Gujrat high court to hear petition on RIL-IPCL merger on June 19

Mumbai, May 23 (UNI) Gujarat high-court will hear a petetion seeking the court's nod for the proposed amalgamation of Indian Petrochemicals Limited (IPCL) with Reliance Industries Limited (RIL) on June 19.

In a statement filed to the Bombay Stock Exchange today, IPCL said ''The company had presented the petetion before the court on April 18 and the same was admitted by the High Court of Gujarat at Ahmedabad on April 23. The aforesaid petition is fixed for hearing before the judge taking company matters on June 19.'' The shareholders of Reliance Industries had approved the merger on April 21 where the approval of shareholders was received by IPCL on April 14.

RIL had acquired 47.3 percent stakes in IPCL in June 2002 when the government divested its stake in IPCL.

UNI