Mumbai, Dec. 3 -- Reliance Retail here today announced through a stock exchange filing that it has completed its restructuring process and transferred its fast moving consumer goods (FMCG) business to a new entity called New Reliance Consumer Products Ltd (New RCPL).
The company informed the exchanges that the composite scheme of arrangement involving its group companies has become effective from December 1.
According to the scheme of arrangement, Reliance Retail (RRL), Reliance Retail Ventures (RRVL), Reliance Consumer Products (RCPL) and Tira Beauty will be renamed as New RCPL, while RCPL, which is a subsidiary of the company, stands dissolved as of December 1.
New RCPL will be a direct subsidiary in which the Mukesh Ambani-led Relianc...