Bombay HC dismisses petition on RIL- RPL merger

Posted By: Staff
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Mumbai, Aug 3(ANI): The Bombay High Court on Monday dismissed a petition filed against the merger of Reliance Industries Ltd (RIL) and Reliance Petroleum Ltd (RPL).

Earlier a single judge bench of the same high court had approved the merger of RIL and RPL.

A division bench of the High Court led by Justice Bilal Nazki dismissed the petition filed by Anup Sheth and Rasikbhai Mardia, minority shareholders of both RIL and RPL.

The bench also refused to give a stay on its earlier order on the merger of RIL and RPL.

Sheth and Mardia requested the court to order an inquiry by SEBI, RBI and other financial governing bodies before sanctioning the merger. (ANI)

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