Sale of 21 MTNL land assets hits roadblock as DoT refuses to give up funds

DoT unwilling to part with the funds garnered, as mandated by DDA

Sale of 21 land assets of the Mahanagar Telephone Nigam (MTNL) has hit a roadblock as the Department of Telecommunications (DoT) is unwilling to part with the funds garnered, as mandated by the Delhi Development Authority (DDA).
 

“We have to give 50 per cent of the amount from the sale to DDA, it is a mandate. Then there would be a capital gains tax, spectrum usage charges, and licence fee. We’ll be left with virtually nothing,” an official told Business Standard.
 

The department is currently negotiating with the DDA for some relaxation.
 

These land assets of MTNL are marque properties