Govt to negotiate over licence cancellation litigation

Sector regulator the Department of Telecommunications (DoT) will meet with officials from Capital Global and Kaif Investment Ltd, the Mauritian shareholders of Loop Telecom and Loop Mobile, regarding a legal dispute over the cancellation of Loop Telecom’s operating licences by the Supreme Court in February 2012. The Business Standard writes that the two companies have launched litigation against the Indian government, claiming that the Mauritian companies’ investment in the telcos was protected by the bilateral investment protection treaty signed between India and Mauritius. Loop’s backers have agreed to withdraw their case if the government settles the dispute either with them directly, or with Loop.