Rel Cap's arm files merger petition in Bombay High Court

Anil Ambani group company Reliance Commercial Finance Pvt Ltd (RCFPL) has moved the Bombay High Court seeking approval for the merger with Reliance Capital.

Mumbai: Anil Ambani group company Reliance Commercial Finance Pvt Ltd (RCFPL) has moved the Bombay High Court seeking approval for the merger with Reliance Capital.
    
"Reliance Commercial Finance Pvt Ltd (RCFPL), a wholly owned subsidiary of Reliance Capital Ltd (RCL), has filed a petition in the High Court of Judicature at Bombay for merging itself with RCL," Reliance Capital said in a filing to the Bombay Stock Exchange Thursday.
    
RCFPL's entire issued, subscribed and paid-up share capital is held by RCL, which is why, there will be no change in the share capital of the latter, pursuant to the scheme, which is subject to the approval of the High Court of Judicature at Bombay, the filing added.
    
Shares of Reliance Capital settled the day at Rs 559.70, down 3.43 percent from previous close on BSE.

PTI

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