The Reserve Bank of India (RBI) has referred the Vedanta Group to the Directorate of Enforcement (ED) for investigation under the Foreign Exchange Management Act (FEMA). Viceroy Research received official confirmation on September 23, 2025, following detailed submissions relating to unlawful fund expatriation, tax evasion, and regulatory evasion.
ED is investigating one this, that’s why there’s a sharp drop just now. The hype on proposed bond sale didn’t sustain and the momentum on positive zinc and copper price rally is limited.