By IANS
Mumbai : India’s private sector behemoth Reliance Industries Ltd (RIL) has got bigger as group firm Indian Petrochemical Corp Ltd (IPCL) has been amalgamated with it following the court permission.
“The certified copies of the Gujarat High Court, Ahmedabad, and the judicature of the High Court of Bombay, sanctioning the scheme of amalgamation of IPCL with RIL from April 1, 2006 have been filed with the respective Registrars of Companies Wednesday,” the company said here Thursday.
“With this, the scheme becomes effective from Sep 5, 2007, and accordingly IPCL and RIL have been amalgamated,” it said.
“The amalgamation of IPCL with RIL, India’s largest private sector company, is in line with global trend in the energy and chemical sector, to achieve size, scale, integration and greater financial strength and flexibility, in the interest of maximizing the over all shareholders value,” an RIL spokesman said.