The shareholders and the creditors of private sector company Reliance Industries Limited (RIL) have approved a merger of the company with Indian Petrochemicals Corporation Limited. Only seven shareholders representing 0.0006% of the total value of shares voted against the scheme.

The company has filed a petition seeking approval from the High Court in Mumbai to sanction the agreement.

India’s largest privately-owned company RIL is involved in various industrial sectors including petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, oil and gas exploration and production, and retail.