Vedanta Limited announced key changes to its Board of Directors effective March 31, 2026. Mr. Dindayal Jalan completed his second and final term as a Non-Executive Independent Director. Concurrently, the Board approved the appointment of Mr. S.V. Murali Dhar Rao as an Additional Director, designated as a Non-Executive Independent Director for a term of one year, starting April 01, 2026. Furthermore, the timeline for the Composite Scheme of Arrangement was extended to June 30, 2026.
Board Changes Effective March 31, 2026
The Board of Directors of Vedanta Limited, following their meeting on March 31, 2026, confirmed two significant governance actions. First, Mr. Dindayal Jalan (DIN: 00006882) has completed his second and final term and will cease to hold office as a Non-Executive Independent Director effective at the close of business hours on March 31, 2026. The Board expressed sincere appreciation for his valuable contributions.
Appointment of New Independent Director
On the recommendation of the Nomination & Remuneration Committee, the Board approved the appointment of Mr. S.V. Murali Dhar Rao (DIN: 11003912) as an Additional Director. He is designated as a Non-Executive Independent Director for an initial term of 1 year, running from April 01, 2026, to March 31, 2027, subject to shareholder approval. Mr. Rao satisfies the required criteria for independence under current regulations and is not related to any existing Director.
Profile of Mr. S.V. Murali Dhar Rao
Mr. Rao brings over three decades of extensive experience regulating and developing the securities market, having joined the Securities & Exchange Board of India (‘SEBI’) in June 1992 and rising to the position of Executive Director in July 2012 before superannuating in January 2025. His tenure at SEBI involved key departments such as Corporation Finance, Market Regulation, and Investment Management. He holds a Master of Commerce (M.Com) and a Master of Business Administration (MBA). Currently, he serves as an Independent Director on the Board of Invesco Trustee Private Limited and is a senior consultant with Khaitan & Co.
Extension of Timeline for Composite Scheme of Arrangement
The company also announced an extension related to the Composite Scheme of Arrangement involving Vedanta Limited and its Resulting Companies (Vedanta Aluminium Metal Limited, Talwandi Sabo Power Limited, Malco Energy Limited, and Vedanta Iron and Steel Limited).
Previously, the deadline for fulfilling certain conditions precedent was extended from September 30, 2025, to March 31, 2026. Since certain governmental approvals are still pending completion, the Board has approved extending this timeline further, in accordance with Clause 39.7 of the Scheme, from March 31, 2026, to June 30, 2026. This decision was approved by the Board at 05:07 PM IST on the announcement date.
Source: BSE
