Anil Ambani, Chairman of the Reliance Anil Dhirubhai Ambani Group
Anil Ambani, Chairman of the Reliance Anil Dhirubhai Ambani Group

Anil Dhirubhai Ambani has resigned as the director of Reliance Communications, according to an official statement from the debt-ridden company.

According to the filing, Chhaya Virani, Manjari Kacher, Ryna Karani, and Suresh Rangachar have also resigned from their respective positions of directors, the company said in a release to the Bombay Stock Exchange on Saturday.

According to the release, Ambani, Virani, and Kachar put their papers from the office of director on November 15, Karani resigned as director on November 14. The other director Suresh Rangachar resigned on November 13.

Previously, on October 4, Manikantan V has given in his resignation as director and chief financial officer (CFO) of the company.

“The mentioned resignations shall be put up with the committee of creditors of the Company for their consideration,” the company said.

After the approval of the committee of creditors, further disclosures will be made to stock exchanges, the company said in the release.

Reliance Communications shares closed at Rs0.59 on Friday, down Rs 0.02, or falling by 3.28%. It has touched a 52-week low of Rs 0.58.

Currently, Reliance Communications is going through the insolvency process and has reported a consolidated loss of Rs 30,142 crore for the second quarter due to provisioning for liabilities after the Supreme Court ruling on statutory dues.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here