Delhi High Court allows 'Red FM radio' to participate in e-auction of FM Channels

CL : Where petitioner radio broadcasting company was denied security clearance and its application for pre-qualification for e-auction of first batch of private FM Radio Channels (Phase – III) was rejected on ground that two of its shareholders had been prosecuted under Prevention of Money Laundering Act, impugned decision denying security clearance to petitioner company was to be quashed as those two shareholders were not directors in petitioner company and controlling interest vested with othe