Reliance Ports board approves RPMSPL amalgamation with itself

Reliance Ports and Terminals (RPTL) today said its board has approved amalgamation of Reliance Property Management Services (RPMSPL) with itself.
"The Board of Directors of the Company at its meeting held on September 25, 2014, inter alia, approved amalgamation of RPMSPL, wholly-owned subsidiary of the company with the company," Reliance Ports said in a filing to the BSE.
The approval was given in terms of the draft scheme of amalgamation of RPMSPL with RPTL pursuant to the provisions of of the Companies Act, 1956, it said.
The company said the scheme shall be subject to necessary approvals and sanction of the High Court, as applicable.

Reliance Port and Terminals is a part of Mukesh Ambani-led Reliance Industries.