Tuesday, September 13 2005 12:34 Hrs (IST) - World Time -

Mumbai: Moving a step further in effecting the settlement between the Ambani brothers, Reliance Industries, headed by elder sibling Mukesh, has filed the demerger scheme in the Bombay High Court seeking approval.

Reliance Industries Limited (RIL) filed the demerger scheme in the High Court for necessary approvals yesterday, sources said. However, RIL spokesperson could not be contacted for comments.

After the announcement of settlement on June 17, the RIL Board had on August 5 approved the demerger scheme under which all RIL shareholders will get one share each in the four new companies with effective from September one.

The RIL Board had also announced creating four demerged companies Reliance Communication Ventures Ltd, Reliance Energy Ventures Ltd, Reliance Capital Ventures and Global Fuel Management Services Ltd, slated to go to Anil Ambani.

The settlement of ownership of Reliance Empire has been virtually completed with Mukesh getting the flagship company RIL along with IPCL and Anil getting Reliance Infocomm, Reliance Energy and Reliance Capital.