M&A

M&A

Undone: RIL withdraws merger of Reliance New Energy with itself

Economic Times  

Reliance Industries Ltd (RIL) has withdrawn the merger of its renewable energy arm, Reliance New Energy Ltd (RNEL) with itself. RNEL is a wholly-owned subsidiary of the company. It has been decided that the new energy / renewable energy business should be undertaken through RNEL. In May 2021, the company's board had approved the scheme of amalgamation. The scheme is presently pending with the National Company Law Tribunal, Mumbai Bench for approval.