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Vedanta's Agarwal fends off Viceroy's volleys
Business Standard
|July 11, 2025
Chairman vows transparency after US short-seller's allegations
Vedanta Chairman Anil Agarwal on Thursday vowed the company's unflinching commitment to transparency, a day after US-based short-seller Viceroy Research released a report accusing the group's London-based parent, Vedanta Resources Limited, of running a "ponzi-like" structure.
The report alleged widespread financial misconduct, accounting fraud, and rising insolvency risks across the conglomerate.
Addressing shareholders at the company's 60th annual general meeting (AGM), Agarwal said: "Regarding the report, we are extremely transparent. Disclosure and transparency are fundamental values for us, and they are our strength."
"This appears to be a motivated report, but we will address it," he added.
Vedanta Resources Chief Executive Officer (CEO) Deshnee Naidoo, said there is no information in the US-based short-seller Viceroy Research's report released on Wednesday, which India-listed Vedanta Ltd has not voluntarily shared previously.
Cette histoire est tirée de l'édition July 11, 2025 de Business Standard.
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