|Chennai||Rs. 28730.00 (1.13%)|
|Mumbai||Rs. 29740.00 (-0.13%)|
|Delhi||Rs. 29200.00 (0%)|
|Kolkata||Rs. 29350.00 (0%)|
|Kerala||Rs. 28000.00 (0%)|
|Bangalore||Rs. 28400.00 (0%)|
|Hyderabad||Rs. 28470.00 (-0.11%)|
Loop Telecom Tuesday said it is closing down services across the country except for Mumbai following the Supreme Court order cancelling 122 telecom licences issued in 2008.
In Mumbai, its sister concern Loop Mobile, offers services under a separate license.
"In compliance with the judgment dated Feb 24, 2012 passed by the Supreme Court in the matter of cancellation of UAS licenses issued on or after Jan 10, 2008, Loop Telecom will cease to operate its services under the UAS Licenses with effect from 1st June, 2012 or earlier on successful port out of all its subscribers," a company spokesperson said.
"Loop Mobile India Ltd, which has a separate license for providing services in Mumbai circle is not affected by the Supreme Court judgment and will continue with business as usual," it added.
The firm has also started helping customers port to other networks using mobile number portability.
The company, which has almost 150 direct employees, is also expected to soon give formal termination notices to them.
Loop Telecom has 2G licence for 21 circles but has operations only in 13 circles.