Loop Telecom yesterday (May 29, 2012) took the government and Telecom Regulatory Authority of India ( TRAI) before the sector's tribunal TDSAT seeking refund of Rs1,454 crore paid for 2G licence and sought Rs1,000 crore damages for loss of reputation after its cancellation.
In its petition, Loop Telecom 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 UASLs and the subsequent allocation of the spectrum are wholly and absolutely attributable to the acts and omissions of the respondent (Department of Telecom ( DoT) & 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 had to pay a very heavy price' and requested for 'compensation of Rs1,000 crore for loss of reputation' along with 12% interest.
A TDSAT bench headed by its Chairman Justice S B Sinha issued notice to the DoT and TRAI.
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.
....more info
In its petition, Loop Telecom 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 UASLs and the subsequent allocation of the spectrum are wholly and absolutely attributable to the acts and omissions of the respondent (Department of Telecom ( DoT) & 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 had to pay a very heavy price' and requested for 'compensation of Rs1,000 crore for loss of reputation' along with 12% interest.
A TDSAT bench headed by its Chairman Justice S B Sinha issued notice to the DoT and TRAI.
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.
....more info