Mumbai: Struggling Anil Ambani group, which has exited a slew of businesses in recent past due to severe liquidity crunch, has appointed both the sons--Anmol (27) and Anshul (24)--as directors on the board of infrastructure arm RInfra. During the recent AGMs, Ambani had said the group was shuttering the two lending arms of Reliance Capital--Reliance Commercial Finance and Reliance Home Finance with a cumulative asset of over ₹25,000 crore--by December. The group has long ago existed the telecom business and the company, once a leading player, is in the bankruptcy court since February. The defence business, Reliance Naval is also under severe financial stress. Ambani had claimed that these events aided and abetted by reckless selling and rumour-mongering by vested interest have affected the shareholders of the Group companies.

Source: Mint October 09, 2019 15:22 UTC