Tag: anil ambani

Four people, including Anil Ambani, chairman of the bankrupt closed telecom company Reliance Communications (R-Com), have resigned as directors of the company. According to the quarterly results released on Friday, the company had a loss of more than 30 thousand crores. This is the second largest loss in corporate history after Vodafone-Idea.

The private sector is facing tremendous recession these days. The impact of the economic slowdown on many multinational companies is clearly visible. Reliance Communications (RCom), one of the country's leading companies, is also not untouched by this. Debt-ridden Reliance Communications (RCom) has a consolidated loss of around Rs 30,142 crore in the July-September quarter. In view of the decision on the statutory arrears by the Supreme Court, the company's losses have reached such a high level due to the provision for liabilities.

Anil Ambani, owner of Reliance ADAG Group, has been sued by three Chinese banks for Rs 48.53 billion (680 million Dollar). These banks have said that Anil Ambani's closed company Reliance Communication had taken a loan of Rs 66.03 billion ($ 925.5 million) in 2012, which was defaulted in 2017.