Reliance Communications has got the approvals from markets regulator SEBI and the stock exchanges for proposed demerger of its wireless business into Aircel Ltd.

The company has said in a regulatory filing that “Reliance Communications has received approval of the Securities and Exchange Board of India (SEBI), BSE and NSE for the proposed scheme of arrangement for demerger of the wireless division of the company into Aircel Ltd and Dishnet Wireless Ltd.”

It added that “Pursuant to the same, Reliance Communications has filed an application with National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the said Scheme. The proposed transaction is subject to other necessary approvals.”

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