The Centre has flagged multiple concerns over Vedanta’s proposed demerger at the National Company Law Tribunal (NCLT), CNBC-TV18 reported on Wednesday. During the hearing, objections were reportedly raised over financial risk, alleged misrepresentation of assets, insufficient disclosure of liabilities and violations of SEBI’s disclosure norms.
Vedanta is seeking regulatory approval to split into four listed companies – Vedanta Aluminium Metal Ltd. for aluminium, Talwandi Sabo Power for power, Malco Energy Ltd. for oil and gas, and Vedanta Iron and Steel Ltd. for base metals. The demerger plan was first unveiled in September 2023.
The government told the tribunal that the demerged entity of Malco Energy is likely to go into…