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Sebi Issues Vedanta An Administrative Warning For Disseminating Information About “Unlisted Ultimate Holding” Company

<p>For releasing information about its unlisted ultimate holding company, Vedanta has received an administrative warning from SEBI. Additionally, the regulator requested that the business strengthen its internal control over corporate announcements by taking the required corrective action.</p>
<p><img decoding=”async” class=”alignnone wp-image-488404″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-sebi-issues-vedanta-an-administrative-warning-for-disseminating-information-about-.jpg” alt=”theindiaprint.com sebi issues vedanta an administrative warning for disseminating information about” width=”1203″ height=”713″ title=”Sebi Issues Vedanta An Administrative Warning For Disseminating Information About "Unlisted Ultimate Holding" Company 3″></p>
<p>Exchanges were informed by Vedanta that it had received a letter from NSE attaching a letter from Sebi containing an administrative warning against the company.</p>
<p>“The company has been instructed to present the aforementioned letter to its Board of Directors and implement the appropriate remedial measures to fortify the internal control surrounding corporate announcements and press releases,” Vedanta stated.</p>
<p>Sections 12A (a), (b), and (c) of the SEBI Act, 1992, as well as Regulations 3 (b), (c), (d), 4(1) & 4(2) (k) & (r) of the SEBI (PFUTP) Regulations, 2013, were found to be violated by Sebi with regard to Vedanta’s publication of information about its unlisted ultimate holding company.</p>
<p>According to the Vedanta, the warning will not have any measurable financial, operational, or other effects on the listed entity, as reported by Mint.</p>
<p>Vedanta Leverage Debt of $3 Billion<br />
Vedanta Resources, the parent company of the mining conglomerate, had earlier announced, reportedly, that it intends to pay down $3 billion in debt over the course of the next three years. In the upcoming years, the company does not anticipate any more loan rollovers.</p>
<p>Over the following three years, we would deleverage Vedanta Resources’ debt by $3 billion. For the fiscal year 2025, Vedanta Ltd.’s cash flow pre-growth capital expenditure is projected to be $3.5–4 billion, which will cover secured debt maturities of USD 1.5 billion, according to a PTI report citing Navin Agarwal, Vice Chairman of Vedanta Ltd. and a member of the Promoter Group.</p>

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