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BRIEF-ZTE says begins legal proceedings against India's Loop Mobile over unpaid dues
May 14, 2014 / 1:27 PM / 4 years ago

BRIEF-ZTE says begins legal proceedings against India's Loop Mobile over unpaid dues

NEW DELHI, May 14 (Reuters) - ZTE Corp

* Says initiates arbitration proceedings against India’s Loop mobile for recovery of unpaid dues

* Says dues worth $25 million from Loop, approached the high court in Mumbai to grant interim measure of protection for securing the outstanding amount

* Says was not informed of loop’s agreed deal to transfer subscribers to Bharti Airtel

* Says has requested court to order attachment of all sums payable by Bharti Airtel to Loop, to restrain loop from selling its business to any party without court permission Further company coverage:

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