Reliance Communications Reports Rs 2,560 Crore Loss in Q1 Amid Ongoing Insolvency Process 2 days ago
Reliance Communications (RCom) reported a consolidated net loss of Rs 2,560 crore for Q1 FY24, compared to Rs 2,220 crore loss in Q1 FY23. Revenue declined to Rs 83 crore from Rs 97 crore year-on-year. The company, undergoing insolvency resolution, faces ongoing financial challenges and regulatory issues. Loss from discontinued operations increased to Rs 2,526 crore. RCom's insolvency process continues with a resolution plan pending NCLT approval. The company is grappling with license renewal issues and defaults on borrowings and statutory dues.
Reliance Communications Sets Key Meetings Amid Ongoing Insolvency Process 8 days ago
SBI Reclassifies Reliance Communications and Anil Ambani as 'Fraud', Initiates CBI Complaint Jul 22, 2025
RCom's ₹550 Crore Refund Plea Against Ericsson: NCLT Decision Due in June May 01, 2025
More news about Reliance Communications
30Apr 25
RCom's Resolution Professional Seeks ₹550 Crore Refund from Ericsson, NCLT to Hear Petition
Reliance Communications' resolution professional has filed a petition with the NCLT Mumbai bench, seeking a refund of ₹550 crore paid to Ericsson in 2019. The RP argues this payment constituted preferential treatment to an operational creditor. Ericsson opposes the refund, citing a Supreme Court order. The case raises questions about the treatment of court-ordered payments in insolvency proceedings and could set a precedent for future corporate insolvency cases in India.
Reliance Communications Limited (RCOM) reported a total financial indebtedness of ₹40,413.00 crore as of March 31, 2023, excluding accrued interest. The company received cautionary emails from NSE and BSE for delayed disclosure of a SEBI order. RCOM, currently under corporate insolvency resolution process since June 2019, cited operational challenges and limited personnel as reasons for the delay in disclosure.
03Apr 25
Reliance Communications Director Resigns Amid Anil Ambani's Legal Challenges
Reliance Communications Limited (RCom) announces the resignation of Director Shri Punit Narendra Garg, effective April 1, 2025. Meanwhile, former RCom chairman Anil Ambani withdraws petition challenging an Income Tax notice after Bombay High Court imposes ₹25,000 cost for 'artificial urgency'. RCom remains under corporate insolvency resolution process since June 28, 2019.
01Apr 25
Reliance Communications Reports Subsidiary Dissolutions and Financial Loss
Reliance Communications Limited (RCOM) has announced the dissolution of two foreign step-down subsidiaries: Anupam Global Soft (U) Limited in Uganda and Lagerwood Investments Limited in Cyprus. The company, currently under corporate insolvency resolution process, reported a consolidated net loss of 490 million rupees. RCOM stated that the subsidiary dissolutions would not impact its operations, and there is no financial impact on its standalone financial statements. The company's affairs are being managed by a Resolution Professional since June 2019.
31Mar 25
Reliance Communications Reports Corporate Restructuring and Financial Loss
Reliance Communications (RCOM) announced the striking off of its Ugandan subsidiary Anupam Global Soft and dissolution of Cyprus-based Lagerwood Investments. The company reported a consolidated net loss of ₹490 million. RCOM stated these changes have no significant operational or financial impact. The company, currently under insolvency resolution, is managed by a Resolution Professional since June 2019.