Mukesh Ambani's East West Pipeline begins its second round of restructuring

A petition will now be filed in the Ahmedabad Bench of the National Company Law Tribunal to get approval of the scheme from the company's creditors

Mukesh Ambani-owned East West Pipeline, earlier known as Reliance Gas Transportation Infrastructure, has initiated its second round of restructuring of the company by hiving off its investment division to Sikka Ports & Terminal, another personal investment company of the Reliance Industries chairman.

In 2012-13, East West Pipeline, which connects the Krishna-Godavari basin to Gujarat with a 1,386 km pipeline, transferred its investments to another personal investment company of Mukesh Ambani, Reliance Industries Holdings Pvt Ltd, under a complex restructuring of all Ambani’s personal entities, which entailed impairment of Rs 158 billion, mainly in notional losses.

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