The restructuring of gasification assets will unlock value, provide flexibility for Reliance Industries Limited (RIL).
Gasification Undertaking is proposed to be transferred, as a going concern on Slump Sale basis, by way of a Scheme of Arrangement.
The Appointed Date for the Scheme is March 31, 2022 or such other date as may be approved by the Board. The Scheme has been filed with both Mumbai and Ahmedabad NCLTs and will require approvals of Shareholders, Creditors and NCLT.
RIL said this in a presentation for Equity Shareholders and Creditors in relation to the Scheme of Arrangement between Reliance Industries Limited (RIL) & its shareholders and creditors and Reliance Syngas Limited (wholly owned subsidiary of RIL) & its shareholders and creditors.
