Reliance Communications Ltd

Financial results approved

• Standalone Q1 FY27 unaudited results approved; Rs 1,566 crore exceptional gain on settlement of liabilities.
• Consolidated Q1 FY27 unaudited results approved; Rs 1,630 crore exceptional gain on settlement of liabilities.
• Limited Review Reports filed by auditors.

Governance and CIRP oversight

• Resolution Professional Anish Niranjan Nanavaty presided; board powers suspended under CIRP.
• Additional directors to be appointed; approvals by CoC pending.

Auditor remarks and going concern

• Auditors qualify going concern due to ongoing CIRP and regulatory issues.
• Assets held for sale retained at 2018 valuation; fair value not determined.

Regulatory and legal disclosures

• DoT license migration to UL; multiple court proceedings; next hearings Aug 25 and Oct 30, 2026.
• ED/CBI investigations; provisional attachments under PMLA; appeals pending; next hearing Oct 2026.
• SFIO notices received; information provided; no impact on standalone results.

Corporate actions and changes

• Directors of the corporate debtor and subsidiaries resign; new director appointments pending CoC approvals.
• Bonn Investment Inc. director removed for unauthorized sale; RP pursuing recovery; related proceedings ongoing.
• Certain foreign subsidiaries (UK, Cyprus, Singapore) deconsolidations/struck off; impacts noted.

Filing Status

• NCLT Mumbai disposes RCIL CIRP applications on Aug 21, 2026.
• Observes the approved Resolution Plan is non-implementable in its present form.
• Directs erstwhile RP to convene a CoC meeting within 30 days.
• Next hearing listed for Sept 24, 2026.

Impact on Reliance Communications

• Order relates to RCIL, the subsidiary of Reliance Communications Limited.
• No specific violation stated against Reliance Communications Limited.
• Financial impact on the parent is presently unquantifiable.

CoC meeting reschedule

• 75th CoC meeting moved from Aug 21, 2026 to Aug 27, 2026.

DoT partial encashment details

• DoT directs partial encashment of two FBGs for RCOM and RTL.
• RCOM: SBI FBG LF for UAS, ₹5,73,49,933, expiry 23 Jan 2027.
• RCOM defaulted on license fees for FY 2023-24 to 2025-26.
• Partial encashment of ₹5,55,42,271 to be completed within two working days.
• RTL: BoB FBG LF for UL-Access, ₹2,00,00,000, expiry 23 Jun 2027.
• RTL defaulted on license fees for FY 2023-24 to 2025-26.
• Partial encashment of ₹16,25,000 to be completed within two working days.
• Amended bank guarantees may be issued after encashment for both RCOM and RTL.
• Aggregate encashment amount: ₹5,55,42,271 (RCOM) and ₹16,25,000 (RTL).
• Company examining financial and legal implications under CIRP.

FBG invocation by DoT

• DoT invoked/encashed bank-issued FBGs on behalf of RCOM for deferred spectrum payments.
• Aggregate FBG invocation amounts to ₹801.91 crore.
• Invocations cover 2013 Yes Bank, 2015-16 PNB, 2015 Canara Bank, 2014-15 SBI.
• DoT communications state nonpayment/default in deferred annual spectrum instalments.
• RCOM is examining financial and legal implications, including potential impact on liabilities.
• Status: CIRP ongoing; further developments to be disclosed as required.
• No assurance on completion; steps to be taken under applicable law.
• Company notes DoT communications and will inform stock exchanges of material developments.
• Background: FBGs secured deferred spectrum instalments from spectrum auctions.

Financial results approved

• Standalone Q1 FY2026 unaudited results approved; total income ₹59 cr; revenue ₹56 cr.
• Consolidated Q1 FY2026 unaudited results approved; total income ₹82 cr; PAT ₹457 cr.
• RP chaired the meeting; results taken on record; CIRP requires RP oversight.
• Auditors Pathak H. D. & Associates LLP signed Limited Review Reports for both results.

Governance & oversight

• RP Anish Niranjan Nanavaty continues as Resolution Professional; board powers with RP.
• Meeting chaired by RP; results signed to ensure CIRP compliance.

Auditor notes and going concern

• Assets Held for Sale classified at 2018 values; no fair value update.
• Non-provision of interest and FX losses; would raise reported losses.
• Going concern uncertainty persists; auditors qualified due to CIRP matters.
• Limited review notes indicate qualification; no audit opinion issued.

Regulatory & compliance updates

• ED/CBI searches; provisional attachments under PMLA; appeals filed; next hearings in 2026.
• Supreme Court AGR ruling (Feb 13, 2026): spectrum assets not subject to CIRP; reviews filed.
• DoT UL migration/licence petitions: NCLT/TDSAT proceedings ongoing; next dates in 2026.
• Overseas subsidiaries Bonn, UK, Cyprus, Singapore deconsolidated; gains recognized as exceptional items.
• Bonn director unauthorized sale; RP filed matters under IBC 66; director resigned.

Reliance Communications Ltd — Trading Window closed from July 01, 2026 and will open after 48 hours of declaration of the Financial Results of the Company for the quarter ended June 30, 2026