Govt makes it mandatory for telecos security clearance
The government has proposed to make security clearance mandatory for foreign telecom companies, irrespective of the equity they intend to own in their Indian venture.
At present, foreign telecom companies do not need a security clearance for entering India with up to 49 per cent equity holding.
It stakes that the proposals are vetted by the Ministry of Home Affairs before being cleared by the Foreign Investment Promotion Board (FIPB).
The rule would be applicable only for new ventures. Members of the Department of Telecommunications (DoT) are scheduled to meet today to discuss the recommendations of the Committee of Secretaries on the issue.
The Committee has also said key executives like the Chairman, Managing Director and Chief Finance Officer would also need to be vetted before a licence is issued.
Now, thee permissions can be taken after a telecom company gets its license
(Posted on 03-04-2014)