The Exchange has sought clarification from Vedanta Limited with respect to recent news item captioned Vedanta moves HC over 2011 arbitral award declaring Balco shares transfer as void.. The response from the Company is awaited.
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The National Stock Exchange has asked Vedanta Limited to clarify a recent news item about the company approaching the High Court against a 2011 arbitral award that declared the transfer of BALCO shares as void. BALCO stands for Bharat Aluminium Company, in which Vedanta holds a stake. Vedanta's official response to the exchange is still awaited. Until the company responds, the full facts and the company's position on the matter are not confirmed. Shareholders should watch for the company's clarification before drawing conclusions about the impact.
No immediate impact on shareholders or stock price is expected until Vedanta submits its clarification and clarifies its legal position. An adverse outcome of the High Court challenge could potentially affect Vedanta's ownership claim over BALCO shares.