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RCom chairman Anil Ambani to draw no salary in FY18

The top management of the company has also decided to defer their personal pay by 21 days

Press Trust of India  |  New Delhi 

Anil Ambani, Chairman of India's Reliance Communications, addresses a news conference in Mumbai (Photo: Kamlesh Pednekar)
File photo of Anil Ambani, chairman of Reliance Communications, addressing a news conference in Mumbai. Photo: Kamlesh Pednekar

chairman will not take any or commission in the current financial year as the company is reeling under huge debt and credit downgrades.

The top management of the company has also decided to defer their personal pay by 21 days till the end of this year.

"Chairman, Reliance Group, Anil D Ambani voluntarily decides to draw no or commission from in current financial year," said in a statement.

The company has defaulted on some of the payments to lenders and it has received time till December for strategic restructuring plan under which it will get a seven-month standstill to service loans amounting to Rs 45,000 crore.

Ambani has said that the debt burden will be reduced to Rs 20,000 crore with two deals by September, before the December deadline given by the lenders.

said and deals are targeted to close by September 30, 2017 subject to approvals and will reduce debt by nearly 60 per cent or about Rs 25,000 crore.

The company has been reeling under a slew of rating downgrades over the last few days, battering its stock.

Shares of were trading at 18.2 a unit, up 0.83 per cent, in the afternoon on BSE.

RCom chairman Anil Ambani to draw no salary in FY18

The top management of the company has also decided to defer their personal pay by 21 days

The top management of the company has also decided to defer their personal pay by 21 days
chairman will not take any or commission in the current financial year as the company is reeling under huge debt and credit downgrades.

The top management of the company has also decided to defer their personal pay by 21 days till the end of this year.

"Chairman, Reliance Group, Anil D Ambani voluntarily decides to draw no or commission from in current financial year," said in a statement.

The company has defaulted on some of the payments to lenders and it has received time till December for strategic restructuring plan under which it will get a seven-month standstill to service loans amounting to Rs 45,000 crore.

Ambani has said that the debt burden will be reduced to Rs 20,000 crore with two deals by September, before the December deadline given by the lenders.

said and deals are targeted to close by September 30, 2017 subject to approvals and will reduce debt by nearly 60 per cent or about Rs 25,000 crore.

The company has been reeling under a slew of rating downgrades over the last few days, battering its stock.

Shares of were trading at 18.2 a unit, up 0.83 per cent, in the afternoon on BSE.
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Business Standard
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RCom chairman Anil Ambani to draw no salary in FY18

The top management of the company has also decided to defer their personal pay by 21 days

chairman will not take any or commission in the current financial year as the company is reeling under huge debt and credit downgrades.

The top management of the company has also decided to defer their personal pay by 21 days till the end of this year.

"Chairman, Reliance Group, Anil D Ambani voluntarily decides to draw no or commission from in current financial year," said in a statement.

The company has defaulted on some of the payments to lenders and it has received time till December for strategic restructuring plan under which it will get a seven-month standstill to service loans amounting to Rs 45,000 crore.

Ambani has said that the debt burden will be reduced to Rs 20,000 crore with two deals by September, before the December deadline given by the lenders.

said and deals are targeted to close by September 30, 2017 subject to approvals and will reduce debt by nearly 60 per cent or about Rs 25,000 crore.

The company has been reeling under a slew of rating downgrades over the last few days, battering its stock.

Shares of were trading at 18.2 a unit, up 0.83 per cent, in the afternoon on BSE.

image
Business Standard
177 22