Saturday, 10 October 2015

TDSAT disposes of NSTPL’s application as Govt. cancels tripartite agreements for DTH loan

The Telecom Disputes Settlement & Appellate Tribunal (TDSAT) has disposed of headend-in-the-sky (HITS) operator Noida Software Technology Park Ltd’s (NSTPL) contempt application against the Ministry of Information & Broadcasting (MIB) as the latter has done away with the provision of tripartite agreement between direct-to-home (DTH) firms and lenders. 
When the matter came up for hearing, MIB counsel Sandeep Mahapatra produced the copy of the order dated 5 October, by which the ministry’s earlier order dated 3 December 2009 was cancelled. 
According to the copy issued by the Ministry, the provision had been made for financial loan or assistance in the DTH sector by assigning licence agreement as security to banks and financial institutions. This was to be done in the form of a tripartite agreement with the bank or financial institution, the operator and the government.
The order has now come into immediate effect. 
The Tribunal said that in view of the decision of the government, which was also conveyed to NSTPL, the "application no longer survives and is accordingly disposed of."
Sourcehttp://cablequest.org/index.php/news/legal-news/item/7998-tdsat-disposes-of-nstpl%E2%80%99s-application-as-govt-cancels-tripartite-agreements-for-dth-loan

Source: http://cablequest.org/index.php/news/legal-news/item/7998-tdsat-disposes-of-nstpl%E2%80%99s-application-as-govt-cancels-tripartite-agreements-for-dth-loan

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