Vedanta Clarifies ED Visits To Company, Hindustan Zinc Offices
Join Us
Follow Us
Vedanta Limited confirms Enforcement Directorate visits to its offices and Hindustan Zinc in connection with a FEMA probe.
✨ Key Takeaways
On Wednesday, Indian equity benchmarks traded lower, with the benchmark Nifty 50 index declining 0.91 per cent to 23,270.95. Metal and mining stocks remained in focus following regulatory developments. In this segment, Vedanta Ltd came under investor watch after the company confirmed that officials from the Enforcement Directorate (ED) had visited certain offices of the company and its subsidiary, Hindustan Zinc Ltd.
Vedanta Confirms ED Visit
Vedanta informed stock exchanges that the Enforcement Directorate has visited some offices of the company and Hindustan Zinc Limited, a subsidiary of Vedanta, in connection with a probe under the Foreign Exchange Management Act (FEMA).
The clarification was issued in response to queries received from the National Stock Exchange of India Limited and BSE Limited regarding a media report titled "ED conducts searches against Vedanta Group in FEMA probe."
Vedanta Extending Full Cooperation
In its regulatory filing, Vedanta stated that it is extending full cooperation to the authorities and providing all information sought during the ongoing proceedings.
The company added that the matter remains under investigation and any further material developments requiring disclosure under SEBI Listing Regulations will be communicated to stock exchanges as and when necessary.
About Vedanta
Vedanta Ltd is a diversified natural resources company engaged in the exploration, extraction, and processing of minerals and energy resources. Its business portfolio spans zinc, lead, silver, aluminium, copper, iron ore, steel, nickel, oil and gas, power generation, and glass substrate manufacturing, serving a wide range of industrial sectors.
The company operates through multiple subsidiaries and business units across India and international markets. As of March 31, 2025, Vedanta had 49 subsidiaries, supporting its presence across various segments of the natural resources and energy value chain.
Add DSIJ as your preferred news source on G o o g l e
Add NowWhat are your views on Vedanta's clarification regarding the ongoing FEMA proceedings? Share your thoughts in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.