DoT amends NLD License (Other than UL) for change in FDI Compliance report

Aug 06, 2022 | by TeamLease RegTech Legal Research Team

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Industry Specific ComplianceThe Department of Telecommunications (DoT) on August 04, 2022 has issued a notification to amend the NLD License (Other than UL) for change in FDI Compliance report under Condition 12.1 of the NLD license.

The following amendment has been made:

1. OWNERSHIP OF THE LICENCEE COMPANY

1.2 The LICENSEE shall declare the Indian & Foreign 1 equity structure (both direct and in-direct) in the Licensee e company and submit a compliance report regarding 1 compliance of FDI norms and security conditions on 1st day of January of every year to the Licensor in Proforma as may be prescribed from time to time. This is to be certified by Company Secretary or Statutory Auditor, countersigned by duly authorized Director of the Licensee Company.

When there is a change in FDI in the Licensee's company, the Licensee shall also submit the FDI compliance report within 15 days.

[Notification No. 10-54/2010-CS-III(VOL.II)]


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