Venture Intelligence (TSJ Media Pvt. Ltd.)
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Sebi bars entire board of Vedanta Ltd from mkt; asks the co to pay Rs.78-Cr to Cairn
Capital markets regulator Sebi has ordered mining conglomerate Vedanta Ltd to pay INR 77.62 crore to Scottish explorer Cairn for delay in payment of dividends, and also barred the firm's entire board, including the founder Anil Agarwal’s brother Navin Agarwal and daughter Priya Agarwal, from accessing the capital market.Vedanta had in 2011 bought Cairn Energy PLC's majority stake in its Indian arm, Cairn India Ltd. Cairn continued to hold a minority stake in Cairn India, which was subsequently merged into its parent and Mumbai-listed Vedanta Ltd.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.