Two private FM operators have obtained an ad interim stay from the Bombay High Court on invocation of their bank guarantees by the government following their failure to pay the license fee for Delhi and Chennai FM stations by the August 29 deadline.
Millenium Broadcasting and Radio Mid-Day have obtained the stay anticipating the government to encash their bank guarantees of Rs 10 crore each in case they failed to deposit the license fee in time. Officials of Radio Mid Day and Millenium Broadcast admitted to having obtained the stay order valid till September 2.
An official of one of the companies said: