Friday, October 21 2005 15:12 Hrs (IST) - World Time -

Mumbai: The extra ordinary general body meeting of shareholders of Reliance Industries Limited (RIL) began here today (Oct 21, 2005) to vote for the proposed change in the share holding pattern following a spilt between the two brothers Mukesh and Anil Ambani.

The shareholders are expected to vote for proposed change in shareholding pattern whereby a shareholder having one share of RIL will be entitled to get one share each in all new four entities sought to be created.

The new entities are Reliance Communication Ventures Ltd, Reliance Energy Ventures Ltd, Reliance Capital Ventures and Global Fuel Management Services Ltd.

The meeting, which began at 11 am is chaired by former Judge of High Court Justice M L Pendse.

Mukesh Ambani who attended the meeting is supposed to interact with shareholders during the proceedings. The Bombay High Court had on September 16 gave nod to a committee formed by RIL on the demerger of the group companies for settlement between the siblings.

Earlier, in a move to bring about its stamp of approval on the demerger.

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 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.