Mumbai, Dec. 21: Reliance Industries’ demerger scheme came into effect today after the company filed the certified copy of the Bombay High Court order with the Registrar of Companies (RoC).

Bombay High Court sanctioned the demerger scheme on December 9 and had directed Reliance to approach the RoC within 30 days.

Reliance today informed the bourses that Bombay High Court had sanctioned the scheme of arrangement between the company and Reliance Energy Ventures, Global Fuel Management Services, Reliance Capital Ventures and Reliance Communication Ventures.

“The certified copy of the order has been filed with the RoC on December 21 and, therefore, the scheme becomes effective from this day,” the company said.

Reliance Industries officials did not comment on the next course of action. However, the board of Reliance is expected to meet soon. Observers expect the listing process of the demerged entities to be completed by January 31, 2006.

On December 9, Bombay High Court rejected objections raised by a minority shareholder and approved the demerger scheme.

The lone dissenting shareholder, Kalpesh Bharatkumar Mankad, sought a stay for six weeks on the high court order so that he could file an appeal with a higher court, but Justice Nishita Mhatre turned down his appeal.

Mankad had earlier said he was not opposed to the demerger scheme, but he objected to the way in which it was being implemented.

The demerger scheme was cleared by more than 99 per cent of Reliance shareholders at an extraordinary general meeting held on October 21.

Reliance moved court on September 13, seeking approval for the scheme. On the court’s direction, an extraordinary general meeting was convened under the chairmanship of retired Judge M.L. Pendse.

Meanwhile, the Reliance counter witnessed huge block deals on the National Stock Exchange (NSE) today.

Close to 4.94 crore Reliance shares were transacted and the size of the deals is estimated to be over Rs 4,240 crore. Brokers said almost 3.5 per cent of Reliance’s equity changed hands. The block deals accounted for almost 40 per cent of NSE’s cash segment.

The buyers included Bhumika Trading Private Limited, Ekansha Enterprise Private Limited and Eklavya Mercantile Private Limited. Reliance shares were bought in the price range of Rs 853-858 per share.