Sandip Basu replaces Chachondia as Loop Mobile chief

The chief executive officer of Loop Mobile and Loop Telecom, Sanjeev Chachondia, resigned on Monday for unknown reasons. In his place, the company has appointed Sandip Basu, so far managing director and chief executive of XCEL Telecom, as its new chief executive officer.

This would be Basu's second stint with the company, as he was formerly its group managing director and chief executive in its earlier avatar as BPL Mobile. He has also played notable roles with Fascel Ltd, Bharti Telecom, and Apollo Tyres.

Chachondia, who joined the company in late 2006, is credited with steering the brand change from BPL to Loop following the expiry of its brand-use agreement with the T P G Nambiar-promoted BPL Group.

He quit when Loop it is expanding operations to become a pan-India service provider. Loop Telecom has got licences and spectrum for all 21 circles in the country and recently rolled out its GSM operations in Kerala and Karnataka, after having had done so in Tamil Nadu and Orissa earlier.

However, though the company launched its services in Tamil Nadu and Orissa back in May, it is yet to register any subscribers in these circles, Telecom Regulatory Authority of India figures show. The launch is perceived by many to be an eye-wash to meet the roll-out obligations on paper.

Moreover, the ownership issue is also rocking the firm, which is under investigation on allegations that it is indirectly owned by the Ruia-controlled Essar group, which would be a violation of the rules.

According to the company, Basu will now be in charge of leading the national launch of Loop Telecom and further strengthening the position of Loop Mobile in Mumbai.