Anil Ambani
Anil Ambani
PTI Photo/ Shahbaz Khan

New Delhi: Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process, according to a regulatory filing. The chief financial officer of the debt-ridden company Manikantan V has also resigned, the filing said. "Shri Anil D Ambani, Smt. Chhaya Virani, Smt. Manjari Kacker have tendered their resignation as Director of Company on November 15th, 2019," the filing said. Ryna Karani and Suresh Rangachar tendered their resignations on November 14 and November 13, 2019 respectively.

The development comes a day after RCom 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. This was the second highest loss posted by any Indian corporate till date.

Ambani was once in the world's top 10 rich persons list but now the company is struggling to even sell assets for the recovery of dues. The company, which is going through insolvency process, had made a profit of Rs 1,141 crore in the corresponding three months a year ago.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal

www.freepressjournal.in