CNBC-TV18 learns that Loop Mobile has written to the Prime Minister and other top ministers saying that they will not file a review petition challenging the Supreme Court order on license cancellation. Loop also goes on to say that they will not seek compensation for its Rs 2,000 crore investment. Siddharth Zarabi, economic policy editor at CNBC-TV18 reports in detail.
He says that it is not a statement that the company has made, but rather a letter that was written by the CEO of Loop Mobile Sandip Basu on February 17, exactly two weeks after the Supreme Court order canceling the licenses.
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