The Department of Telecommunications (Satellite Division) on 3rd August, 2022 has issued a circular to all INSAT MSS-R Service Licensees regarding change in the License Agreement provisions with regard to FDI Compliance report.
Schedule II of the License Agreement providing the General Conditions regarding the ownership of the licensee company is amended to include the following changes-
- The licensee shall declare Indian and Foreign equity holding (both direct and indirect) in the licensee company and submit unconditional compliance to the FDI norms and security conditions on 1st day of January every year to the licensor.
- When there is change in FDI in the licensee’s company, the licensee shall also submit the FDI compliance report within 15 days.
