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Ambani refuses to resign

Reliance Communication (RCom) on Sunday said that it had rejected the resignation of Anil Ambani. Four other directors including Chaya Virani, Raina Karani, Manjari Kakar, Suresh Rangachar and CFO V. Manikanthan have recently resigned. The resignations were sent to the COC for consideration and were rejected by the BSE filing, according to RCom.

To this end, the COC said in a unanimous decision at its meeting on Tuesday. On this occasion, Arkham urged them to cooperate in the ongoing corporate insolvency process, assuming their duties as directors of Arcom. RCom posted a net profit of Rs 30,142 crore for the July-September quarter. This is the second highest loss by an Indian company to date. Vodafone-Idea has reported a loss of Rs 50,921 crore.

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