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 attached.
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Vedanta Limited has responded to NSE's clarification query on a recent news item about the company approaching the High Court over a 2011 arbitral award. The 2011 arbitral award had declared the transfer of BALCO (Bharat Aluminium Company) shares as void. Vedanta is now challenging this award in the High Court. The company's detailed response to the exchange has been attached to the filing.
This indicates ongoing legal uncertainty around the ownership/transfer of BALCO shares, which could materially affect Vedanta's stake in BALCO and its consolidated financials if the matter does not resolve in the company's favor. Shareholders should watch for further clarity from the High Court proceedings as it could impact the company's asset base.