Highlights:

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

1. Decision of Anil Ambani is part of Company promoters' commitment to strategic transformation program, says RCom 

2. RCom's on-board management team will defer personal pay by up to 21 days  

3. RCom will follow these measures till December 2017

As a part of Reliance Communications (RCom) promoters' commitment to strategic transformation program, Reliance Group chairman Anil Ambani said on Wednesday that he has voluntarily decided to draw no salary or commission from the telecom company in the current financial year.

"Chairman, Reliance Group, Anil D Ambani "voluntarily" decides to draw no salary or commission from RCom in the current financial year," cited Reliance Communications (RCom) in a press release. 

ALSO READ: Reliance Communications assures lenders of Rs 25,000 crore payment in four months

"Decision part of company promoters' commitment to strategic transformation program," it further said.

Following Anil Ambani's latest move, Reliance Communications' (RCom) on-board management team has stepped up to timely execute it and have said that they will defer personal pay by up to 21 days . 

Reliance Communications (RCom) will follow these measures till December 2017. 

"Aircel, Brookfield deals targeted to close by September30, 2017, subject to approvals; will reduce debt by nearly 60% or Rs 25,000 crore," cited the company in a release. 

ALSO READ: Now Fitch downgrades Reliance Communications, says default a 'real possibility'