Vedanta share price cracks 4% on reports of govt raising objections over Anil Agarwal-led company’s demerger plans
Shares of Vedanta tanked nearly 4% in intraday deals on Wednesday, September 17, amid reports that the government has doubled down on its argument against the Anil Agarwal-led company’s demerger plans during a hearing at the National Company Law Tribunal (NCLT) today.
According to a CNBC TV-18 report, the government has raised numerous objections to Vedanta’s demerger plans, ranging from financial risks post the demerger, insufficient disclosure of liabilities, misrepresentation of hydrocarbon assets, to violation of market regulator Sebi’s disclosure norms.
The report further added that the government has raised concerns that the demerged company, Malco Energy, might end up in liquidation, which would make it nearly impossible to recover…
