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 ).'.
VEDL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Vedanta's subsidiary Hindustan Zinc Limited (HZL) received an order from the Office of the Commissioner, Central Goods & Service Tax - Udaipur, confirming a penalty of Rs. 1,08,04,533 (about Rs. 1.08 crore). The issue relates to the availment of Cenvat credit on invoices issued during March 2011 to April 2011. HZL plans to file an appeal before the appellate authority within the time limit prescribed under excise law. The company stated it does not expect the order to have any material financial impact on its operations.
The penalty amount is small relative to HZL's overall size, and the company plans to appeal, so the direct financial impact on Vedanta shareholders is likely negligible. The stock is unlikely to see significant movement from this disclosure.