JPC tracking shareholding details of all telecom operators

JPC tracking shareholding details of all telecom operators

It is learnt that the Ministry of Corporate Affairs (MCA) has furnished details of 24 licence holding companies but the JPC has demanded it in a different format.

These licence holding companies are subsidiaries of Bharti Airtel, Reliance Communications, Tata Teleservices, Vodafone, Aircel, Idea, Quadrant Televentures, Loop, Videocon, Unitech Wireless, Etisalat DB, Spice Communications, Shyam Sistema, Koshika Telecom and others.

Koshika Telecom had operation in UP East and its licence was terminated by DoT in 2002 after its failure to comply with licence condition under NTP 1999.

JPC has even sought details of various filings made by state-run telecom companies BSNL and MTNL.

MCA claimed that it has provided all the information from 2006 onward as the records were maintained digitally since then.

"The information desired by JPC in respect of change in equity etc has not been made available by MCA in the proper format," said an internal note of DoT.

The corporate affairs department has left mammoth task of digging out data of various filings made by the companies across 11 years for period between 1994-2005. MCA has asked DoT to appoint a representative to coordinate with Registrar of Companies for collecting the various details sought by JPC.

DoT which is coordinating with JPC in enquiry will now have to gather copies of various filings made by these companies. This include Form 2, Form 20 B, filings related to memorandum of association and article of association, annual returns etc.