Anil Ambani’s sons Anmol and Anshul have resigned as members of the Board of Reliance Infrastructure. Four months ago, they had been inducted into the board without the board revealing the reason behind the move. 

According to a company disclosure statement, the brothers had stopped being board members since Jan. 31, however did not share whether they would continue to play any other active role within the company. 

In October 2019, Anmol and Anshul were appointed as directors on the board of Reliance Infrastructure as a response to the shareholders encouragement. Board members recommended Chairman Ambani to get his sons more involved in the company, at a time when Reliance Infrastructure was facing a downgrading rating, dealing with losses, and trying to recast debt. 

Before his appointment as a director at Reliance Infrastructure, Amol was an executive director at Reliance Capital since 2016. Anshul had joined the Reliance Group early last year after finishing up his undergraduate degree in business management from NYU’s Stern School of Business. 

Post this announcement, the shares dropped by five percent on the BSE. 

Image source: Business Today