Canara Bank Classifies Reliance Telecom Ltd & Anil Ambani as Wilful Defaulters | RCOM Disclosure

Mumbai, 8 September 2026: Reliance Communications Limited (RCOM) has informed BSE and NSE that its subsidiary, Reliance Telecom Limited (RTL), has received a letter from Canara Bank classifying RTL as a “Wilful Defaulter”.

The letter, dated 4 September 2026 and received by RTL on 7 September 2026, states that the Review Committee for Wilful Defaulters of Canara Bank, vide its decision dated 31 August 2026, has found sufficient grounds to classify Reliance Telecom Limited as a Wilful Defaulter in accordance with RBI guidelines.

The same letter also informs that the promoter of Reliance Communications Limited (in his capacity as erstwhile Chairman & Director of RCOM) has likewise been classified as a Wilful Defaulter.

Key Points from the Disclosure

• Entities classified:

  • Reliance Telecom Limited (subsidiary of RCOM)

  • Promoter of RCOM (erstwhile Chairman & Director)

• Date of Committee decision: 31 August 2026

• Date of Canara Bank letter: 4 September 2026

• Date of receipt by RTL: 7 September 2026

Background & Impact Noted by RCOM

Both RCOM and RTL are undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. Resolution plans for both companies have already been approved by their respective Committees of Creditors and are pending approval before the National Company Law Tribunal (NCLT), Mumbai Bench.

RCOM has stated that:

• The loan account referred to in the letter relates to the period prior to the commencement of CIRP of RTL.

• During CIRP, both companies enjoy protection under Section 14 of the Code against institution or continuation of suits/proceedings.

• Section 32A of the Code provides immunity to the corporate debtor against liability for offences committed prior to CIRP once the resolution plan is approved by NCLT (subject to change in management/control).

• Legal advice is being sought on the way forward.

The company has also noted that the Resolution Professional of RTL has already filed avoidance applications before the NCLT in respect of certain transactions identified in the letter; these applications are currently sub-judice.

Regulatory Filing

The disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A copy of the Canara Bank letter has been attached as Annexure B to the exchange filing.

Company Secretary: Rakesh Gupta
Reliance Communications Limited
(Under CIRP – Resolution Professional: Mr. Anish Niranjan Nanavaty)

Source: Official disclosure filed by Reliance Communications Limited with BSE (Scrip Code: 532712) and NSE (Symbol: RCOM) on 8 September 2026, along with the Canara Bank letter dated 4 September 2026.