Reliance Infra demerger plan to be pushed to next fiscal

Firm moves HC, says unlikely to get lender, regulatory consent by May deadline

The Anil Ambani-promoted Reliance Infrastructure (RInfra) is likely to postpone its demerger plan to the next financial year. The company has moved the Bombay High Court, which is hearing its scheme of arrangement, seeking a change in the effective date of plan to April 1 this year.
 
The earlier date was April 1, 2016. After the scheme is approved, it would take effect in financial year 2017-18 (FY18). The court is likely to take up the matter early next week.
 
The Rs 6,282-crore restructuring scheme, by which RInfra plans to hive off its power generation and distribution facilities