Mumbai, Nov. 10 -- The city-based National Company Law Tribunal (NCLT) has approved Reliance Retail's plan to reorganise its consumer products business which is expected to result in shifting RIL's fast-moving consumer goods (FMCG) and brands division into a new arm called Reliance Consumer Products Limited.
According to an NCLT ruling, the reorganisation plan is expected to cover four Reliance companies namely, Reliance Retail Limited (RRL), Reliance Retail Ventures Limited (RRVL), Reliance Consumer Products Limited (RCPL) as well as Tira Beauty Limited (New RCPL).
As per the reorganisation plan, Reliance Retail's FMCG brands business will move to Reliance Retail Ventures, while the existing Reliance Consumer Products will merge with Rel...