RCom’s committee of creditors to meet on Nov 20

Reliance Communications’ Committee of Creditors (CoC) will hold a meeting on November 20, the company said in a regulatory filing on Tuesday. Last week, Reliance Communications Chairman Anil Ambani along with four directors had resigned from the company, that is going through insolvency process.

The company posted a consolidated loss of Rs 30,142 crore for September 2019 quarter due to provisioning for liabilities after the Supreme Court ruling on statutory dues. This had marked the second highest loss posted by any Indian corporate till date, after VIL’s Rs 50,921 crore losses. “… we wish to inform you that the 11th meeting of Committee of Creditors of Reliance Communications Limited is scheduled to be convened onWednesday, November 20, 2019,” RCom said in a BSE filing.