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Our Bureau

Mumbai , Dec. 28

THE board of directors of Reliance Capital Ltd will meet on January 2 to consider amalgamation of Reliance Capital Ventures with itself.

On January 3 the board of directors of Reliance Energy too will meet to consider a proposal for the amalgamation of Reliance Energy Ventures with itself.

This is part of the process set in motion for reorganisation of the Reliance Group which will see shareholders of Reliance Industries get shares in Reliance Capital Ventures Ltd (RCVL), Reliance Energy Ventures Ltd (REVL), Reliance Communication Ventures Ltd and Global Fuel Management Services Ltd.

All these companies will be part of the Anil Dhirubhani Ambani (ADA) Enterprises group, headed by Mr Anil Ambani.

RCVL is a holding company and currently holds 29 per cent of the share capital of Reliance Capital; similarly REVL holds around 45 per cent equity stake in Reliance Energy Ltd.

The board approvals will be subject to other required permissions, sanctions and approvals, including approval by the shareholders of both Reliance Capital and Reliance Energy, said a notice sent to the stock exchanges by the companies.

Reliance Communications Ventures is the holding company of Reliance Infocomm, which is not a listed company.

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