What are The Documents Required to Start News Agencies in India4 min read
The news agency is the window through which all people try to see the world through educated eyes. For many, it has paved the way towards success, but for some, it has paved the way for communal destruction. These extreme factors are a testament to the power of news agencies in India.
Thankfully, the Government of India is willing to give anyone with the financial and technical capabilities a chance to start their own agency to dispense news material. In this article, we are going to take a look at each and every document required to do so.
Application Processing Fee
Broadcastsewa, the portal that facilitates the online registration of news agencies, take great pains to collate the applications and send them to the appropriate professionals for assessment. Furthermore, the officials have to assess the application at several levels.
Needless to say, assessment of the application is a time, and cost intensive affair. Thus, the first document you need to provide is the receipt of the application processing fee of INR 10,000/- deposited via the Bharat Kosh Portal.
Application Forms For Uplinking and Downlinking
News agencies can only distribute their programs via the satellite and therefore, need the permission to uplink their earth station to the satellite and downlink the satellite to the earth stations. Both of these tasks require different permissions and ergo, different permission forms:
- Form 1A & Form 1C is for uplinking
- Form 1A & Form 1B is for downlinking.
Affidavit of Agreeing to The Terms and Conditions
The applicant must provide in written that it agrees to abide by all the rules specified by the Ministry of Information and Broadcasting pertaining to the operation of a news agency. Thus, copy of an affidavit that entails this written statement has to be deposited to the MiB.
Shareholding Patterns of The Company and The Investors
The applicant must provide the shareholding patterns of the company and the investors in proper tabular forms. They have to be in such a way that the ministry officials don’t need to scratch their heads understanding the details.
Simply put, you need to be concise and follow the prescribed formats to provide the details of the aforementioned shareholding patterns.
Certificate of Registration of The Company
Only a Company is allowed to apply for the News Agency Registration in India. Thus, along with Form 2 & 5 of the application, it’s imperative that the application provides a copy of RNI Registration.
Memorandum and Articles of Association
Memorandum of Application of Company detail the objective of the business entity –n the primary reason for which the company is incorporated. The applicant’s MOA must specify that providing news agency services is the primary objective of the company.
Additionally, Articles of Association – specifying the code of conduct the company adheres to – also need to be submitted to the MiB.
List of Directors and Key Executives of the company
The applicant must provide, in a prescribed format, a list of directors and key executives of the company. Only names won’t suffice, the applicant must also provide their designation and briefly describe their role within the news agency.
Details of The Directors
Applicant must draft a file containing the bio-data & Photo ID proof of each directors.
Applicant must draft a specific documents that details the following about the majority shareholders of the company:
- Contact number
- Equity held in terms of amount
- Equity held in terms of percentage
Balance Sheet of The Past 3 Years
Balance sheet of the applicant company, showing its transactional details up to 3 years before the date of application filing must also be provided to the Ministry.
Profit and Loss Statement for The Past 3 Years
Applicant must furnish a Profit and loss statement, covering profit and loss details for up to three years before the date of application filing.
Calculation Sheet of The Foreign Equity
If the applicant has foreign equity within the company, it must furnish a sheet in which the foreign equity is calculated.
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Remember that the applicant must take care of both the direct and indirect foreign investment. Furthermore, the company also needs to provide copy of FIFB approval.
Net Worth Certificate and Certified balance sheet from statutory auditors
The applicant must let a statutory auditor certify the net worth certificate and the balance sheet before submitting them to MiB.
Auditors Report For Past Three Years
The applicant must appoint an external auditor to assess the operational and financial aspects of the company. For three years, said auditor will maintain an auditor report. The applicant must submit that report to the Ministry of Information and Broadcasting.
Loan and Shareholders Agreement
if the applicant has signed any loan or shareholders agreements, then it must submit copies of them to the MiB.
Satellite Lease Agreement
News agencies require to lease a satellite transponder for uplinking. Thus, the applicant must provide a copy of satellite lease agreement alongside the details of the footprint(s) of the satellite and maps.
Technical Specification of The Equipment
Applicant must furnish a file detailing the technical specification of every equipment that is going to be used in the news agency.
Copy of The Block Schematic Diagram of Downlinking and Distribution
A copy of the schematic diagram of downlinking and distribution systems with provisions that entail 90 days of recording.
Project report of the news agency
List of Enclosures For Uplinking
Uplinking permission requires a separate set of documents. The applicant must provide them as well.
PIC Accreditation Card
News agency must be accredited by PIB for filing the application. Thus, the applicant must also present its PIB accreditation card.
A fixpoint chart is a schedule of programs that the applicant will run on their news channel.
With these documents required to start news agencies in India, you’ll take the first step to start your own news agency. For any assistance pertaining to this matter, consult with Registrationwala.