Delhi High Court has today allowed RED FM to participate in the auction of First Batch of Private FM Radio Phase- III.
Reaffirming faith in the country’s judicial system RED FM, COO, Ms Nisha Narayanan, expressed her pleasure on the outcome of its court case on permission to participate in the auction of First Batch of Private FM Radio Phase – III Channels starting from 27 July.
Commenting on the judgement of the Hon’ble Delhi High Court today, she said that the Hon’ble Court has pronounced only the operating portion of the judgement. We feel that the Hon’ble court has accepted our submission that we have no connection with the reasons for denial of security clearance and rejection of our application.
Welcoming that the issue has been settled Ms Nisha Narayanan said that we will continue with auction as per our plans of bidding for more frequencies “We are one of country’s largest network of FM stations and hopefully post the final outcome of these auctions we shall retain our leadership status.”
From the beginning we had kept a sizeable money to be spent on these auctions (through which government stands to earn with go ahead on our participation). Our inclusion means a healthy competition and will benefit the entire FM radio industry and media and entertainment industry at large.
In phase 3 also we have plans of going ahead with the philosophy of nurturing not only commercially viable bigger metro cities but also reaching out to the last corner of the country. At the end of phase 2 we had highest number of stations in North East and tier 3 & 4 cities as a network. This is something which we will continue in phase 3 also. Having said that, RED FM not only reached to some of the smaller cities but also gave the local music and entertainment industry a voice. It always believed in being a socially active and relevant entertainment medium, creating employment opportunities for local youth specially women and become a voice of city wherever it operates its station. Bajaate Raho !!!