New Delhi: Reliance Communications on Sunday stated that the resignation letters of company chairman Anil Ambani and four other directors namely Ryna Karani, Chhaya Virani, Manjari Kacker and Suresh Rangachar were rejected by the lenders. It must be noted that Ambani and the four others had resigned from Reliance Communications earlier in November 2019.
A Committee of Creditors (CoC) had on November 20 unanimously rejected the resignations during a meeting. After rejecting the resignation, the lenders of Reliance Communications had asked the top officials to cooperate in the ongoing corporate insolvency resolution process.
In a BSE filing, RCom was quoted by news agency PTI as saying, “It is being duly communicated to the aforesaid directors of RCom that their resignations have not been accepted and they are advised to continue to perform their duties and responsibilities as the directors of RCOM and provide all cooperation to Resolution Professional in the corporate insolvency resolution process.”
RCom had posted a consolidated loss of Rs 30,142 crore for the September 2019 quarter due to provisioning for liabilities after the Supreme Court’s ruling on statutory dues. This had marked the second-highest loss posted by any Indian corporate till date, after Vodafone Idea Ltd’s Rs 50,921 crore losses.
During July-September 2019, RCom set aside Rs 28,314 crore on account of provisioning following the Supreme Court order on the calculation of annual adjusted gross revenue (AGR) of telecom companies.
(With inputs from PTI)