Amalgamation – Reliance Petroleum Limited And Reliance Industries Limited-clonecd

Business The Scheme of Amalgamation of Reliance Petroleum Limited (RPL) with Reliance Industries Limited (RIL) was sanctioned by the Honble High Court of Judicature at Bombay. Mukesh Ambani led Reliance Industries Limited has also filed the same at the Bombay Stock Exchange (BSE). RIL added in its statement that the Honble High Court of Gujarat at Ahmedabad has also sanctioned the scheme. The High Court Orders were filed with the respective offices of the Registrar of Companies and the Scheme has become effective on September 11, 2009 with the appointed date being April 1, 2008. RPL now stands amalgamated with RIL. Reliance Petroleum Limited now stands dissolved without winding-up. From a strategic perspective, the merger of Reliance Petroleum Ltd. (RPL) with Reliance Industries Ltd. (RIL) could not have been timed better. The oil sector is on the verge of deregulation and there are tremendous opportunities opening up. To exploit these opportunities and to take on the high profile international competition now expected in the domestic market, a high cash flow generating entity with a strong balance-sheet is absolutely essential. The RIL-RPL combination is exactly that. Under the merger plan, shareholders of RPL get one share in RIL for every 16 shares held in RPL. The merger gives Reliance Industries Limited, direct control of the world’s largest refinery complex at Jamnagar. Reliance Industries Limited Reliance Industries Limited (RIL), the flagship company of the Reliance Group , is India’s largest private sector company on all major financial parameters with a turnover of Rs. 1,50,771 crore (US$ 29.7 billion), cash profit of Rs. 21,566 crore (US$ 4.3 billion), and net profit (excluding exceptional income) of Rs. 15,607 crore (US$ 3.1 billion) as of March 31, 2009. RIL is the first private sector company from India to feature in the Fortune Global 500 list of ‘World’s Largest Corporations’ and ranks 103rd amongst the world’s Top 200 companies in terms of profits. RIL is amongst the 30 fastest climbers ranked by Fortune. RIL features in the Forbes Global list of the world’s 400 best big companies and in the FT Global 500 list of the world’s largest companies. RIL ranks amongst the ‘Worlds 25 Most Innovative Companies’ as per a list compiled by the US financial publication-Business Week in collaboration with the Boston Consulting Group. Reliance Petroleum Limited Reliance Petroleum Limited (RPL) is a subsidiary of Reliance Industries Limited. RPL was formed for setting up a greenfield petroleum refinery and polypropylene plant in a Special Economic Zone at Jamnagar in Gujarat and has commenced refining of crude. With an annual crude processing capacity of 580,000 barrels per stream day (BPSD), RPL will be the sixth largest refinery in the world. About the Author: 相关的主题文章:

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