{"id":1445,"date":"2019-11-24T20:32:43","date_gmt":"2019-11-24T20:32:43","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/11\/24\/rcom-lenders-say-anil-ambani-directors-cant-step-down\/"},"modified":"2019-11-24T20:32:43","modified_gmt":"2019-11-24T20:32:43","slug":"rcom-lenders-say-anil-ambani-directors-cant-step-down","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/11\/24\/rcom-lenders-say-anil-ambani-directors-cant-step-down\/","title":{"rendered":"RCom, lenders say Anil Ambani, directors can&#8217;t step down"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden size-full wp-image-1773980\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/11\/1-854.jpg\" alt=\"Anil Ambani\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/1-854.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/1-854-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/1-854-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/1-854-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"size-full wp-image-1773980\" src=\"https:\/\/images.financialexpress.com\/2019\/11\/1-854.jpg\" alt=\"Anil Ambani\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/1-854.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/1-854-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/1-854-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/1-854-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">Anil Ambani<\/span><\/figure>\n<\/div>\n<p><a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/reliance-communications-ltd-stock-price\/\" rel=\"noopener noreferrer\">Reliance Communications<\/a> said on Sunday lenders have rejected the resignations of chairman Anil Ambani and four other directors and asked them to cooperate in the ongoing corporate insolvency resolution process. Ambani, together with four directors \u2014 Ryna Karani, Chhaya Virani, Manjari Kacker and Suresh Rangachar \u2014resigned from the company earlier this month.<\/p>\n<p>RCom said, in an exchange filing, its committee of creditors (CoC) had met on November 20 and expressed a unanimous view that the resignations cannot be accepted.<\/p>\n<p>The CoC has asked the resolution professional (RP) to convey to RCom\u2019s directors they should continue with their duties and responsibilities as directors and cooperate in the insolvency resolution process at least till its completion.<\/p>\n<p>Since June 28, 2019, RCom\u2019s affairs, business and assets are being managed by, and the powers of the board of directors are vested in, the RP Anish Niranjan Nanavaty, appointed by National Company Law Tribunal (NCLT), Mumbai.<\/p>\n<p><img decoding=\"async\" class=\"lazy lazy-hidden alignnone size-full wp-image-1773979\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/11\/1-853.jpg\" alt=\"\" width=\"348\" height=\"420\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/1-853.jpg 348w, https:\/\/images.financialexpress.com\/2019\/11\/1-853-166x200.jpg 166w, https:\/\/images.financialexpress.com\/2019\/11\/1-853-342x413.jpg 342w, https:\/\/images.financialexpress.com\/2019\/11\/1-853-221x267.jpg 221w\" sizes=\"(max-width: 348px) 100vw, 348px\"\/><\/p>\n<p><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1773979\" src=\"https:\/\/images.financialexpress.com\/2019\/11\/1-853.jpg\" alt=\"\" width=\"348\" height=\"420\" srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/1-853.jpg 348w, https:\/\/images.financialexpress.com\/2019\/11\/1-853-166x200.jpg 166w, https:\/\/images.financialexpress.com\/2019\/11\/1-853-342x413.jpg 342w, https:\/\/images.financialexpress.com\/2019\/11\/1-853-221x267.jpg 221w\" sizes=\"(max-width: 348px) 100vw, 348px\"\/><\/noscript><\/p>\n<p>The insolvency proceedings follow an application filed by Swedish telecom gear maker Ericsson. The NCLT has directed the RP to conclude the sale of RCom\u2019s assets by January 10, 2020. The last date for submitting bids is November, 25; the earlier deadline of November 12 was extended at the request of RelianceJio.<\/p>\n<p>The stressed telco\u2019s total debt to financial creditors stands at Rs 51,141 crore with the secured debt estimated at Rs 33,000 crore. Lenders had submitted claims of around Rs 49,000 crore in August.<\/p>\n<p>RCom\u2019s total liability includes Rs 23,327 crore worth of licence fees and Rs 4,987 crore on account of spectrum usage charges. RCom posted a consolidated loss of Rs 30,147 crore for the September 2019 quarter, providing, like peers <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/bharti-airtel-ltd-stock-price\/\" rel=\"noopener noreferrer\">Bharti Airtel<\/a> and Vodafone, for liabilities on statutory dues to the tune of Rs 28,314 crore.<\/p>\n<p>The SC on October 24 ruled on annual adjusted gross revenue of telecom companies, upholding the government\u2019s method of calculation. Due to the provisions for the liabilities, <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/vodafone-idea-ltd-stock-price\/\" rel=\"noopener noreferrer\">Vodafone Idea<\/a> posted a loss of Rs 50,922 crore in Q2FY20, the biggest quarterly loss in India\u2019s corporate history, while Bharti Airtel reported a consolidated net loss of Rs 23,045 crore.<\/p>\n<p>RCom has put all its assets for sale, including spectrum holding of 122 MHz estimated to be around Rs 14,000 crore, towers business for Rs 7,000 crore, optical fibre network Rs 3,000 crore and data centres worth Rs 4,000 crore.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Anil Ambani Reliance Communications said on Sunday lenders have rejected the resignations of chairman Anil Ambani and four other directors and asked them to cooperate in the ongoing corporate insolvency resolution process. Ambani, together with four directors \u2014 Ryna Karani, Chhaya Virani, Manjari Kacker and Suresh Rangachar \u2014resigned from the company earlier this month. [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":1446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-1445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1445"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1446"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}