The Reliance-Anil Dhirubhai Ambani Group on Friday announced a tentative schedule for merger of two firms transferred from Mukesh Ambani group earlier this year with its flagship power entity Reliance Energy Ltd and financial services company Reliance Capital Ltd.
The announcement came shortly after the Bombay High Court directed the companies -- Reliance Energy Ventures, Reliance Capital Ventures Ltd, REL and RCL -- to hold shareholders' meeting on April 26 for approving the schemes of amalgamation.
The merger process would be completed by July this year.
The companies would file petitions with the High Court seeking sanction of the scheme shortly after the April 26 meeting, REVL and RCVL informed stock exchanges separately.
The merger scheme is expected to be sanctioned during the week beginning June 5 and the companies would file the court order with Registrar of Companies for bringing the scheme into effect in the subsequent week.
The record date for merger would be in the week of July 10 and the resulting companies would get listed on the bourses a week later.
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