Reliance demerger case adjourned

The Bombay High Court today adjourned the hearing on the proposed demerger of Reliance Industries till December 2.

Justice Nishita Mhatre adjourned the hearing following objection of a retail shareholder against the scheme of arrangement that proposed demerger of the group's power, financial services and telecom businesses from its oil and gas business as part of the settlement between the Ambani brothers "" Mukesh and Anil.

Justice Mhatre asked the shareholders to file the reply before the next hearing of the case.

Reliance Industries had received approvals from its shareholders and creditors for the scheme. The company received approvals from them at separate general meetings, which were held on the court's directive.

Alongside, the HC approved the merger of Videocon International with Videocon Industries.