Anil Ambani resigns as Reliance Communications director

Our Bureau | | Updated on: Nov 16, 2019
image caption

Anil Ambani has resigned as the director of Reliance Communications. The move comes even as lenders to the telecom company are looking to sell RCom assets. The company is now being managed by a resolution professional. 

Ambani's resignation marks the end of his telecom ambitions. Anil had got the telecom venture as part of an agreement with his elder brother Mukesh Ambani to settle a family dispute between the two. Mukesh later started his own telecom venture, Reliance Jio, which is now one the largest telecom players in the country. 

RCom had shut down its mobile operations after being unable to pay dues of over Rs 33,000 crore. Reliance Jio is one of the players interested in acquiring RCom assets through the IBC-led insolvency process. 

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

Read the document here

Published on November 16, 2019

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you