CCI approves merger of R-Infra, subsidiaries

Competition Commission of India (CCI) has approved the proposal of Reliance Infrastructure (R-Infra) to merge five of its wholly-owned subsidiaries with itself. It has also approved the demerger of the container business of Reliance Infrastructure Engineers Pvt (RIEPL) from the company. The five subsidiaries are — Reliance Energy Ltd (REL), Reliance Energy Generation Ltd (REGL), Reliance Goa and Samalkot Power Ltd (RGSPL), Reliance Infraventures Ltd (RIVL) and Reliance Property Developers Ltd (RPDPL), CCI said in its order. "It is observed that for the financial year 2010-11, the turnover of REL, REGL, RGSPL, RIVL, RPDPL and RIEPL from business operations is either nil or negligible," the order said. It said these companies are either directly or indirectly wholly-owned subsidiaries of R-Infra and the ultimate control over them remains with it. These companies are currently not carrying out any business activities, the order said, however, RIEPL is engaged in engineering, design and consultancy services and in container train operation business.