India’s Department of Telecommunications (DoT) has cancelled the mobile licence of Russian-owned-Swiss-registered ByCell, according to reports.
The DoT said that its decision was made on the grounds of security concerns, and said in a letter from the…
India’s Department of Telecommunications (DoT) has cancelled the mobile licence of Russian-owned-Swiss-registered ByCell, according to reports.
The DoT said that its decision was made on the grounds of security concerns, and said in a letter from the regulator to ByCell’s CEO: “The five letters of intent (LoI) are hereby withdrawn as the security clearance and all the Foreign Investment Promotion Board (FIPB) approvals granted to the company have been withdrawn.”
The DoT will refund the entry fee that ByCell paid as part of the licence award, around US$19.33m.
ByCell had been awarded licences for five circles: Assam, Orissa, Bihar, North East and West Bengal.
Both the FIPB and the Ministry of Home Affairs expressed concerns over the shareholding structure of ByCell and questioned the company’s source of funding.
