Billionaire Anil Ambani has announced in the important meeting that the cash trapped Reliance Communications will be completely shutting off its business to concentrate on real estate in the future. Reliance Communications entered the telecom market by wooing the customers with cheaper rates in early 2000s and now Anil Ambani has announced the inevitable call following huge losses in this sector. RCOM owes a 40,000 crore debt to about 38 lenders, including few Chinese banks. Watch the video for more details of this news.
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