Retired Judge M L Pendse will submit a report to the high court conveying the decision of extraordinary general body meeting of RIL shareholders approving the demerger scheme.
The court had earlier appointed a committee headed by retired High Court Judge M L Pendse to preside over the EGM of RIL shareholders to approve the demerger scheme. At the EGM, majority shareholders of RIL had approved the demerger scheme.
In a statement on October 24, RIL claimed that 99.9998 per cent of its total equity shareholders had voted in favour of its demerger scheme.
The company said 100 per cent of the secured creditors, 100 per cent of the unsecured creditors and 99.81 per cent of the total number of shareholders present in person as well as proxies voted for the scheme during the meeting held on October 21.
The shareholders approved the scheme, which envisages change in the share holding pattern whereby a shareholder having one share of RIL will be entitled to get one share each in all new four entities sought to be created.
The new entities are - Reliance Communication Ventures Ltd, Reliance Energy Ventures Ltd, Reliance Capital Ventures and Global Fuel Management Services Ltd.
Earlier, in a move to bring about settlement between the Ambani brothers, the RIL headed by elder scion Mukesh moved the Bombay High Court on September 13 seeking its stamp of approval on the demerger.
The court, on September 16, gave its nod to the committee formed by RIL on demerger of the group companies as settlement between the siblings.
After the announcement of settlement on June 17, the RIL board had on August five approved the demerger scheme under which all RIL shareholders will get one share each in the four new companies with effective from September 1.
The settlement of ownership of Reliance empire has been virtually completed with Mukesh getting the flagship company RIL along with IPCL and Anil getting Reliance Infocomm, Reliance Energy and Reliance Capital.
