Vedanta Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ( SEBI Listing Regulations )'.
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Vedanta Limited has obtained an independent legal opinion from former Chief Justice of India D.Y. Chandrachud in response to a July 9, 2025 report by Viceroy Research LLC that alleged financial misgovernance against the Vedanta Group. The opinion concludes that the Viceroy report lacks credibility, noting Viceroy's history of short-selling followed by misleading reports to profit from price drops, and the questionable credentials of its researchers. It finds no credible basis for regulatory action against Vedanta, given the company's compliance with India's robust regulatory framework overseen by SEBI, RBI, and other bodies. The opinion also opines that the report's use of terms like 'Ponzi scheme' and 'parasite' constitutes defamation, making Vedanta well-placed to seek legal remedies, similar to the Ebixcash case against Viceroy in the Delhi High Court.
This is a reputational defense by Vedanta to counter a short-seller's negative report, which had likely pressured the stock. The strong legal opinion from a former CJI could help restore investor confidence and potentially trigger a relief rally, though the market impact depends on whether investors accept the opinion's conclusions. Vedanta may pursue defamation litigation against Viceroy, which could take considerable time to resolve.