Allegations Against Vedanta: An Analysis
Allegations Against Vedanta Group by Viceroy Research
Continuing its criticism against mining tycoon Anil Agarwal’s Vedanta group, US-based Viceroy Research has accused the conglomerate’s semiconductor unit of engaging in deceptive commodities trading to avoid NBFC classification. Vedanta Group denies these claims.
According to Viceroy Research, the Mumbai-listed firm remitted fees to its parent company during a liquidity crisis in April through its subsidiary, Vedanta Semiconductors Pvt Ltd, labelling it as a dubious operation.
Response from Vedanta
A Vedanta spokesperson strongly refuted the allegations, stating that VSPL’s business activities are transparent and compliant with regulations.
Among Viceroy’s claims is that VSPL was setup as a trading entity to evade financial regulations. The report suggests that the operation is a facade that conceals the group’s financial concerns.
