Reliance Communications chairman Anil Ambani will not draw salary in FY18

This comes just days after the company's debt was downgraded by three credit agencies amid fears of a default.

By: Express Web Desk | New Delhi | Updated: June 14, 2017 3:14 pm
Anil Ambani, Mukesh Ambani, Reliance, Reliance Jio, RCom, 4G, telecom sector, 4G services, Reliance Communications, business news, economy news Reliance Communications chairman Anil Ambani. (file photo)

Reliance Communications Chairman Anil Ambani will not be drawing salary from the company for the current financial year, news agency PTI reported on Monday. The company management also decided to defer their personal remunerations by 21 days, according to CNBC-TV18. The measures will  stay in effect till the end of year, it added.

This comes just days after the company’s debt was downgraded by three credit agencies amid fears of a default. In the March quarter, RCom posted a loss of Rs 966 crore. At the end of the 2017 Financial Year, RCom’s debt rose to Rs 42,000 crore.

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  1. V
    Vivek khatri
    Jun 14, 2017 at 4:12 pm
    Another Vijay Mallaya in the making,Modi and jaitley will ensure his safe passage as they did for mallya.
    1. k
      Jun 14, 2017 at 3:44 pm
      Does Anil Ambani needs ry to live ?Whats the big deal. A promoter has hundred ways to siphon off ailing company's money for a living.
      1. Damodar Biswal
        Jun 14, 2017 at 3:34 pm
        He should have done it much earlier.He is responsible for destruction of huge investor's wealth.
        1. A
          Jun 14, 2017 at 3:25 pm
          He and his brother don't need a ry. They have pocketed the huge bank loans they have taken. With their br and amba55ador Modi in their pocket, they don't need to repay the bank loans. Modi needs their stolen bank loans to buy LAS in the presidential elections.