The regulator has invited stakeholder's comments by 16 September.
Vodafone Idea lost 1.56 million wireless subscribers during the same period.
Vaghela was addressing a conclave organised by IIT Kanpur and TSDSI.
The new tariff order brought by TRAI did not provide any benefit to the industry.
The TV9 CEO believes that this will destroy the news TV industry’s biz model.