RInfra takes control of Pipavav

Reliance Infrastructure Ltd (RInfra) of the Anil Ambani Group took over the management control of Pipavav Defence & Offshore Engineering on Monday. RInfra along with its special purpose vehicles are the new promoters and the company will be renamed as Reliance Defence and Engineering Ltd. Vice-Admiral (Retd) HS Malhi, who is the former Chairman and Managing Director of Mazagon Dock Ltd, has been appointed as the whole-time director and Chief Executive Officer of the company. RInfra will hold 36.5 per cent stake in the company. Anil Ambani has taken over as the Chairman of the company. The company has also appointed Air Chief Marshal (Retd) Fali Major and Lt Gen (Retd) Syed Ata Hasnain as independent directors.