TITLE

Reliance merges six units to save taxes

AUTHOR(S)
Lazell, Mark
PUB. DATE
May 2006
SOURCE
ICIS Chemical Business;5/1/2006, Vol. 1 Issue 17, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
20864657

 

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