Anil Ambani's Resignation Rejected By Reliance Communications Lenders

According to a letter by RCom, the decision was taken in a meeting of the Committee of Creditors of Reliance Communications held on November 20.

Anil Ambani's Resignation Rejected By Reliance Communications Lenders

RCom lenders have appealed to the five directors to cooperate in the insolvency process

Mumbai:

Reliance Communications (RCom) lenders have rejected the resignations tendered by Anil Dhirubhai Ambani and four other directors, instructing them to continue holding their posts till the insolvency resolution process of the company is completed.

According to a letter by RCom on Sunday, the decision was taken in a meeting of the Committee of Creditors of Reliance Communications Limited held on November 20.

The RCom lenders have appealed to the five directors to continue in their positions and cooperate in the debt and insolvency process.

Apart from Mr Ambani, Ryna Karani, Chhaya Virani, Manjari Kacker, Suresh Rangachar had also resigned from their posts in the company.

"The Committee of Creditors of Reliance Communications Limited (RCOM) at its meeting held on November 20, 2019, considered the resignations tendered by the following directors and expressed a unanimous view that the resignations cannot be accepted," read the letter by the company's general secretary to stock exchanges BSE and NSE.

"It also instructed the Resolution Professional to convey to the directors to continue with their duties and responsibilities as directors and provide all cooperation in the corporate insolvency resolution process," it added.

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