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Business News/ Industry / Telecom/  Loop Telecom seeks Rs2,231 crore as 2G spectrum licence fee refund
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Loop Telecom seeks Rs2,231 crore as 2G spectrum licence fee refund

The Supreme Court had in 2012 cancelled 122 telecom licences and spectrum allocated to 9 companies in 2008, citing flawed allocation process

Loop claimed in its petition that since the licences were quashed due to flawed policy of the government, the company is entitled to restitution of its entry fee for the licence. Photo: AFPPremium
Loop claimed in its petition that since the licences were quashed due to flawed policy of the government, the company is entitled to restitution of its entry fee for the licence. Photo: AFP

New Delhi: Loop Telecom moved the Supreme court on Friday seeking a refund of the licence fee that the telco lost following the court’s cancellation of 2G spectrum licences in 2012.

Loop is seeking 2,231 crore including interest.

The Supreme Court had on 2 February 2012 cancelled 122 telecom licences and spectrum allocated to nine companies in January 2008, saying the process of allocation was flawed. Twenty-one of those licences belonged to Loop Telecom.

Loop has sought a refund of entry fee that it paid in 2008 amounting to 1,454.94 crore plus interest.

“Since the licences bundled with spectrum were valid for 20 years and were quashed due to flawed policy of first-come-first-served of the government, the company is entitled to restitution of its entry fee for the licence," Loop claimed in its petition.

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Published: 26 Feb 2016, 10:00 PM IST
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