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Anil Ambani resigns as RCOM’s director

November 18, 2019
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Anil Ambani has resigned as the director of Reliance Communications (RCOM). At present, the company is being managed by a resolution professional.

Along with Ambani, other directors of the company who have tendered their resignations are Chhaya Virani, Ryna Karani, Manjari Kacker and Suresh Rangachar.

The move comes after RCOM reported a consolidated loss of Rs 301.42 billion for the quarter ended (QE) September, 2019 due to provisioning of liabilities owed to the government.

RCOM’s assets such as spectrum and towers have started receiving bids under the insolvency process.

The company had shut down its mobile operations after being unable to pay dues of over Rs 330 billion.

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