Gujarat / Reliance Industries moves registered offices of five subsidiaries to Gujarat

Livemint : May 13, 2019, 12:17 PM

Reliance Industries' (RIL) has moved registered offices of five of its subsidiaries — four telecom and one investment arm — to Ahmedabad, Gujarat, over the last one year.

The telecom subsidiaries include — Reliance Jio Messaging Services Ltd, Reliance Jio Infratel Private Ltd, Reliance Jio Infocomm Ltd, and Reliance Jio Digital Services Ltd. The registered office of the investment arm Reliance Industrial Investments and Holdings Ltd (RIIHL), which serves as a vehicle to invest in various business ventures of RIL, has also been moved to Gujarat. Prior to the shift, all these companies had their registered offices in Mumbai.

RIL did not respond to an email sent on Friday.

"Gujarat is where RIL began its journey from and we thought we should give something back to the state. Thus we decided to move the registered offices to Gujarat," said a senior official from RIL.

The Mukesh Ambani-led Reliance Industries has roots in Gujarat, with even some other companies headquartered there earlier, but for long no new entity has been launched from the state.

An alteration of the Memorandum of Association of the companies incorporated in Mumbai has already been executed, said the official quoted above.

Over the past year, RIL and its units including RIIHL have been acquiring stakes in various ventures. According to RIL’s website, the company over the past year has either acquired or entered into partnerships with more than 30 entities to expand operations of Reliance Jio Infocomm Ltd and Reliance Retail Ltd.