Reliance Petroleum with itself has been approved by its shareholders
and creditors.
In a court-convened meeting of equity shareholders and secured and
unsecured creditors of RIL held here on Saturday, 98.86 per cent of
the shareholders present in person or proxies voted in favour of the
scheme of amalgamation.
Shareholders representing a marginal 0.0002 per cent of the total
value of shares voted against the scheme.
Following the share-swapping, RIL would have 3.7-million shareholders
and the promoters holdings, including that of its Chairman Mukesh
Ambani, will fell by 2 per cent to 47 percent.
News Source: TOI
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