As telecom operators along with some other private satellite televisions and FM radios in the country are frequently changing their share structures without prior approval from the telecom regulatory authority, they are going to face tougher action soon.
Meanwhile, Bangladesh Telecommunication Regulatory Commission (BTRC) has served a show cause notice to all the television channels and radio stations that have transferred shares, asking them to explain why they should not face any legal action for changing their capital structure defying the telecom act?
In reply, most of the tv channels said “sorry” for their mistakes and assured the regulator of not reoccurring the same mistake in the future.
Most of the televisions and radios that had got licenses during BNP-led four-party alliance government tenure, have changed their ownership structure during the tenure of the immediate past AL-led government.
But, recently, an International Gateway (IGW), Digicon Telecommunication Limited, that are used to terminate international telephone calls only have changed their share structures after getting prior approval from the BTRC.
Digicon Telecommunication Limited rearranged their 1,00,000 shares after a shareholder Jasimuddin Ahmed left the company, who had 45,000 shares.
Following this incident, BTRC served the same show cause notice to the Digicon and yet to get any reply.
Under the exciting telecom act, BTRC can even cancel the license or fine up to Tk200 crore for committing the offense.
Besides, the telecom watchdog has ordered all the telecom licensees enlisted with the Registrar of Joint Stock Companies and Firms (RJSCF) to take prior permission when they change their capital structure.
The telecom regulator has also given some directives to all the telecom operators including mobile phone companies, Internet Service Providers (ISPs), Broadband Wireless Access (BWA), International Gateway (IGW) and International Terrestrial Cable (ITC) operators.
The regulator issued the directive following violation of section 37 (2) of the telecom act 2001 by a number of companies relating to the capital market issue.
The directive read that some telecom license holding companies are changing their capital share taking approval of RJSCF, but do not inform the regulator, which is a violation of the telecom act and licensing condition.
The directive signed by M A Taleb Hossain, director at Legal and Licensing Division of the BTRC, also said the telecom licensees have legal obligation of taking prior approval while changing their capital structure, new share issue and distribution, restructure of board of directors or inclusion of new share holders.
When contracted legal commissioner Abdus Samad said: “Recently, Telecom license have become very sensitive especially for the spectrum license holders and share transfer against these licences should go through some process and also some strict scrutiny by the government.”
