RIL withdraws merger of Reliance New Energy Limited with itself

Reliance Industries Limited (RIL) has withdrawn the scheme of amalgamation of its renewable energy arm, Reliance New Energy Limited (RNEL) with itself.

Based on a review of the new energy / renewable energy business and investment structure, the board has decided that the new energy / renewable energy business should be undertaken through RNEL and the scheme of amalgamation be withdrawn. The scheme was pending with the National Company Law Tribunal, Mumbai Bench for approval.