Telecommunication & Retail
Khaitan Holdings Mauritius Ltd (KHML)
KHML is Khaitan Holdings Group holding company based in Mauritius for the Telecom operation. The company is managed by an independent board professional and based out of Port Louis, Mauritius. Reputed Lawyer Mr. Jason Harel from BLC Chambers is the Chairman of the board of the company.
Khaitan Group has initiated an international arbitration against the Government of India claiming refund of its investments in India. The Arbitration has been initiated on the basis of the treaty entered into between the Government of India and Mauritius. As per the treaty, a Mauritian investor can seek recourse to arbitration for protection of its investment in India. Khaitan Holdings investment qualifies as an eligible investor under this Treaty. The Khaitan Group has appointed Vinson & Elkins RLL, London (“V&E”) as its legal counsel for this arbitration.
Loop Mobile started its operations in 1995 as BPL Mobile. It was owned by Hon’ble Member of Parliament Shri Rajeev Chandrasekhar. Subsequent to the change of shareholding in 2004, the Khaitan Holdings Group took ownership control. In 2009 the brand name changed from BPL Mobile to Loop Mobile and since then providing the services in Mumbai city. Loop Mobile had over 3.5 million subscribers base during its operation in peak. As per Brand Trust report 2011, India conducted by TRA Research, Loop Mobile was ranked 4th amongst telecom operators and 62nd ranking at the All India Brand Trust amongst 16000 national brands.
Khaitan Group had entered into an agreement with Bharti Airtel, India for the sale of assets and subscriber base of Loop Mobile during June 2014. However, due to Indian Telecom regulatory issues the sale could not be completed and in the month of November, 2014 the license issued to Loop Mobile expired.