Vedanta Limited has informed the Exchange regarding Appointment of Ms Meena Hemchandra as Independent Director of the company w.e.f. May 01, 2026.
VEDL · price
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Vedanta Limited's Board, at its meeting on April 29, 2026, approved three key items. First, M/s M S K A & Associates LLP has been appointed as the new Statutory Auditor, replacing M/s S.R. Batliboi & Co. LLP, which completed two consecutive terms as required under the Companies Act, 2013. The new auditor will serve a five-year term until the 66th Annual General Meeting, pending shareholder approval. Second, Independent Director Ms. Pallavi Joshi Bakhru will step down on April 30, 2026, because her firm (Grant Thornton Bharat LLP) is linked to a group company auditor (Walker Chandiok & Co LLP), creating an independence conflict. Dr. Meena Hemchandra, a former RBI Executive Director with four decades of central banking experience, has been appointed as a Non-Executive Independent Director for a one-year term starting May 1, 2026. Third, the Board revised its Dividend Distribution Policy effective FY 2027 in line with the ongoing demerger scheme, aiming to balance shareholder returns with growth, deleveraging, and financial resilience.
The changes are largely governance housekeeping — a routine auditor rotation, an independent director exit tied to auditor independence rules, and a strong-profile replacement. Shareholders are unlikely to see material stock movement from these decisions, though the revised dividend policy could influence future payout expectations post-demerger.