With the Ministry of Home Affairs refusing to provide security and some other clearance to 33 of its television channels, the Sun TV Network of Kalanithi Maran apparently is facing a deep crisis on Monday.
As per the Bombay Stock Exchange, shares of the firm plunged about 22 per cent and were trading at Rs. 267.30 in the morning that clearly reflected the apprehension of shareholders on the possibility of it’s broadcasting licence ‘being cancelled’ and the channels reportedly ‘going off air.’ Official sources state that the MHA had rejected a proposal of the Information and Broadcasting Ministry (I&B) to provide the clearance. The decision seems to have been more so influenced by the criminal cases that the Marans are facing from the CBI and the Enforcement Directorate (ED), the sources added. In September 2014, the Madras High Court set aside an order of the I&B Ministry cancelling the Multi System Operator licence to Kal Cables, a subsidiary of the Sun TV Network.
However, the High Court took the view that if the licence were to be cancelled for security reasons as cited in the I&B Ministry’s report, it is the licence of the broadcaster of TV channels that should be cancelled and not that of a distributor.
In the current situation, the MHA has refused clearance for the TV channels that may become an essential point if the media network decides to move the court. The company also informed the BSE that “no communication” has been received from any Ministry and “all our channels continue to be on air.”
Tags: Sun TV
