RELIANCE CAPITAL LTD. - Outcome of Board Meeting - Reliance Capital Board approves Transfer of Commercial Finance Division into a Separate Wholly Owned Subsidiary

Reliance Capital Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 25, 2016 has approved a Scheme of Arrangement for demerger of Commercial Finance Division of the Company into its wholly owned subsidiary, Reliance Gilts Limited (proposed to be changed to "Reliance Commercial Finance Limited"), subject to requisite approvals.<BR><BR>In this regard, the Company has issued a Media Release dated February 25, 2016 titled "Reliance Capital Board approves Transfer of Commercial Finance Division into a Separate Wholly Owned Subsidiary".