Vedanta Limited has informed the Exchange regarding Cessation of Ms Pallavi Joshi Bakhru as Independent Director of the company w.e.f. close of business hours on April 30, 2026.
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Vedanta's Board approved multiple changes at its April 29, 2026 meeting. M/s M S K A & Associates LLP has been appointed as the new Statutory Auditor for a 5-year term (until the 66th AGM), replacing S.R. Batliboi & Co. LLP which has completed its maximum two consecutive terms as required by the Companies Act, 2013. Independent Director Ms. Pallavi Joshi Bakhru will step down on April 30, 2026, to avoid a conflict of interest — she is a Designated Partner at Grant Thornton Bharat LLP, while another Grant Thornton member firm (Walker Chandiok & Co LLP) is being proposed as auditor for some Vedanta group companies. Former RBI Executive Director Dr. Meena Hemchandra has been appointed as a Non-Executive Independent Director for a one-year term starting May 1, 2026. The Board also revised the Dividend Distribution Policy effective FY 2027, aligned with the ongoing demerger scheme, emphasising structured shareholder returns balanced with deleveraging and growth priorities.
These are governance-positive, largely routine changes. The director swap proactively addresses an independence conflict rather than reflecting any governance concern, and the incoming director brings strong regulatory and banking expertise. The revised dividend policy signals a more disciplined capital return framework post-demerger, relevant for income-focused shareholders awaiting clarity on the demerged structure.