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
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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