Asia Bizz: Indian telecom service provider Loop Telecom recently announced that it is in the process of shutting down its operations in India. The 2g licences of the company were among the 122 licences which were cancelled by the Indian Supreme court. It will remain unaffected in Mumbai, where it operates under its sister concern Loop Mobile.
A spokesperson of Loop telecom said that the company has no other option and it has already advertised shifting their customers on to other networks through mobile number portability (MNP). Moreover the company has also started the process of issuing job termination notice to all it employees after its plans to shut down its business in the country.
The spokesperson added that even the employees have been made aware and will soon be issued a formal notice. It was further revealed that the company has around 150 direct employees.
Earlier the company had 2G telecom license for 21 circles and operated in 13 circles. Loop Telecom also had largest subscriber base of over 2,300 subscribers in Kolkata and 965 subscribers in Odisha by the end of February 2012. Loop was formerly known as BPL Mobile and is one of the country’s oldest mobile telecom service provider. The company was established in the year 1994 and started its operations in the year 1995.