While Anil always viewed the telecom business as the next frontier, after losing the lucrative oil and gas operations in the family settlement, heavy investments and stiff competition made it an uphill task with debts mounting by the day (nearly Rs 47,000 cr). Things worsened following Mukesh Ambani's re-entry into telecom under the Reliance Jio banner.
from Times of India https://timesofindia.indiatimes.com/business/india-business/from-a-prized-jewel-to-a-fallen-star-the-collapse-of-rcom/articleshow/67968387.cms
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