The Congress and the BJP have worked together to receive funding from the Vedanta group.
The Congress and the BJP are blaming each other for giving environmental clearance to the controversial copper smelting plant owned by Sterlite Industries in Thoothukudi. But, the two parties are on the same page when it comes to receiving funding from the Vedanta group and its twin subsidiaries—Sterlite and Sesa. Vedanta’s charm was such that, in 2013, both the BJP and the Congress argued together in the Delhi High Court to continue receiving funding from Sterlite and Sesa.
Records with the Union home ministry show that Sterlite and Sesa are registered in India under the Companies Act, 1956. More than 50 per cent of their issued share capital is held by Vedanta Resources PLC, a company incorporated under the UK’s Companies Act, 1985, and registered in England and Wales under registration number 04740415. The controlling stake of more than 50 per cent is held by Anil Agarwal, an Indian citizen.
This story is from the June 10, 2018 edition of THE WEEK.
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This story is from the June 10, 2018 edition of THE WEEK.
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