The amalgamation of Indian Petrochemicals Corporation and India's leading private sector company, Reliance Industries, has become effective.
<p>According to Reliance Industries, the certified copies of the orders sanctioning the scheme of amalgamation, which were provided by the Gujarat and Bombay high courts, have been filed with the respective registrars of companies, making the scheme effective.<br /><br />The amalgamation of Indian Petrochemicals Corporation Limited (IPCL) with the company is in line with global trends in the energy and chemicals sector, to achieve size, scale, integration and greater financial strength and flexibility, in the interest of maximizing the overall shareholder value, Reliance said in a statement.</p>