Third phase of FM radio e-auction has begun today. The Information and Broadcasting ministry is conducting e-auction of 135 private FM channels in 69 cities. Official sources said 26 bidders participated in the process. Bidding is likely to go on for 15 days depending on the interest shown by bidders. The second batch of phase three will be decided once there is clarity of volume and number of players in the bidding process. <br/><br/>Earlier yesterday, Delhi High Court allowed Red FM to participate in Phase III of FM Radio Auction. The High Court quashed government's decision denying security clearance to Red FM and rejected their application to participate in the Auction.