MUMBAI: Times Group’s Entertainment Network India Limited (ENIL), which operates one of India’s most popular radio stations- Radio Mirchi, had earlier approached the Madras and Delhi High Courts in light of the conditional approval given to Sun TV Group’s radio network by the Madras HC. The hearing for the same was adjourned to 21 August. However, with the recent Red FM verdict, allowing the network to participate in the Phase III auctions, ENIL has decided that it will not appeal further.
ENIL MD and CEO Prashant Panday said, "We are very happy with the final order the Delhi HC has given. It removes the conditional approval worry of ENIL. So, we are not appealing any further."
The e-auctions will take place in New Delhi on 27 July from 9:30 am onwards. The Delhi High Court, which had earlier permitted Digital Radio Broadcasting Ltd, which runs Red FM to take part in the mock e-auction, on 26 July, gave permission for the network to take part in the main e-auction for FM Phase III.
ENIL had approached both, Madras and Delhi High Courts, due to the conditional approval given to Sun Group companies, namely Kal Radio, Sun TV and South Asia FM Ltd. In a previous interview, Panday stated that the conditional approval "puts the radio industry in a tizzy."
Panday had earlier said that ENIL was opposed to a conditional approval to Sun Group, and clarified that ENIL had no problem if Sun Group participated in the auctions.
Explaining ENIL’s stand, Panday said, "Conditional would put the whole auction process in jeopardy. Since all cities progress simultaneously in this auction, removing any winning bidder later (if required) is impossible. If still done, it will harm the interests of other bidders whose strategies could have been different had they known this. That is why we did not want conditional approval for Sun. We were fine with any final decision. The conditional approval allowed Sun TV to participate, however, the result of which, will be kept in a sealed cover and produced before the Court. As you know, TOI Group has been against the revocation of their (Red FM) license."
