Reliance Communications bankruptcy: What led to Anil Ambani’s resignation from RCom?

Billionaire industrialist Anil Ambani on Saturday resigned as director of Reliance Communications as the bankrupt telecom operator neared sale of its assets under an insolvency process. The development follows RCom's consolidated loss of Rs 30,142 crore for the second quarter released late on Friday after provisioning for statutory licence fee and spectrum usage dues as compared to a profit of Rs 1,141 crore in Q2 FY19.