Governance Scrutiny Mounts Over Reliance Industries’ Subsidiary Divestment Strategy
The Transaction Details Reliance Industries Limited (RIL) faced renewed governance scrutiny this April following the sale of a third-layer subsidiary, a transaction valued at ₹274 crore, to Jaipur Enclave, a firm identified as a former associate. Investigations have revealed that the conglomerate facilitated this acquisition by extending ₹273.75 crore in Optionally Fully Convertible Debentures (OFCD)…