Reliance Power ‘s Board of Directors at its meeting held on July 30, 2013, has approved, the Scheme of Amalgamation of Reliance Clean Power (the Transferor Company), its step down subsidiary Company with Reliance Power (the Transferee Company) under Sections 391 to 394 and other applicable provisions, if any, of the Companies Act, 1956.
At present, the entire existing paid-up capital of the Transferor Company is held by Reliance Power including through its wholly owned subsidiary, Reliance CleanGen Limited. Pursuant to the Scheme, no shares are proposed to be issued to the Transferee Company as the entire share capital of the Transferor Company would be held by the Transferee Company on or before the effective date.Further, the Company will not be filing any application with the High Court.
Reliance Power is a part of the Reliance Anil Dhirubhai Ambani Group and is established to develop, construct and operate power projects domestically and internationally.
