Last checked at 4 Mar 2009 07:06
Document dated March 2, 2009
Sub: Scheme of Amalgamation of Reliance Petroleum Limited with the Company
Further to our letter dated February 27, 2009, we wish to inform you that the Board of Directors of the Company ("the Board") at its meeting held today has approved a Scheme of Amalgamation ("the Scheme") of Reliance Petroleum Limited (RPL) (the "Transferor Company") with the Company under the provisions of Sections 391 to 394 of the Companies Act, 1956.
The Scheme shall be subject to necessary approvals of shareholders and creditors and sanctions of the Hon'ble High Court of Judicature at Bombay and the Hon'ble High Court of Gujarat at Ahmedabad.
The Appointed Date of the amalgamation is April 1, 2008. Upon completion of the amalgamation, shareholders of RPL will receive 1 fully paid equity share of Rs.10 each of the Company for every 16 fully paid equity shares of Rs.10 each of RPL held by them on the record date to be fixed by the Transferee Company.
In terms of Clause 24(f) of the Listing Agreement, the Scheme will be submitted separately for your approval.
For Reliance Industries Limited
K Sethuraman
Authorised Signatory