Reliance to transfer all consumer business from Retail to new RCPL

NEW DELHI: Reliance Retail is transferring its consumer goods business to a new entity, Reliance Consumer Products Ltd (RCPL).

As per the scheme filed before the NCLT, Reliance is transfering and vesting the FMCG brands business from Reliance Retail Ltd (RRL) to a new entity named New Reliance Consumer Products Ltd (New RCPL).

The Mumbai bench of the National Company Law Tribunal (NCLT) on June 25 asked to convene a meeting for approval of the internal restructuring process, under which its consumer business is transferred as a going concern on Slump Sale.