Vedanta demerger gets NCLT nod

THE NATIONAL COMPANY Law Tribunal (NCLT) on Tuesday approved the long-pending demerger scheme of mining major Vedanta, clearing the way for the group to split into multiple sector-focused companies spanning aluminium, oil and gas, power, and iron and steel.

- RAGHAVENDRA KAMATH

"The sanction to the company scheme is granted," the Mumbai bench of the tribunal, comprising Charanjeet Singh Gulati and Nilesh Sharma, said, pronouncing the order.

The tribunal had reserved its decision after concluding hearings in November.

Following the news, the company's shares rose 4.20% to close at ₹572.50 on the NSE.