The Indian Petrochemicals Corporation Ltd, a Reliance company, has announced a one-time voluntary retirement scheme for its workers.
The certified copies of the orders of the Gujarat and Bombay high court, sanctioning the scheme of amalgamation of IPCL with Reliance Industries, were filed with the respective registrar of companies on Wednesday.
On March 10, the boards of directors of RIL and IPCL had approved the scheme merger. RIL's associate companies hold 47.3 per cent of IPCL's equity share capital.
The week-long roadshow for public offer for government's residual equity in IPCL would begin on Tuesday in Mumbai, in the presence of Mukesh Ambani, chairman of Reliance Industries which took over IPCL's management control.
The board of Indian Petrochemicals Corporation is likely to meet on January 20, a day before the board meeting of flagship company Reliance Industries, to approve October-December, 2004, financial results.
The IPCL board, headed by Mukesh Ambani, on Thursday requested Anil Ambani to reconsider resignation as Vice-chairman and director of the company, sources said.
In a bid to garner an estimated Rs 15,000 crore (Rs 150 billion) from divesting stakes in six companies, the government will hit the market for sale of equity in IPCL on February 20 followed by CMC and IBP in the next three days.
IPCL, a group company of Reliance headed by Mukesh Ambani, on Thursday reported a jump of 133 per cent in net profit to Rs 189 crore (Rs 1.89 billion) for the third quarter ending December, 2004
The board of directors of Reliance Industries, which met on Saturday, approved a proposal to merge IPCL with the company.
The Congress on Monday claimed that the Tata-Airbus C-295 aircraft facility inaugurated in Vadodara was earlier supposed to be set up in Nagpur and alleged that under Prime Minister Narendra Modi's instructions, the Centre and the Mahayuti dispensation have conspired to ensure the 'wholesale surrender' of Maharashtra's interests.
Reliance Industries and IPCL have consolidated their stake in the two Mukesh Ambani group entities over the past quarter.
Anand Jain, a key confidant of Reliance chairman and managing director Mukesh Ambani, has not quit the board of the group's petrochemical company IPCL contrary to media reports.\n\n
Indian Petrochemicals Corporation, part of the Reliance group, has decided to merge of six group companies with itself.
The sale of government's residual equity in IPCL through public offer received an overwhelming response on the very first day, with bids put in for 6.5 crore.
Nearly four months after Anil Ambani tendered his resignation from the board of Reliance group company IPCL in the midst of his feud with brother Mukesh Ambani, the company's website on Friday showed the list of the Board of Directors without the you
Indian Petrochemicals Corporation of India Ltd posted a net profit of Rs 750 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 190 million in the corresponding period last fiscal.
Taking note of the developments relating to the status of Anil Ambani as director on the board of Reliance Group entity IPCL Ltd, Securities and Exchange Board of India has asked stock exchanges to check the company's adherence to listing agreement.
Union Divestment Minister Arun Shourie on Friday said the initial public offering to pare the government's stake in five companies - VSNL, Balco, IPCL, CMC and IBP would be done within the next six months.
Reliance Industries, the country's most valued company, is delaying its annual general meeting this year following non-receipt of approvals for merger of Indian Petrochemicals with itself.
Reliance Industries is understood to have declined an offer by the government to pick up an additional five per cent equity in IPCL for raising its stake to 51 per cent
The RIL-owned Indian Petrochemicals Corporation Ltd has shed its workforce by about 12 per cent as it gave voluntary retirement to 1,550 employees, which would cost the company Rs 120 crore (Rs 1.20 billion) during the current fiscal.
Mukesh Ambani-controlled Indian Petrochemicals Corporation Ltd said on Wednesday it will consider interim dividend payout to shareholders for 2005-06 on May 4.
When contacted a spokesperson for Anil Ambani, who is engaged in a battle with elder brother Mukesh over control of Reliance empire, confirmed the news.
Consequent to the Supreme Court's verdict on HPCL, BPCL divestment the government is understood to have halted the sale of its residual equity in privatised companies like Videsh Sanchar Nigam, IBP and IPCL.
Indian Petrochemicals Corporation Ltd employees affiliated to three separate unions in Vadodra will go on a mass protest on Tuesday against the proposed transfer of some of them to Reliance Industries' SEZ in Jamnagar.
The Bombay high court will on June 8 hear a petition filed by Mukesh Ambani-led Reliance Industries seeking the court's nod for the merger of IPCL with itself.
The bench said that in its opinion the reasoning given by the high court is faulty on both facts and law.
The government is looking to sell shares of Reliance Industries (RIL) held through Specified Undertaking of the Unit Trust of India (SUUTI) and is soon going to appoint an intermediary to manage it. The plan is to sell about 8 lakh shares of RIL that will help the government garner around Rs 180 crore. The Department of Investment and Public Asset Management (DIPAM) will appoint an intermediary that will act as a custodian of these shares. The intermediary, based on its market analysis, will offload these shares at the best price, said an official. A final approval on the proposal is expected soon.
Among his many achievements, his 49 ODI centuries stand out as a testament to his mastery of the format.
Mukesh Ambani Group-controlled Indian Petrochemicals Corporation Ltd said on Friday there would be no change in its management post amalgamation of its subsidiaries with itself.
Reliance Petroinvestments, a subsidiary of Mukesh Ambani-led Reliance Industries Ltd (RIL), has approached the Securities Appellate Tribunal against the capital markets regulator, which imposed a Rs 11-crore (Rs 110 million) penalty on the company in the Indian Petrochemicals Corp Ltd (IPCL) insider trading case.
Four people were killed and 46 others injured in an explosion triggered by a fire inside the Reliance-owned Indian Petrochemicals Corporation Limited plant in Raigad district's Nagothane town.
Ending months of speculation, Reliance Industries today said it is considering merging group firm Indian Petrochemicals Corporation Ltd with itself.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances