New Delhi : Sun Group CFO S L Narayanan has expressed that their lawyers are confident of getting a stay in court against rejection of the group’s application for participation in next phase of FM auction, which is likely to be held shortly.
The Sun group will move court on today challenging the government decision not to allow it to participate the Phase-III auction process of FM radio.
“We will move the court on Monday challenging the decision. I am hopeful that we will get justice. We will knock the door of every court,” Sun group Chief Financial Officer S L Narayanan told PTI.
He said that the company has an extremely strong case and it will get relief from the court.
“We will get acquitted. Because nowhere in the world anybody is punished before adjudication process is over. Due process of law has to be exhausted. Till then I am presumed innocent,” he said.
Five companies of Kalanithi Maran-promoted Sun TV group will not be able to participate in Phase III FM auctions as the Information and Broadcasting Ministry has rejected their applications.
An Application Review Committee has rejected the applications of the companies belonging to the Sun group, which had failed to get a security clearance from the Ministry of Home Affairs.
The I&B ministry released a list of 21 companies that were the ‘pre-qualified bidders’ for the first batch of the e-auctions for 135 private FM channels in 69 existing cities.
Security clearance from the Ministry of Home Affairs is a necessary condition to apply for the FM auctions.
The Ministry of Home Affairs (MHA) had earlier denied security clearance to the Sun TV Network which had cast a question mark over its bid to participate in the auction.
The I&B Ministry is planning to conduct e-auction of 135 private FM channels in 69 existing cities in the first batch of Phase III.
Narayanan claimed even assuming that Mr Maran has to face consequences because he had done (something) terrible, it should start and end with the individual.
“Why should the company be put out of business ? Why should a company which is in radio business which wanted to participate.
“We are the largest FM radio network in the country. If I am not there, the auction itself will have less rivalry which will have impact on the money to be raised. In public interest I should be allowed to participate,” he said.
Narayanan said even charges are not framed but the company is named. But there are companies facing trial which have been allowed to participate.
“We have to go and tell (court) that it is arbitrary, our lawyers are completely convinced that we will get stay,” he said.