Reliance Industries Ltd and Reliance Petroleum amalgamation was approved by the Bombay High Court on Monday however stayed the order to allow those who are in opposition of the merger to issue a petition. 
The objectors had asked High the Court to order inquiry by RBI, SEBI and other financial governing units before approving the amalgamation.
Reportedly, shares valuation for reaching at exchange ratio for the purpose of amalgamation was not just as numerous financial facets were not considered. The valuation also ignored various facts and state of affairs and assets and liabilities.
However, the High Court on Monday sacked these objections and sanctioned the amalgamation.