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Reliance Industries secures shareholders, creditors nod to hive off O2C business into separate unit


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Reliance Industries secures shareholders, creditors nod to hive off O2C business into separate unit
Billionaire Mukesh Ambani s Reliance Industries Ltd on Friday said it has secured approval of its shareholders and creditors for hiving off its oil-to-chemical (O2C) business into a separate unit.
As per directions of the National Company Law Tribunal (NCLT), the company convened meetings of equity shareholders, lenders and unsecured creditors for consideration of a resolution for transferring the O2C business to a separate subsidiary - Reliance O2C Limited.
In stock exchange filings, RIL said 99.99 per cent of shareholders, who participated in the meeting held through video conferencing, voted in favour of the resolution. While 100 per cent of the secured creditors voted in favour of the resolution, 99. 99 per cent of unsecured creditors cast their vote in favour of the resolution. The meetings were chaired by former Supreme Court judge Justice ....

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Reliance Industries delights shareholder on 40th Annivesary with 1:1 bonus shares issue after 12 years


Reliance Industries delights shareholder on 40th Annivesary with 1:1 bonus shares issue after 12 years
Reliance Industries delights shareholder on 40th Annivesary with 1:1 bonus shares issue after 12 years
Reliance Industries Limited On Thursday Brought A Smile On The Faces Of Millions Of Its Shareholders After Announcing A Bonus Share Issue, The First By The Corporate Entity In 12 Years.
News Nation Bureau | Edited By : Gautam Lalotra
| Updated on: 21 Jul 2017, 02:52:11 PM
New Delhi:
Reliance Industries Limited on Thursday brought a smile on the faces of millions of its shareholders after announcing a bonus share issue, the first by the corporate entity in 12 years.
There was a double delight for the shareholders as the diversified conglomerate announced a dividend of Rs 13 a share. Announcing the 1:1 bonus share, RIL Chairman and Managing Director Mukesh Ambani said this is the country s largest bonus issue. ....

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