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TMI BlogEnhancement of the Foreign Direct Investment ceiling from 49 per cent to 74 per cent in the Telecom sectorX X X X Extracts X X X X X X X X Extracts X X X X ..... Long Distance, V-Sat, Public Mobile Radio Trunked Services (PMRTS), Global Mobile Personal Communications Services (GMPCS) and other value added services], subject to the following conditions:- A. The total composite foreign holding including but not limited to investments by Foreign Institutional Investors (FIIs), Non-resident Indians (NRIs), Foreign Currency Convertible Bonds (FCCBs), American Depository Receipts (ADRs), Global Depository Receipts (GDRs), convertible preference shares, proportionate foreign investment in Indian promoters/investment companies including their holding companies, etc., herein after referred as FDI, will not exceed 74 per cent. Thus, 74 per cent foreign investment can be made directly or indirectly in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DI in the licensee company/Indian promoters/investment companies including their holding companies if it has a bearing on the overall ceiling of 74 per cent. While approving the investment proposals, FIPB shall take note that investment is not coming from unfriendly countries. E. The investment approval by FIPB shall envisage the conditionality that Company would adhere to licence Agreement. F. FDI shall be subject to laws of India and not the laws of the foreign country/countries. G. Department of Telecommunications (DoT) will enforce the above and the conditions mentioned below through appropriate amendment in licence:- (i) There shall be a non-obstante clause in the licence which confers powers upon the licensor to cancel the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n entering into roaming agreements with service providers outside India must provide, on demand, the list of such users (telephone numbers, in case of foreign subscribers using Indian Operator's network while roaming). (vii) The Company must provide traceable identity of their subscribers. However, in case of providing service to roaming subscriber of foreign Companies, the Indian Company shall endeavor to obtain traceable identity of roaming subscribers from the foreign company as a part of its roaming agreement. (viii) No traffic (mobile and landline) from subscribers within India to subscribers within India shall be hauled to any place outside India. (ix) No Remote Access (RA) shall be provided to any equipment manufacturer or a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nion Home Secretary or Home Secretaries of the States/Union Territories. (xii) For monitoring traffic, the licensee company shall provide blind access of their network and other facilities as well as to books of accounts to the security agencies. (xiii) In case of not adhering to Licence conditions envisaged in para G, the licence(s) granted to the company shall be deemed as cancelled and the licensor shall have the right to encash the performance bank guarantee(s) and the licensor shall not be liable for loss of any kind. 2. The conditions at para 1 above shall also be applicable to the existing companies operating telecom service(s) which had the FDI cap of 49%. 3. The relevant provisions of FDI policy for 'investment companie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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