New Delhi: E-auction of the first batch of 135 FM radio channels in 69 cities are set to start soon with the Home Ministry giving security clearance to at least 20 applicants to take part in the bidding process.
The Home Ministry is understood to have refused security clearance to the Sun Network which was one of the 28 applicants that responded to the notice inviting applications for bidding for the first batch of channels in the e-auction under private FM Radio Phase III expansion.
“With the security clearance, the Information and Broadcasting Ministry now can go ahead with the bidding process for E-auction for 135 FM radio channels” official sources said.
The Home Ministry’s security clearance is mandatory for the applicants to take part in the bidding process.
Government hopes to garner an estimated Rs 550.18 crore in revenue through E-auction for 135 FM radio channels of first batch in 69 cities.
The I&B Ministry has been pressing for early process of security clearance to the FM channel applicants to initiate E-auction for 135 FM radio channels as the process has already been delayed too much.