Telecom Lead India: A TDSAT bench headed by its Chairman
Justice S B Sinha has issued notice to the Department of Telecom (DoT) and TRAI
after Loop Telecom sought refund of Rs 2,454 crore.
The tribunal has asked the DoT and TRAI to file their
reply within four weeks and posted the matter on July 17 for next hearing.
Loop Telecom has sought refund of Rs 1,454 crore paid for
2G licence and sought Rs 1,000 crore damages for loss of reputation after its
In its petition filed against the government and TRAI
before the sector’s tribunal TDSAT, Loop Telecom has submitted that the company
suffered huge loss.
“The reason for quashing the first-come-first-serve
policy, the UASLs and the subsequent allocation of the spectrum are wholly and
absolutely attributable to the acts and omissions of the respondent (DoT &
TRAI) and as a direct proximate result thereof, the petitioner has suffered
huge losses and damages,” submitted Loop in the petition.
Due to faulty issuance of license and the policy
flip-flops of the government, Loop Telecom has had to pay a very heavy price.
It requested for compensation of Rs 1,000 crore for loss of reputation along
with 12 percent interest.
Loop Telecom gross revenue up 0.4% to Rs 178.04 crore in Q3
Loop Telecom, which lost its 21 licenses in the February
Supreme Court verdict, has posted gross revenue of Rs 178.04 crore for the
quarter ended 31, December 2011, up 0.4 percent against Rs 177.33 crore for the
quarter ended 30, September 2011.
For the quarter ended 31 December 2010, Loop’s gross
revenue stood at Rs 179.81 crore. During the quarter ended 31, December 2011,
Loop’s subscriber base recorded at 3.24 million with 0.35 percent market share,
which includes around 32,50,000 subscribers in its Mumbai operations.