NCLT approves demerger of financial services unit of Reliance

PTI

Updated At : 12:33 PM Jul 07, 2023 IST

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New Delhi, July 6

Reliance Industries Ltd (RIL) on Thursday said the National Company Law Tribunal (NCLT) has given its nod to the demerger of the company’s financial services undertaking and its listing.

Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL).

“We wish to inform you that the National Company Law Tribunal, Mumbai Bench (NCLT), vide its order dated June 28, 2023, has sanctioned the Scheme,” it said in a stock exchange filing.

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