Chairman Mukesh Ambani had last August announced Reliance Industries' plan to sell 20% stake in its refining and petrochemicals business for $15 billion to Saudi Aramco MUMBAI : Reliance Industries today said that in spite of the covid-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the oil to chemicals (O2C) business is on track as both the parties are committed and actively engaged. "The company has approved a scheme of arrangement for transfer of oil to chemicals (O2C) Undertaking (as defined in the Scheme) of the company to Reliance O2C Limited as a going concern on slump sale basis for a lump sum consideration equal to the income tax net worth of the O2C Undertaking as on the appointed date