One of the first private telecom / mobile companies in India, Loop Mobile ( former BPLMobile), will close its services by midnight today, 29th November 2014. This is because it has not renewed its licence which is ending today. There was a proposal of the company being acquired by Bharti Airtel, but it was called off after failure to get regulatory approval.
BPL, the original company, was formed 20 years ago by the present Rajya Sabha M.P., Rajeev Chandrasekhar. It is not known what will happen to the existing subscribers of Loop Mobile.
This is what happens to the private companies. The subscriber requirement is not its concern. IT IS ONLY PROFIT AND LOSS.