20 April, 2019
The Department of Telecommunications (‘DoT ’) by way of its notifications dated February 25, 2019 and February 28, 2019 amended the license agreement pertaining to:
(i) Public Mobile Radio Trunking Services (PMRTS ) licenses (other than unified licenses);
(ii) International Long Distance (ILD ) licenses (other than unified licenses); and
(iii) National Long Distance (NLD ) licenses (other than unified licenses) for modification in the rate of interest chargeable on delayed payments of license fee/spectrum usage charges or any other dues by the licensee, from 2% above the prime lending rate (PLR ) of the State Bank of India (‘SBI ’) to 4% above the marginal cost of lending rate (MCLR ) of the SBI (as on the beginning of the financial year, compounded monthly).
The amendments come into effect retrospectively from April 1, 2016.
For further information, please contact:
Zia Mody, Partner, AZB & Partners
zia.mody@azbpartners.com
