Reliance Infrastructure gets court approval for transfer of divisions to arm

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New Delhi | Published: January 19, 2017 6:31:22 PM

Bombay High Court has approved transfer of Reliance Infrastructure Ltd's four power divisions to its wholly-owned arm Reliance Electric Generation and Supply Ltd.

Internet of Things, commonly called IoT, is an emerging technology which provides seamless interaction between devices embedded with electronics such as television sets, refrigerators, and automobiles. (Reuters)Under the scheme, Mumbai Power Division, Samalkot Power Station Divison, Goa Power Station Division and Windmill Division of the infra major would be transfered to the subsidiary. (Reuters)

Bombay High Court has approved transfer of Reliance Infrastructure Ltd’s four power divisions to its wholly-owned arm Reliance Electric Generation and Supply Ltd.

“High Court of judicature at Bombay has allowed the Scheme of Arrangement between Reliance Infrastructure Ltd and Reliance Electric Generation and Supply Limited vide order dated January 19, 2017,” the company said in a filing to BSE.

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Under the scheme, Mumbai Power Division, Samalkot Power Station Divison, Goa Power Station Division and Windmill Division of the infra major would be transfered to the subsidiary.

The copy of the order is awaited, the filing added.

Reliance Infrastructure Ltd (RInfra) is one of the leading infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several sectors such as power, roads and metro rail in the infrastructure space and the defence sector.

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