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Bombay HC approves RIL-RPL merger

August 3, 2009 · Filed Under Reliance Industries · Comment 

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.
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Reliance Petroleum reported Rs 105 cr profit in Q1

July 24, 2009 · Filed Under Reliance Petroleum · Comment 

Mukesh Ambani-promoted Reliance Petroleum (RPL) today reported a net profit of Rs 105 crore for the first quarter ended June 30, 2009.

Total income of the company was Rs 7,646 crore in the quarter. It started commercial production on March 15, 2009.

The total expenditure during the quarter amounted to Rs 7,425 crore, RPL said in a statement, adding the total capital employed by the company is Rs 34,693 crore.
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Reliance Petro sells short-term debt

May 15, 2009 · Filed Under Reliance Petroleum · Comment 

Reliance Petroleum, a unit of India’s largest energy group, Reliance Industries, on Friday raised 5 billion rupees ($101 million) through the sale of short-term debt, two sources with knowledge of the deal said.

The company sold three-month notes at a coupon rate of 3.95 percent, they added.

Edelweiss Securities was the sole arranger to the issue, which closes on Friday.
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SEBI issues showcause notice to Reliance Petroleum

May 4, 2009 · Filed Under Reliance Petroleum · Comment 

Market sources have reported that the Securities and Exchange Board of India (SEBI), following the completion of its investigation, has issued a showcause notice to Reliance Petroleum for alleged insider trading and violation of the Fraudulent and Unfair Trade Practices (FUTP). The regulator does not put out its showcause notices in the public domain. But CNBC-TV18 has learnt that a formal showcause notice has indeed gone to the company. CNBC-TV18’s Vivek Law reports.
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Chevron exits Reliance Petroleum: sells 5% stake to Reliance Industries

April 30, 2009 · Filed Under Reliance Industries · Comment 

Mukesh Ambani-run Reliance Industries has bought back US energy giant Chevron Corp’s five per cent stake in Reliance Petroleum for Rs 1,350 crore.

In a disclosure to the BSE, Reliance Petroleum (RPL) said Chevron India Holdings has sold 22.50 crore shares, representing five per cent stake in RPL, to Reliance Industries (RIL). RIL has paid Rs 60 per share aggregating to Rs 1,350 crore, the same price at which the US firm had bought five per cent stake in RPL in April 2006.
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CRISIL assigned P1+ rating to RPL

April 27, 2009 · Filed Under Reliance Petroleum · Comment 

Tags: Reliance petroleum shares,Reliance petroleum,Reliance petroleum limited,Reliance petroleum india,Credit rating,Reliance petroleum industries.

Credit rating agency, CRISIL has assigned its rating of P1+ to the commercial paper program of Reliance Petroleum (RPL), and has reaffirmed its outstanding P1+ rating on the company`s bank facilities.

For arriving at the rating, CRISIL has combined the financial and business profiles of RPL (Q, N,C,F)* with Reliance Industries (RIL), and other group and associate companies, which are strategically important to, and have a significant degree of operational integration with, RIL and RPL.
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RPL shareholders approve merger with Reliance Industries

April 13, 2009 · Filed Under Reliance Industries, Reliance Power · Comment 


The shareholders and the creditors of Reliance Petroleum Limited (RPL) approved the Scheme of Amalgamation of RPL with Reliance Industries Limited (RIL).
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Reliance Petrol Pump to reopen from next week

March 15, 2009 · Filed Under Reliance Industries · 7 Comments 


After keeping its petrol pumps shut for nearly a year, India’s largest refiner, Reliance Industries Ltd (RIL), is all set to restart its fuel retailing business. Starting early next week, Reliance, which has over 1,400 pumps across the country, will reopen the retail outlets in phases, starting with Maharashtra and Gujarat.
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Reliance Board to debate RIL-RPL merger today

March 1, 2009 · Filed Under Reliance Industries, Reliance Petroleum · Comment 


India’s largest private sector company, Reliance Industries, controlled by the country’s richest man, Mukesh Ambani, holds a board meeting on Monday to discuss buying out the shares it does not already own in its main refinery unit.
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ED seeks to probe Mukesh Ambani’s RPL role in Iraq oil-for-food program

February 26, 2009 · Filed Under Reliance Petroleum · Comment 


The Enforcement Directorate (ED), which is responsible for enforcement of the country’s exchange control laws, has sought finance ministry approval to approach authorities in Iraq, Lebanon and Jordan for details on whether the Mukesh Ambani group’s Reliance Petroleum Ltd (RPL) paid anything extra to Saddam Hussein’s regime to secure oil contracts under a UN-administered oil-for-food programme that ran from 1995 to 2003.
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