NTA decides to revoke Smart Telecom’s license and seize control of the company’s assets

KATHMANDU: Smart Telecom’s license has been automatically canceled after failing to pay billions of government dues and renewal fees. Along with this, Nepal Telecommunication Authority, the regulator of the telecommunication sector, has advanced the process of asset management of the company.

One of the NTA’s top officials confirmed that the regulator had decided to revoke Smart Telecom’s license after conducting necessary task.

In accordance with the Asset Management Regulations of Telecommunication Service Providers whose license is not valid, 2079 BS, the authority’s board of directors decided to seize control of the business on Monday. For managing the property of telecommunication service providers without licenses, the government had previously issued the Property Management Regulations of Telecommunication Service Providers, 2079 BS.

In accordance with Rule 9, Sub-rule 1 of the regulation, it has also been decided to give Smart Telecom the order to turn over the Authority’s telecommunication infrastructure, structure, system, and network. The license for Smart Telecom’s basic telephone service was granted on the second of Baisakh 2070 BS, and its term ended on the second of Baisakh 2080 BS.

Smart is required to pay close to Rs 28 billion rupees for the remodeling under the current legal framework. Since the license of the business that was unable to pay that sum could not be renewed, it was automatically revoked.

In this instance, the decision was made by the authority to manage the business in accordance with the asset management rules. Additionally, in accordance with the same regulation, Smart Telecom has been given permission to continue providing telecommunications services for up to 15 days.

The source of authority also disclosed that it was decided to inform the management group established in accordance with sub-rule 1 of rule 37 of the regulation in order to move forward with the procedure for the necessary work as per rule 37.

Fiscal Nepal |
Monday April 17, 2023, 04:14:34 PM |

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