Anil Ambani resigns as director of debt-ridden RCOM

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Anil Ambani has resigned from the post of director of Reliance Communication (RCOM), who is in debt. In addition to Anil Ambani, four major RCom officials have also resigned. Apart from Anil Ambani, Chhaya Virani, Rai Karani, Manjri Kakar and Suresh Rangachar have also resigned.

Anil Ambani, Chhaya Virani and Manjri Kakar resigned on November 3, while Rai Karani resigned on November 3, Suresh Rangchare on November 3.

The results of the second quarter of RCom were announced on Friday. According to the news agency PTI, the company suffered a loss of Rs 5 crore in the July-September quarter.

The company, which has gone through insolvency, made a net profit of Rs 1 crore in the same quarter last fiscal. On the other hand, in the July-September quarter of this year, the company's revenue fell to Rs. 1 crore. That was Rs 1 crore in the same period last year. Currently, one stock of RCOM is trading at Rs.

The quarterly results revealed that the company has made a provision of Rs.

The amount paid to RCOM to the telecom department includes a license fee of Rs 1 crore and a spectrum usage fee of Rs 1 crore. The telecom companies filed a case against the amount demanded to be paid to the telecom department. However, the Supreme Court has also ruled in favor of the telecom department. As a result, the telecom companies will have to pay the balance in any case.