In what could throw a spanner in merger between Reliance Petroleum and Reliance Industries, a shareholder in both companies has moved the Bombay High Court opposing the amalgamation and has alleged diversion of funds from RPL to RIL. Levelling allegations of financial mismanagement by RIL Chairman Mukesh Ambani, shareholder Anup Kumar Sheth in his petition has sought a court directive to SEBI, RBI and other financial governing bodies before sanctioning the merger. The boards of both the companies in March approved the merger in 1:16 ratio, which would creat the biggest petrochemical plant in India. In April, the merger was approved by shareholders and creditors of both the companies with a vast majority. […]