In the list of winding up Telecom firms following Supreme Court ruled to cancelled 122 licences, name of Loop Telecom is now going to be added.

The company asked all its GSM customers to port out by April 30 because it is going to completely stop operations by May 15.

Verdict delivered by Supreme Court verdict in February has caused a large amount of liquidation of operators as Loop’s statement stated, “Loop Telecom is in the process of complying with the directive of the Honorable Supreme Court of India.” Read the rest of this entry…

The Patiala House Court in Delhi has granted Loop Telecom and Essar Group promoters’ exemption from personal appearance after their lawyers appeared in place of them before the court today in connection with the 2G case.

It is of second time that the promoters of Loop and Essar Group were not appeared before court for hearing.

Hesitating to be appearing in court, Ravi Ruia and Anshuman Ruia, promoters of Essar, I P Khaitan and Kiran Khaitan, promoters of Loop Telecom, and Vikas Saraf, Director (Strategy and Planning), Essar, are again issued summons for personal appearance by the court. Read the rest of this entry…

Today Essar Group and Loop Telecom promoters to whom CBI accused and filed a charge sheet under the 2G spectrum scam, will be appear before a special CBI court on basis of trial issued by the court.

Ravikant Ruia and Anshuman Ruia are the Essar Group’s promoters and along with them Loop Telecom promoter Kiran Khaitan, I P Khaitan and Strategy and Planning director of Essar Group Vikas Saraf , all names had been listed in the third chargesheet filed by CBI in 2G scam on 12 December last year. Read the rest of this entry…