was brought to
(h~ nOlice of this office that there is cross holding of equity among the
shheholders of M!s. Swan Telecom Pvt. Ltd. and it was alleged th::u the
sn~Sfantial equity clause may be (om promised (l18/c).
,
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8.1 The applications were examined vide notes on I-11IN the sarnc may ~
ki*dlY be perused please. Vide 'A' on lOIN, DDG(LF) desired to know the share
holders Mis Tiger Traders Pvt. Ltd. and its parent company. However, based on
th_ decision io F. No.20-63/2006-AS-[ (1221c) and I'. No.20-100/2007-I\S-1 (Part
'C') (l23!<:) :mcl in view of c\\ange of sharcholdiug of the company 026/c),
the cornpnny, viele our !ener datelf 1O.12..20()7 (I 25ic), was asked to submit
.:!ariiicatlons! infonnation! supporti;Jg docllmcnis. Vide letter dated 13.12.2007
(12~/c), the. company has submitted the n::quisitc clarifications! informati:m..'
~upporting documents.
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File No.20-8212007'AS'l.
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.':). Ora"1l of LoIs and. SigRiRQ )f I jCepce 'B",Bmem shall be considered in.the
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priority as per the list at 117fc in each service area after the applicant
,:v:y,pany is found eligible for grant ofUASL as per I~e eligibility condition.
!O. Accordingly, a preliminary check has been carried out by DIR(V I,\S-
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II)/ADG(VAS-I) and has enclosed a check list at I29/c. Some of the important
observations have been made as below. . . ,'(
'i-', ~lame & designation of the person who has signed the documents has 'not
'leen mentioned at all places, wherever signe.:.. Certificate of true copy:not
:nenlioned on relevant places.
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"T1le company has intimated that CEOi CFOi CSO/CTO htlVe not been (
FlPPOlmed as yet.
;'lii. r"onn 32 for all Directors has not been submitted.
rhe ~ompany has mentioned that Business Plan was submitted along with
applications_
TIle c.ompany ha:: menlioned that document was submit!c(\ along with
appJication(s), however, certified copy nOt enclosed with reply dated
12 1'.2007.
{vi \ Most of the documents have been shown dated 13.12.2007 whereas
forwarding letter is dated 12.12.2007
iM~dan Chaura.c:;ia)
S.O.(AS.])
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2. Netwonh afM/s Swan Telecom p"t. L'!d, and its promoters as on' date of
application i.e.23.01.2007 was 1100.28 croro; and as 00 13.12 ..2007 was
RS.II04.318 crores against the required networth of Rs.1 030.00 crores for all \4
.! (Fourteen) Service Areas (P-20 & 21 of 128/c).
3. FDI is 9.90% which within 49% for which no FIPB approval is required.
Furthe-r it is also mentioned that initially equity holding pattern of Mis Swan
Telecom Pvt. Ltd. as on 03.05.2006 was as under:
Now <1.5 per details s.Jbmitted on i2.12.2007 the 9.9% ownership of Mis
Reliance Telecom Ltd. has been transferred 10 Delphi Investmcn; Ltd. Thus the
holding pmtcrn has been modified by replacing Mis Reliance Tekcom Ltd. with
Mis Delphi Investment Ltd. a foreign C1)mp~my.
4. The Share Holding pattern of Tiger Traders Pvt. Ltd. and its parent
companies has not been provi.1ed in response to our notings at 1DIN.
5. Mis Swan ~e1ecom Pvt. Ltd. was not having Telecom Services in its
object clause of the M & A of A when the company submitted its documents
along with application on 23.01.2007 and 02.03.2007. Telecom Services t,avc
hcen inserted in the object clauses by Special Resolution at the Extraordinary
('jcm:ral Meeting held on 07.02.2007_ which has been approved by the ROC
(111 J 5.02.2007.
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Reference notes al pre. pages.
An applieatio
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daled 2).01.07 was received from Mis. Swan Capilal
pvt. Ltd .• an Indian company; for grant ofllnifled AcCess Service Licence for
J&K service area (I/c). Sub!rquenlly, on I" February 2007 the cnmpany
furn"h furlhcr infonnatiO" regarding coll\pliance of suhslanlial cquily e
daus ed (S7/c). On 2"' March 2007. tbe company further prnvid ,!
supplementary
e inf<>lmation reg"ding ils ,hRle holding pattern ele. 'vhich is
pla,;c<1 a' (,0.75Ie. 1
Ag"n the comp,ny suhn'iued • letter dated 6'" MRleh
20tP re~arding change Df n.me nf the o.omp""y from MI, Swan Capil. pvt
\.I" I" MI, Swan rdccrlln Pvo Ltd aloog with copy of fresh ccrliflcate of
H'Ll'n,o",ti"O ,,,,,cd hv registrar of c",np.nics which is placed at 7 S.nic.
ed
2. s"hseQuenlly. 0" 2J.07. Mis. sw.n T<lceom pv\. LIl\. ,,,hlnitt 13
",orc application' for grant of L1I\S Licen'.;es for ",ndhra Pra,lo<h.
bai Ddhi.
Gujar . l1a ya ,. Karoa"ka, Kerala, Maharashlra, Mum . vice
punjah.
Rajastb r o
al , Tamiln , Ullar Pradesh (1'.0>1)& Uttar Pradesh (west) scr
adu
an
;:l.TeaS (5- \ lIe).
:t. Vidc letter dated 7.12.2007, Ihe company has intim'ted regarding
change in sharcholdiog pa'tern of'he company (126/c).
4. The applicatioos were examined vide noles on 1-8/N. Ihe same may
1.
kindly be perused please. Vide' A' on 71N. OOG(LF) desired ID knoW the
i-
share holders Mis. Tiger Trader, pv\. \..I'\' and its palenl companY. However.
based on .the dedsion io F.No.2G-6312006-AS.1 (122ic) and f.No.20.
100120 .I\S.1 (Pan 'C') (123lc) aod in view of change of ,h"eholding.o lc
f
t"
Ihe company
07 (12 ), tho company. vide our letter dated \0.12.2007 (12S ). ';~
was asked to suhm 61C c1",'ilicatiOnsiinfonllaliOniSUpporting eci Vide
dOClI\\,cnts. ,
.r
it
letter daled 13.\2.2007 (128ic', the company has s"h"nll ,be
c1l\riflca\ ionsfinf onnatlllnlsllpportl\lg documents. >1
5. -" c\leck lis< as per the preliminary check isal \ 29/c and t.F .'1pnsWings > 1
were requested ID further ,,",ninc the case W.r.\. 10 eligihility cnndiuo such "
e n
as Ne.tworlh. EQuilY, S ,hstaoli,1 Equi'y and FDlIFor ig Collaboration. elc.
(, \1' "ell has indicatel! on ;'1/1" thai "fDI is 9.90% ,,'/Iich i.' Ic.'S ,,,,,n
49% and nlin".,,1 ,mdc •. "H,,,mmie """'e", "such the c:o,,,pany" compliaot
10 FO\ requirelTlent.
7. TIle matter h" heen examu,ed in de'~Y LF hr"nchon ,'.5IN. q.
aa
lOiN, 13.151N
The Finaoe& IR/N.branch ha> observed on \8/N'. Ihal "MI" Sw Telecom
p",- Ud. has indicated e ,ho' 9/).10 % ,,(lhe paid up eq"i'J' eavilal of 109.01
ero was owned by MI,I Tiger' Traders P,'I, Ltd. oad 9 9/)% of ,he paid "I'
equity
res capitol was held by Mis Reliaace Telecom Ltd. Tlicr< ,,'ere 99.10
Lakhs prefereae shores of joee ,'ol"e Re. Ii. each owned by Mis Reliance
e
Tele.comItUd was... also ohserved hy linance branch thai "TI>< ne,,,,ortl, of MIs
Swan Teleealll pvt. Ltd. ",ill, equit}' sl,a" capitol of (Ils ..! 109.01 Cra,"s.
p,-erereaee share COl'iwl a.f(Rs.! .991 erores, sho,'e pc"",i"fO (on preference
0rr
<I,Of"'; of Rs. 99;.00rr erores and" prof!r ofRs. 3 ..l e"ores v is ;"dica"d a.'
n•. l1n4.31R era .'." (Jlher obs"paliOOS also may kindl he ,een at 1RIN.
re
However. rrna hranch has nol expresseci an,i deci,lc" tl'" ,he
nee
cOlnp,ny me<" the eligihili'y criterioo for paid "1' cQ"ily cap'''l. ncc oet"nr,h
"",1 ,,,hs,,ntial e~uilv as on dOle of applicalion. I\s 'he meol lina braoch (Ll')
w", ceQue,ted '0 ,X'"nn," ;11,0\ ascerlOio Ihe f"lf.tl ch
of eligihihlY
cnoelilie,ns vidc pa" 8 of t" 'N. ,t,e ,hove oh«rv" io" 0"
I'n"nc" hran "",,1,1
he cnnslrued ,Lac ,he cn"'p'O) meelS the e!igihi\it" criterion as o",hing
ve
otherwise has been nbserve,\. fi"ance hranch may coor,on rlc"c.
7. \ The ser"iCe areawise priorilY lis' of Ihe ,prlic'tio'" Incntiooe,1 aho
for ,ss"e of LOt' a,,'\ gr.nt of U/IS licences is oS p." 1'" "laced '" 1 \ 7/e.
" II i.l: 11 r
V
J ..
R.eference notes at pre-pages.
An application dated 23.0! .07 WRS received from MIs. Swan Capital
PVI. Ltd. for grant of Unified Acce."S Service Licence for J&K service area
(lIe). Subsequently, on pi FebruClry 2007 the company furnished further
informcllion regarding compliance or SUb$lantial equity clause (57/c). 2nd On
March 2007, the company further provided supplementary information
regarding its sblfte holding pattern elc, which is placed at 60~ 75/c. Again the
company submitted a letter dated 61h March 2007 regarding change of name
of the company along with copy of fresh certificate of incorporalion issued
by r.egistrar of companies which IS placed al 75.78/c_
S_ The applic31ions wer~ examined vide notes on j -BIN, the same may
kindly be perused please. Vide'A' on 7/N, DDG(LF) desired to know the
share holders MIs. Tiger Traders Pvt. Ltd. and its parent cOmpiln}. HO\l{ever.
based on [he decision in F.No.20-63/2006-AS.j ((22/c) and F.No.20.
1OO/2007-AS-J (Pan 'C') (l23/e) ana in view of change of share-holding of
The company (J26/c), the company. vide our leiter dated 10.12.2007 02S/~).
was asked to submit cJanficationslinf()rmation/supporting documents. Vide
it
leiter dated 13.12.2007 (128/c). the cornpnny submitted the requisite
dari ficatiOllsli nformationfsupporti ng docllmems,
Po nle company. "ide rt~ietIer daTed il4.01.OS (132/c). has submitted the
requisite ctarification. We may forward the file 10 LF branch to examine and
ascerlsm thl:' fultll1ment of eligibility condilions such as Nelw()fth, Equity.
Subsrantlal EquiTY and FD1fForcign CrdlClhoration. etc, in ,•..jew of lheir nores
::ISmentioned in pam 7 ahove lakmg inro consIderation the reply of the
CnrnpClny placed m j'32/c please' Q
.20"'-08=1 m""j.'" ii?
(Madan Chaurasia
S.O (AS.I)
DDG~
_/ - •..•.•..
Mcmbef1f)
/' ,r
~"'.sL
%\\
I I
"
i
- ..
-lRf!'/-
In the recent clarification dated 04.01.2008 ir is stated that the 99.20 Lakh
Preference Shares of Mis Swan Telecom Pvt. Ltd. with face "alue ofRe.l/- each
have been transferred to Mis Dynamix Balwas Infrastructure Pvt. Ltd. These
preference shares hav~ premium of Rs.9991- per preference share and were
esrlier held by Reliance Telecom Ltd. This contributes substantially to the
:.t:'~.
Submitted ple~e. ~.~
A.O. (Lf-II)
;".'
i
P.>b~-l'-~
'0\
~bef(f\
If'y-J
.~
" I 1
-~IN-
include Iclf:com activily <I." Pflrf of object cI~u!>c on 07-02-2007 qnly. Hence
tilt.: nrr11crl'ion dlllcd 2J-I-2007 for J&K .'\ervicc arc(] docs nof have Iclecl)nl
;'Clivil}'/husltlcss in the object clause as on date (If applicfltion. Horvever olher
T:i applications submitred' on 02-03.2il07 CIS in p<lfa 2 :tbovc are cUlllplianf tn
'lbjccl c1<lu~ein MAA a:<:.()n dale of applicMjol1.
iii) As per para 8 above, one application for J&K serviFC area i~
not c0111pham in respect of object clause. however. I:' applications which
were reccivccl 0n 02.03-2007 i.e. hefore 25.09.2P07 ,p'e in order' and may
he considered for grant or LOis for UASL rClr Andhra Pradesh, Delhi.
GUPlrJt. Ht1ryana, Kamataka. Kerala. Mah(]ra~hlra, Mumbai,: !,unjah.
Rajasthan. TamihlCldu. UU<lr Pradesh (East) & Ultnr rrfidesh (West) service
areas. Accorclingly, draft LOis for the above saill service areas .has been
DHemp,ed and placed at DFAtJ,:;!C tol49c for perusal. It is to me/ltion Ihal
the case file for policy regarding gram of 1...01 in the presenl Cases has
already heen submitrerl for decision in a scpar,lte me Nn.20-I00!2007.AS_1
(!'llrt-C). LOis IllflY he issued pllrSll<lnl to aprropri<lte decision in this
'T:gilrd.
::iii). I\s per the ohservaliom made in p.,ra 7 ;lbove and ion [BIN,
fin(lnce branc.h is also to ensme lnt'll the t'lbove rroro.''ill ;Of grant or LOIs in
1.1 ."crvtce areas is' in (lfdcr w.r.l. eligibility criferion for paid ur equity
\:i1pilal, nctworth ano substnntial equity heforc :lprf(lVtl! of diaft LOis
proposed
~_ DireCtor(AS_I) ~)
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