RIL announces allotment ratios in Anil Ambani group companies
22 Dec 2005
Reliance Industries has informed the BSE that in accordance with the scheme of arrangement sanctioned by the Bombay high court on December 9, 2005, () that Reliance Energy Ventures Ltd, Global Fuel Management Services Ltd, Reliance Capital Ventures Ltd and Reliance Communication Ventures Ltd will issue and allot to each eligible RIL shareholder (except for the specified shareholders as defined in the scheme of arrangement) whose name is recorded in company's registers on the record date (January 25, 2006) equity shares in the following ratios:
- One equity share of Reliance Energy Ventures Ltd of the face value of Rs10 each credited as fully paid up for every one fully paid-up equity share of Rs10 held by them or their heirs, executors, administrators or successors in the company.
- One equity share of Global Fuel Management Services Ltd of the face value of Rs5 each credited as fully paid up for every one equity share of Rs10 each fully paid-up held by them.
- One equity share of Reliance Capital Ventures Ltd of the face value of Rs10 each credited as fully paid up for every one fully paid-up equity share of Rs10 held by them.
- One equity share of Reliance Communication Ventures Ltd of the face value of Rs5 each credited as fully paid up for every one fully paid-up equity share of Rs10 held by them.
The formation of these four companies was announced by Anil Ambani as the constituents of his ADAE Group in June this year as a settlement for the control over the enterprises of the Rs99,000-crore business empire.
Reliance Infocomm (now Reliance Communication Ventures Ltd) and Reliance Energy had became the two major areas of dispute between Mukesh and Anil Ambani, which was resolved with the latter gaining control of the two companies along with Reliance Energy Ltd and Reliance Capital Ltd, both the companies he was publicly associated with.
