Anil Ambani quits as Chairman of bankrupt RCom

New Delhi: Anil Ambani has resigned as director of the bankrupt Reliance Communications (RComm), thus ceasing to be the chairman of the mobile phone company he had led since 2006.

“Reliance Communications has been admitted under the Insolvency and Bankruptcy Code since May 15, 2018. The resolution professional has been in control of the company and the board has been superseded,” Ambani said in his resignation letter dated November 15 to the board of directors of RCom and to Ashish Nanavaty, the resolution professional from Deloitte running the telco’s insolvency process. “The resolution of Reliance Communications Ltd is now imminent under the NCLT process. In light of these developments, I hereby tender my resignation as director of Reliance Communications Ltd, with immediate effect. Let me take this opportunity to thank all the directors for their longstanding support.”