The Committee of Creditors of Reliance Communications Limited (“RCOM”) at its meeting held on November 20, 2019 refused to accept the resignation of Anil Ambani and four others from their position as Director of the company.
Last week, Anil Dhirubhai Ambani had resigned from his position as Director of Reliance Communications, along with four others Directors – Smt. Chhaya Virani, Smt. Ryna Karani, Smt. Manjari Kacker and Shri Suresh Rangachar. The resignations were put up to The Committee of Creditors of the Company for their consideration.
The committee has presented a unanimous view that the resignations cannot be accepted. The committee has instructed the Resolution Professional to convey to the concerned Directors to continue with their duties and responsibilities and provide all cooperation in the corporate insolvency resolution process till its completion.
Reliance Communications Limited is under corporate insolvency resolution process and with effect from June 28, 2019, its affairs, business and assets are being managed by, and the powers of the board of directors are vested in, the Resolution Professional, Mr. Anish Niranjan Nanavaty, appointed by Hon’ble National Company Law Tribunal, Mumbai Bench.
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