Reliance Industries’ (RIL) arm -- Reliance Strategic Business Ventures (RSBVL) has increased its stake in US-based SkyTran Inc to 17.37 per cent. In October last year, Reliance Industrial Investments and Holdings (RIIHL), a wholly-owned subsidiary of the company, had acquired 12.7 per cent stake in SkyTran Inc.
Pursuant to a composite scheme of arrangement approved by the National Company Law Tribunal, Ahmedabad Bench, the investment in SkyTran by RIIHL has been now vested in RSBVL.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
