Loop Telecom has submitted an affidavit to the Supreme Court proposing that its all-India telecom licence and corresponding spectrum be auctioned, according to news reports.

The company, whose association with the Essar group is being investigated by government authorities, has asked the court to allow it to bid in the proposed auction or to be refunded the Rs 14.54 billion it paid for the spectrum, provided the highest bid exceeds that amount.

The affidavit adds that Loop should also have the option of matching the highest bid to preserve its investments.

Loop Telecom runs operations all over India with the exception of Mumbai, where sister concern Loop Mobile has had operations since 1995. Loop Telecom received its licence in 2008 along with other players currently being investigated in relation to the 2G spectrum issue.

Loop is amongst the companies that face possible licence cancellations for being awarded airwaves unfairly and then having allegedly failed to meet rollout conditions in the license.