Loop Telecom has moved to the telecom tribunal, seeking refund of entry fee paid for acquiring telecom licences, release of performance bank guarantees and damages for tarnishing reputation, totalling over
Rs4,700 crore from the government. The same is in relation to the supreme courts’ decision of quashing 122 licenses of the operators.
The Telecom Disputes Settlement and Appellate Tribunal ( TDSAT) issued notices to the communications ministry and sector regulator Trai on Monday and set July 17 as the next date of hearing.
Loop Telecom's Mauritius-based investors, Capital Global and Kaif Investment, have invoked the India-Mauritius bilateral investment treaty, making it the third company to threaten international arbitration after Norway's Telenor and Russia's Sistema, if the government was not able to resolve the matter amicably within six months.
....more info
Rs4,700 crore from the government. The same is in relation to the supreme courts’ decision of quashing 122 licenses of the operators.
The Telecom Disputes Settlement and Appellate Tribunal ( TDSAT) issued notices to the communications ministry and sector regulator Trai on Monday and set July 17 as the next date of hearing.
Loop Telecom's Mauritius-based investors, Capital Global and Kaif Investment, have invoked the India-Mauritius bilateral investment treaty, making it the third company to threaten international arbitration after Norway's Telenor and Russia's Sistema, if the government was not able to resolve the matter amicably within six months.
....more info