Reliance Infrastructure Ltd has announced that the Board of Directors of the Company, on January 17, 2012, has approved a Scheme of Arrangement for merger of Reliance Energy Ltd, Reliance Energy Generation Ltd, Reliance Goa and Samalkot Power Ltd, Reliance Infraventures Ltd and Reliance Property Developers Ltd as also demerger of the container business undertaking of Reliance Infrastructure Engineers Pvt Ltd with the Company ('the Scheme') under sections 391 to 394 of the Companies Act, 1956, with the Appointed Date as January 01, 2012, subject to obtaining the requisite approvals including that of the Bombay High Court.
As per the Scheme, no shares are proposed to be issued as the Transferor Companies and the Demerged Company are wholly owned subsidiaries of the Company.