This has been listed and postponed again to later dates, does anyone understand how the system work? Later will only make the matter worse, it already passed the previously set de-merger deadline
No, Vedanta paid SEPCO to settle this dispute, very likely the compensation is 1245 crore over this long dispute
Demerger is going nowhere this year, the CEO has already confirmed the delay til the end of the year. And currently Government and SEBI are still against the demerger. Unless these can be solved instantly, this is not happening this year I am concerned.
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.
This Group keeps teaching me new things.
This group, had taught me one lesson during Corona (delisting of Vedanta time) - Study about Management/Owners before Investing. I had earlier thought this concept was
a farce.
Now This group taught me another lesson, do not go by news and sell or do anything, let the story unfold and then take a informed decision. Although not invested, I thought when the news broke everything will collapse in one months time. On the contrary, nothing of this sort happened. Inspite of damning report on the Group, the share price did not show any downfall.
One of the reason attributed was most of the promoter stock was pledged and large Institutional Investor do not panic on such news and sell. Retail holding is comparatively smaller, I am told.
Could be - But the important take away for me is not to sell anything in panic…
Hate this group, but taught me two important lessons in investing.
This is a sample of one. We cannot take such lessons from the market.
Next time similar thing happens, perhaps it crashes.
See how adani crashed 1st time we got an unexpected news.
We don’t get fixed rules like this from market.
ofc, dont sell in panic, but that does not mean dont sell quickly which i think is what you meant as well.
1st lesson is obviously alright.
It’s honestly disappointing how the market seems disconnected from the gravity of certain reports or revelations. The Viceroy Research report, for example, did uncover some serious concerns about corporate governance and regulatory loopholes that should ideally prompt deeper scrutiny. But instead of a sharp correction, the market stayed surprisingly resilient, which can be confusing for retail investors like us who expect transparency and accountability to reflect in price action.
When promoter holdings are heavily pledged and institutions hold the bulk of the float, the reaction to negative news can be muted , not because the issues aren’t real, but because the selling pressure isn’t immediate.
Still, I think the bigger takeaway is what you said: don’t act in panic. Let the full story unfold, study the fundamentals, and make informed decisions. As retail investors, we often don’t have access to the same depth of information or influence, so staying calm and analytical is our best defense.
We all want a cleaner, more transparent market, and hopefully, reports like this push regulators and companies to raise the bar. Until then, we keep learning, stay cautious, and invest wisely.
I think we got a huge progress now, check the new report:
VRL’s and HZL’s disclosures confirm active investigations from SEBI and another regulator, understood to be the Enforcement Directorate.
In its September 30, 2025 Bond Prospectus, Vedanta Resources Limited (VRL) was forced to disclose that the Group had been subject to “Summons” from SEBI based on Viceroy’s research. VRL implied that the investigation had been concluded because “no further communication [had] been received thereafter”.
However, the disclosure required by the auditors of HZL’s Q2 FY26 accounts shows this to be untrue. It reveals that more than one regulator (understood to be the ED in addition to SEBI) were continuing their investigations into October: “subsequent to the quarter”.
This should be a super solid confirmation of active investigations from not just SEBI but also ED. I wonder when the results will come out.
Yes the trend is actually funny 
. Vedanta shares so resilient!
One thing is that those US sellers are not targeting the stocks, they are targeting the parent company’s bonds, which are more relevant to the debt repayment ability and longer-term horizon compared with stock, the problem is Vedanta’s ponzi scheme and debt repayment methods are not sustainable and it may collapse. It is actually shocking to see how everyone just doesn’t care about conglomerate’s misconducts, and how regulators have been inactive. Good to see that actions are being taken. But still, as others said here, probably not trade in panic, but do trade with caution.
SEBI puts Vedanta Group’s Sterlite Electric public listing on hold
This is a clear sign now. Also check this, quoted from the report they published in the morning:
Under General Order No. 1 of 2020, SEBI must place an issue in abeyance if there is:
Probable cause for investigation or enquiry.
An ongoing investigation or enquiry into the entity.
Non-compliance with SEBI directions.
A show-cause notice in process, especially under Section 11B – Serious Fraud or Mismanagement.
Notably the SEBI General Order applies when regulatory action is against the issuer’s promoters, directors, or group companies.
This action is neither technical nor voluntary, but procedural under SEBI law. It confirms an active investigation or enforcement action involving Vedanta Resources Limited and its subsidiaries.
Vedanta Resources Limited and its subsidiaries have consistently downplayed the risk of regulatory intervention despite significant non-compliance across its operations. The abeyance order removes all doubt: regulatory risk to Vedanta Resources is intensifying.
Put it in a funny way Vedanta Limited is like a child with toxic, abusive parents (Vedanta Resources), it could have grown up healthily and become more successful, but the school teachers and the child protection center (SEBI, ED, RBI…) is either not aware of this, or they decided not to save this child
But now they are acting, finally, give us back a healthier Vedanta Limited
Market regulator Securities and Exchange Board of India (Sebi) has put Sterlite Electric’s Initial Public Offering (IPO) on hold following allegations by US-based short seller Viceroy Research against parent Vedanta Group, two people with direct knowledge of the matter have told Moneycontrol.
This is big news!
Vedanta Limited
A series of reports has been released by a short seller alleging certain matters against the Vedanta Group. SEBI vide its email dated August 21 2025, has demanded the production of information and documents from Vedanta Limited, for the transactions alleged in the short seller reports, before the investigating authority, under Sections 11(2) and 11C(2), (3) of the SEBI Act. Vedanta Limited was required to submit such documents by August 28, 2025, and it has responded to SEBI pursuant to its letter dated August 28, 2025. The matter is currently pending.
Hindustan Zinc Limited
A series of reports has been released by a short seller alleging certain matters against the Vedanta Group. SEBI vide its email dated August 18, 2025 and September 4, 2025 has demanded the production of information and documents from Hindustan Zinc Limited, for the transactions alleged in the short seller reports, before the investigating authority, under Sections 11(2) and 11C(2), (3) of the SEBI Act. Hindustan Zinc Limited was required to submit such documents by August 25, 2025 and September 12, 2025, which has been responded to SEBI on August 25, 2025 and September 12, 2025.
Quoted from the Sterlite Electric IPO prospectus, also said in the news. Seems pretty clear that they are not disclosing any of these just to keep us investors from the reality, if no one exposed these, this Friday they can pretend nothing happened in their earnings call and investors will be misled again like always.
The earnings call drama, is that a sign of storm coming?
Despite claiming “record revenues,” Vedanta is hiding a collapse in free cash flow, eroding margins, and a balance sheet propped up by debt.
Dividends are now funded entirely by debt, $1,049m FCF shortfall vs. dividends paid, covered by $1,093m in new borrowing. VRL has finally cut dividend guidance to 4–5%, down from ~17% since FY22.
Governance is collapsing, VRL admitted its London office is vacant and now operates from Anil Agarwal’s residence. “Brand fees” paid by Vedanta limited are likely fictional — this could be tax fraud.
Regulatory scrutiny is intensifying! Vedanta limited formally acknowledged receiving “summons for production of documents from the regulators”, a compulsory legal escalation that directly references concerns raised in Viceroy’s reports.
Be alert. The dividend bait is gone, and the risks are real.
Singapore is investigating closely to this issue. Also it’s confirmed that they under active investigation by SEBI, the ED, ICAI, the RBI, and the SPF’s CAD.
Viceroy also posted that National Crime Agency in the UK is involved, so is this in relation to their operations in the UK? It’s confirmed by the CEO herself that they don’t operate in the London office they stated in the report, and said their operation is at Anil’s personal residence? That’s how they are playing around in the two jurisdictions. Our Indian money has been sent to his luxury mansion in London.
Damn all this, and VEDL is still rising. Someone is pumping the stock so they can exit. The retailers buying are going to get stuck. Glad I exited it long back. Do regret not waiting till it crossed 500, but still. It could have gone the other way to 300 too lol
I remember seeing that they published this ED summons in 2023 a few months ago, it’s real. All evidence are out now, ED will take actions soon.
Quote:
The summons was issued regarding the Foreign Exchange Management Act, 1999, a formal enforcement action, not a routine inquiry.
In 2023 Vedanta assured regulators that services were rendered from a functional London office. They helped the Company escape with a relatively light consequence: a $123m rebate
In 2025, the ED are investigating Vedanta again. Vedanta has since admitted that there is no London office, and services are rendered in India by Vedanta Limited. We were informed by former employees that the fee for those services is ~$200,000 per annum.
This time regulators are unlikely to accept Vedanta’s token compliance to justify hundreds of millions in overseas payments.