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Reliance O2C split off : A de facto delisting at tax net worth

March 10, 2021[2021] 125 taxmann.com 162 (Article)
RIL’s split off and transfer of Refining and Petrochemical business to a newly created private company Reliance O2C is targeted to facilitate 20% stake sale at a reported valuation of USD15 million to Saudi Aramco. The split off action has been recently triggered by virtue of convening a meeting of shareholders and creditors scheduled on 21 March 2021.
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