bThe shareholders and the creditors of Reliance Petroleum Limited (RPL) approved the Scheme of Amalgamation of RPL with Reliance Industries Limited (RIL).
In the Court convened Meeting of Equity Shareholders, Secured Creditors and Unsecured Creditors of RPL held on Thursday, April 9, 2009, 99.745% of the shareholders present in person/proxies, representing 99.9999% of the total value of the equity shares held by them, voted in favour of the Scheme of Amalgamation.
Shareholders representing 0.0001% of the total value of shares voted against the Scheme. 100% of the Secured and Unsecured Creditors present in person/proxies voted in favour of the Scheme of Amalgamation.
Reliance Petroleum Limited
Reliance Petroleum Limited (RPL) is a subsidiary of Reliance Industries Limited. RPL was formed for setting up a greenfield petroleum refinery and polypropylene plant in a Special Economic Zone at Jamnagar in Gujarat and has commenced refining of crude. With an annual crude processing capacity of 580,000 barrels per stream day (BPSD), RPL will be the sixth largest refinery in the world.
Reliance Industries Limited
Reliance Industries Limited (RIL) is India's largest private sector company on all major financial parameters with a turnover of Rs. 1,39,269 crore (US$ 34.7 billion), cash profit of Rs. 25,205 crore (US$ 6.3 billion), net profit (excluding exceptional income) of Rs. 15,261 crore (US$ 3.8 billion) and net worth of Rs. 81,449 crore (US$ 20.3 billion) as of March 31, 2008.
RIL is the first private sector company from India to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 103rd amongst the world's Top 200 companies in terms of profits. RIL is amongst the 30 fastest climbers ranked by Fortune. RIL features in the Forbes Global list of the world's 400 best big companies and in the FT Global 500 list of the world's largest companies. RIL ranks amongst the 'Worlds 25 Most Innovative Companies' as per a list compiled by the US financial publication-Business Week in collaboration with the Boston Consulting Group.