Loop Telecom approaches TDSAT seeking refund of licence fee

Seeks refund of Rs 1,454 crore paid for 2G licence, Rs 1,000 crore for loss of reputation

today took the government and before the sector's tribunal seeking refund of Rs 1,454 crore paid for and sought Rs 1,000 crore damages for loss of reputation after its cancellation.

In its petition, has submitted that the Supreme Court has cancelled the UASL license issued to it by the government under its "flip flop' first-come-first-serve policy and it had to suffer a huge loss.

"The reason for quashing the first-come-first-serve policy, the and the subsequent allocation of the spectrum are wholly and absolutely attributable to the acts and omissions of the respondent (& Trai) and as a direct proximate result thereof, the petitioner has suffered huge losses and damages," submitted Loop in the petition.

It further alleged that due to, "faulty issuance of license and the policy flip-flops of the government, Loop has had to pay a very heavy price" and requested for "compensation of Rs 1,000 crore for loss of reputation" along with 12% interest.

A bench headed by its Chairman Justice S B Sinha issued notice to the Department of Telecom (DoT) and Telecom Regulatory Authority of India.

The tribunal has asked the and to file their reply within four weeks and posted the matter on July 17 for next hearing.

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Business Standard
177 22
Business Standard

Loop Telecom approaches TDSAT seeking refund of licence fee

Seeks refund of Rs 1,454 crore paid for 2G licence, Rs 1,000 crore for loss of reputation

Press Trust of India  |  New Delhi 

today took the government and before the sector's tribunal seeking refund of Rs 1,454 crore paid for and sought Rs 1,000 crore damages for loss of reputation after its cancellation.

In its petition, has submitted that the Supreme Court has cancelled the UASL license issued to it by the government under its "flip flop' first-come-first-serve policy and it had to suffer a huge loss.

"The reason for quashing the first-come-first-serve policy, the and the subsequent allocation of the spectrum are wholly and absolutely attributable to the acts and omissions of the respondent (& Trai) and as a direct proximate result thereof, the petitioner has suffered huge losses and damages," submitted Loop in the petition.

It further alleged that due to, "faulty issuance of license and the policy flip-flops of the government, Loop has had to pay a very heavy price" and requested for "compensation of Rs 1,000 crore for loss of reputation" along with 12% interest.

A bench headed by its Chairman Justice S B Sinha issued notice to the Department of Telecom (DoT) and Telecom Regulatory Authority of India.

The tribunal has asked the and to file their reply within four weeks and posted the matter on July 17 for next hearing.

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Loop Telecom approaches TDSAT seeking refund of licence fee

Seeks refund of Rs 1,454 crore paid for 2G licence, Rs 1,000 crore for loss of reputation

Loop Telecom today took the government and Trai before the sector's tribunal TDSAT seeking refund of Rs 1,454 crore paid for 2G licence and sought Rs 1,000 crore damages for loss of reputation after its cancellation.

today took the government and before the sector's tribunal seeking refund of Rs 1,454 crore paid for and sought Rs 1,000 crore damages for loss of reputation after its cancellation.

In its petition, has submitted that the Supreme Court has cancelled the UASL license issued to it by the government under its "flip flop' first-come-first-serve policy and it had to suffer a huge loss.

"The reason for quashing the first-come-first-serve policy, the and the subsequent allocation of the spectrum are wholly and absolutely attributable to the acts and omissions of the respondent (& Trai) and as a direct proximate result thereof, the petitioner has suffered huge losses and damages," submitted Loop in the petition.

It further alleged that due to, "faulty issuance of license and the policy flip-flops of the government, Loop has had to pay a very heavy price" and requested for "compensation of Rs 1,000 crore for loss of reputation" along with 12% interest.

A bench headed by its Chairman Justice S B Sinha issued notice to the Department of Telecom (DoT) and Telecom Regulatory Authority of India.

The tribunal has asked the and to file their reply within four weeks and posted the matter on July 17 for next hearing.

image
Business Standard
177 22

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