The National Company Law Tribunal (NCLT) MUMBAI has allowed Reliance Industries to withdraw its proposal to demerge its oil-to-chemicals (O2C) business, which effectively rings down the curtain on a two-year-old saga surrounding the Mukesh Ambani-owned. company’s relentless pursuit of an investment deal with Aramco of Saudi Arabia. The Ambanis have been in negotiations with Aramco since the middle of 2019
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