More time to comply with new cross-holding norms

Telecom companies or their promoters having direct cross holding in a competing entity in the same licence area will get six months to comply with the new regulation proposed in the Unified Licensing (UL) regime, which would abolish the option of cross-holding.

The Department of Telecommunications (DoT) has proposed that any existing arrangements contrary to the proposed regulation shall be made consistent with the new guidelines within six months.

In the new UL draft, DoT has proposed to prohibit direct or indirect cross-holding by a telecom company or its promoters in a competing firm in the same circle.