RCOM2026-09-082026-09-08RCOM2026-09-08

RCOM

Reliance Communications Limited

true

Navi Mumbai

17:52:00

New

Initial Disclosure

Default

Subsidiary,Others

Erstwhile Chairman and Director of RCOM

As attached in Remarks for Exchange ( not for website Dissemination)

2026-09-08

In the said Letter, Canara Bank has, inter alia, informed RTL that the Review Committee for Wilful Defaulters of the Bank, vide its decision dated August 31, 2026, has concluded that there are sufficient grounds for classification of Reliance Telecom Limited as a “Wilful Defaulter” in accordance with the applicable guidelines issued by the Reserve Bank of India (“RBI”). The Letter further states that the promoter of the holding company, Reliance Communications Limited, (in his capacity as an erstwhile chairman & director of RCOM), has also been classified as a “Wilful Defaulter” in accordance with the applicable RBI guidelines.”

Refer Notes provided in Any other information section

2026-09-07

17:52:00

The Letter further states that the promoter of the holding company, Reliance Communications Limited, (in his capacity as an erstwhile chairman & director of the RCOM

Details of Amounts are Mentioned in Letter Received from Canara Bank which is attcahed to the disclosure filed in PDF in this regard with NSE and BSE.

As Mentioned in Letter Received from Canara Bank which is attcahed to the disclosure filed in PDF in this regard with NSE and BSE.

Estimated impact on the listed entity (being the Company) Both RCOM as well as RTL are undergoing corporate insolvency resolution process (“CIRP”) under the Insolvency and Bankruptcy Code, 2016 (“Code”). The resolution plans in respect of RCOM and RTL, have been approved by the committees of creditors of RCOM and RTL respectively, in accordance with the Code and are presently awaiting approval of the Hon’ble National Company Law Tribunal, Mumbai Bench (“NCLT”). The loan account referred in the Letter pertain to the period prior to the CIRP of RTL, and is required in terms of the Code, to be necessarily resolved as a part of a resolution plan or in liquidation, as the case may be. Further, with respect to certain transactions as identified in the Letter, the resolution professional of RTL has already filed avoidance applications in terms of the provisions of the Code with the NCLT, which are presently sub-judice, and the treatment thereof shall be in accordance with the decision of the NCLT read together with the applicable provisions of the resolution plan of RTL. With respect to the impact on the listed entity (being RCOM), please further note that during the CIRP, both RCOM and RTL are inter alia protected from, the institution/ continuation of any suits/ proceedings against RCOM and RTL, including the execution of any judgement, decree or order in any court of law, tribunal, arbitration panel or other authority in light of Section 14(1)(a) of the Code. Section 32A of the Code in any case grants protection to a corporate debtor against any liability for an offence committed by the corporate debtor prior to the commencement of its CIRP, as well as from prosecution of any offence in relation thereto, from the date the resolution plan in respect of such corporate debtor has been approved by the NCLT under Section 31 of the Code (if the resolution plan results in the change in the management or control of the corporate debtor in the manner prescribed under Section 32A of the Code). To that extent, it may be noted that by virtue of the protection made available under Section 32A of the Code, upon the approval of the resolution plan in respect of RCOM as well RTL by the NCLT, both RCOM and RTL shall be deemed to have immunity against any liability for any purported offences committed by RCOM / RTL prior to the commencement of the CIRP (including any liability which may arise as a result of any unlawful transactions identified in the forensic audit report). Further, under Section 238 of the Code, the provisions of the Code override anything inconsistent contained in any other law. Furthermore, legal advice is being sought on the way forward with respect to this development.