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IPCL amalgamates with RIL
06 Sep '07
1 min read
The certified copies of the Orders of the Hon'ble High Court of Gujarat at Ahmedabad and the Hon'ble High Court of Judicature at Bombay, sanctioning the Scheme of Amalgamation of Indian Petrochemicals Corporation Limited (IPCL) with Reliance Industries Limited (RIL) from 1st April, 2006 (Appointed Date), have been filed with the respective Registrars of Companies yesterday.
With this, the Scheme became effective yesterday, i.e., 5th September, 2007 and accordingly IPCL has been amalgamated with RIL.
The amalgamation of IPCL with the Company is in line with global trends in the energy and chemicals sector, to achieve size, scale, integration and greater financial strength and flexibility, in the interests of maximizing the overall shareholder value.
With this, the Scheme became effective yesterday, i.e., 5th September, 2007 and accordingly IPCL has been amalgamated with RIL.
The amalgamation of IPCL with the Company is in line with global trends in the energy and chemicals sector, to achieve size, scale, integration and greater financial strength and flexibility, in the interests of maximizing the overall shareholder value.
Reliance Industries Limited
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