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.