The Ministry of Corporate Affairs (MCA) has asked the communications and IT ministry to reconsider granting a telecom licence to Loop Telecom in which the Essar Group holds some stake.

The Ministry of Corporate Affairs (MCA) has asked the communications and IT ministry to reconsider granting a telecom licence to Loop Telecom in which the Essar Group holds some stake. Last year, the communications and IT ministry had asked the MCA to investigate the ownership and shareholding pattern of Loop Telecom, following complaints from certain sections of the telecom industry that the Essar Group’s holding in the company violated telecom licensing laws.