Reliance merges six units to save taxes

Lazell, Mark
May 2006
ICIS Chemical Business;5/1/2006, Vol. 1 Issue 17, p12
Trade Publication
The article reports on the plan of Indian Petrochemicals Corp. Ltd. (IPCL), the subsidiary of Indian major Reliance Industries, to merge with six polyester subsidiaries that are part of Reliance group. The merger should enable the units to save excise duty and other taxes on the transfer of intermediates from petrochemical complexes of IPCL. The companies to be merged are Appollo Fibres, Orissa Polyfibres, Silvassa Industries, Central India Polyesters, India Polyfibres and Recron Synthetics.


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