ADAG announces tentative schedules for merger of companies

Mumbai, Mar 24 (UNI) Two Reliance-Anil Dhirubhai Ambani group (R-ADAG) companies - Reliance Energy Ventures Limited and Reliance Capital Ventures Limited - today announced their tentative and indicative time schedules for the implementation of their proposed merger with Reliance Energy Limited and Reliance Capital Limited, respectively.

A press release issued by the group today said three of these companies had been directed by the Bombay High Court to convene a meeting of their respective shareholders on April 26, to approve their merger schemes.

The fourth company, Reliance Capital Limited (RCL), has been directed to convene a meeting of its equity shareholders by the High Court of Gujarat on April 25.

In the case of the amalgamation of Reliance Energy Ventures Limited with Reliance Energy Limited, after the court-convened meeting, the filing of the petition with the High Court seeking sanction of the scheme is proposed to be done soon after April 26, while hearing on the petition and sanctioning of the scheme will be done the week beginning June five, the release said.

The filing of the court order with the registrar of companies is proposed to be done in the week beginning June 12, while the record date has been fixed for the week beginning July 10 and the allotment and listing of the shares of the resulting company will begin in the week commencing July 17.

In the case of Reliance Capital Ventures Limited, the filing of the petition with the High Courts, seeking sanction of the scheme will be done soon after April 26, while the hearing on the petition and sanctioning of the scheme will be done in the week beginning June five.

The filing of the court order with the registrar of companies will be done in the week beginning June 12, with the record date being fixed for the week beginning July 10, and the allotment and listing of shares of the resulting comany will be done in the week beginning July 17, the release added.

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