 "Sharp reduction in capex and an increase in operating profit led to a 49% jump in operating free cash flows on a sequential basis")
The Department of Telecom has cancelled letters of intent (LoIs) issued to 71 firms for providing internet service as virtual network operators, as per an official note issued on Friday.
The virtual network operator (VNO) permit allows firms to resell internet services of telecom companies under their own brand.
According to the DoT note, LoIs were issued to the firms based on applications submitted by them but the department has not received any reply from them even after extension of deadlines.
The applicant companies were required to submit the compliance status of LoI within a period of 60 days from the date of its issue, failing which the same was to be cancelled.
"No response to LoI has been received by this office till date. Further, few companies have sent the compliance after expiry of the validity period of the LoI," the note said.
Accordingly, LoIs issued in response to the application stand cancelled and the applications submitted by the companies for ISP authorisation under unified license are closed, it added.
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