April 2 set as new deadline for telcos to show FDI compliance
03 Jan 2007
New Delhi: The government has extended the deadline for telecom operators to comply with the guidelines in Press Note 5 related to increase of FDI limit to 74 per cent. The new deadline is April 2, 2007.
The government had earlier set 2 January, 2007, as the deadline, which has now been extended because some of the norms in Press Note 5 are currently under review. The union cabinet had announced this decision late last month.
The cabinet had appointed a team led by the cabinet secretary to rework the proposals made by the Department of Telecom (DoT), especially those related to permitting remote access to operators. It had also broadly approved most of the other proposals including the ones dealing with foreigners holding key posts in telecom companies.
While Press Note 5 had banned remote access, the DoT had proposed to allow it with some restrictions. Remote access would allow multinational telecom operators to monitor their network in India through network operating centres outside the country.
.jpg "CBDT explains Budget proposal on capital gains tax")
