Swami Films Entertainment run Free to Air (FTA) Hindi Movie channel Movie Plus is finding it difficult to furnish the required bank guarantee under the deferred payment scheme permitting 67% monthly payment. The broadcaster is facing financial problem in arranging the entire next installment falling due on 27th June.
The broadcaster prayed to TDSAT for some more time to arrange funds but the tribunal rejected the plea. Prasar Bharati pointed out that the absence of adequate bank guarantee would put its financial interest in jeopardy. It submitted that even for seeking more time to arrange funds for the next installment it first has to ensure security by the way of bank guarantee.
The tribunal noted that it already covered the aspects and its last order had covered the same. TDSAT noted that Movie Plus would have to furnish security or persuade Prasar Bharati by filing representation highlighting policy of the Government extending relaxation in GST or other facilities which would be upto Prasar Bharati to consider sympathetically.
The tribunal refused to give the broadcaster any more further relaxation beyond what was already ordered on the last hearing. It further noted it expected that benefits of financial health should be made available to all concerned in a fair manner.
