Anil Ambani has resigned as the director of Reliance Communications. The move comes even as lenders to the telecom company are looking to sell RCom assets. The company is now being managed by a resolution professional.

Anil AmbaniAmbani’s resignation marks the end of his telecom ambitions. Anil had got the telecom venture as part of an agreement with his elder brother Mukesh Ambani to resolve a family dispute between the two. Mukesh later began his telecom venture, Reliance Jio, which is now one of the largest telecom players in the country.

RCom had shut down its mobile services after being unable to pay dues of over Rs 33,000 crore. Reliance Jio is one of the players interested in getting RCom assets through the IBC-led insolvency process.

Other directors of the company who have tendered their resignations are Chhaya Virani, Ryna Karani, Manjari Kacker and Suresh Rangachar.

(With inputs from thehindubusinessline)