Anil Ambani has resigned as the director of Reliance Communications along with four other directors over the week from the debt-ridden company RCom, stated a filing
Mumbai: Anil Ambani has resigned as director of Reliance Communications, the debt-ridden company said in a filing on Saturday (November 16).
According to the filing, directors of Rcom Suresh Rangachar resigned on November 13, Ryna Karani resigned on November 15 and Ambani along with Chhaya Virani, and Manjari Kacker tendered his resignation on November 16.
Manikantan V had resigned from the post of director and chief financial officer (CFO) of Rcom on October 4, 2019.
"Your good office may also note that Shri Manikantan V, has also tendered his resignation as a director and Chief Financial Officer of the Company earlier. The aforementioned resignations shall be put up to the committee of creditors of the Company for their consideration," the filing added.
RCom, which is currently going through the insolvency process, has posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
Rcom reported a consolidated net loss of Rs 30,158 crore in its second quarter of financial year against loss of Rs 366 crore in the first quarter of the FY20. Sources stated the revenue declined to Rs 302 crore when compared to Rs 856 crore and EBITDA loss stood at Rs 66 crore versus EBITDA of Rs 60 crore, QoQ.
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Last Updated 16, Nov 2019, 5:36 PM