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Reliance Energy's merger process meet on April 26

Written by: Staff

Mumbai, Apr 10 (UNI) Reliance Energy Ltd today said that the company would hold a meeting of shareholders on April 26 to consider the merger of Reliance Energy Ventures Ltd with itself, pursuant to the order of Bombay High Court.

The shareholders would consider and if found fit, approve the scheme of amalgamation and arrangement with or without any modification, of REVL with the company, it informed the stock exchanges.

The Anil Dhirubhai Ambani Group (ADAG) had earlier announced a tentative and indicative time schedule for the implementation of the proposed merger of Reliance Energy Ventures Ltd (REVL) with Reliance Energy Ltd.

The announcement from ADAG had come after the Bombay High Court directed the two companies to hold shareholders' meeting for approving the schemes of amalgamation.

The merger is likely to be completed by July this year. The company would file petition with the High Court seeking sanction of the scheme shortly after the proposed shareholders meeting on April 26. The share price of Reliance Energy gained 1.33 per cent to close at Rs 627 on the BSE today.


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