The company operates in 21 circles. Mumbai will be in exception, which has a separate licence.
After Etisalat DB and S Tel, Loop is the third company to exit operations after a Supreme Court order to cancel 122 licences issued in 2008.
The company's Mumbai business, which was acquired from BPL Mobile, is not a part of this controversial allocation.
"Loop Telecom is in the process of complying with the directive of the Supreme Court of India dated February 2, 2012," the company said.
The company is known to
PHOTOS: 10 most-liked CEOs in the tech world
Digvijay calls Chouhan 'coward' for avoiding media
Summons through SMSes, e-mails valid: 2G case court
2G: Ruias, Khaitans exempted from personal appearance
India's civil-military relations: The threat within?