Reliance Infrastructure has announced that the board on 17 January 2012 has approved a scheme of arrangement for merger of Reliance Energy, Reliance Energy Generation, Reliance Goa and Samalkot Power, Reliance Infraventures and Reliance Property Developers 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 01 January 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.