Bombay HC approves RIL-RPL merger

The Bombay High Court on Monday dismissed an appeal filed by two shareholders against the merger of Reliance Industries Ltd (RIL) and Reliance Petroleum Ltd (RPL).

A Division Bench led by Justice Bilal Nazki Monday dismissed the appeal. The Bench also did not grant a stay on its own order.

Earlier a single judge of the High Court had approved the merger, but Anup Sheth and Rasikbhai Mardia, minority shareholders of both RIL and RPL, had challenged it before a Division Bench.

Source: thehindubusinessline

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