Vedanta Limited has responded to news regarding searches conducted by the Enforcement Directorate (ED) concerning a FEMA probe. The company confirmed that ED teams visited offices of Vedanta and its subsidiary Hindustan Zinc Limited. Vedanta stated it is cooperating fully with the authorities and providing all requested information. The company assures stakeholders it will continue to comply with all applicable regulations and will disclose further material updates as necessary.
Clarification on Enforcement Directorate Searches
Vedanta Limited has issued a clarification following news reports concerning searches conducted by the Enforcement Directorate (ED) in relation to a probe under the Foreign Exchange Management Act (FEMA). The company confirmed that teams from the ED visited certain offices of Vedanta Limited and its subsidiary, Hindustan Zinc Limited.
Cooperation with Authorities
In its statement, Vedanta Limited affirmed its full cooperation with the investigating authorities. The company is actively providing all necessary information and assistance required during the proceedings. The proceedings are currently underway.
Commitment to Compliance
Vedanta reiterated its unwavering commitment to complying with all applicable laws and regulations, including SEBI Listing Regulations. The company pledged to keep the stock exchanges duly informed of any material information or events, particularly price-sensitive information, as per the regulatory requirements. Should any further material updates necessitate disclosure, the company will make timely announcements accordingly.
Source: BSE
