Vedanta Limited has announced the rescission of several facility agreements originally dated April 17, 2025, June 24, 2025, and January 30, 2026. These agreements were with entities including Vedanta Resources Limited, Twin Star Holdings Ltd., Vedanta Holdings Mauritius II Limited, and Welter Trading Limited. The rescission follows the repayment of facilities and all other liabilities, leading to the release of previously disclosed restrictions on Vedanta Limited.
Vedanta Limited Announces Agreement Rescission
Vedanta Limited has formally communicated the rescission of multiple facility agreements. This development pertains to agreements initially executed on April 17, 2025, June 24, 2025, and January 30, 2026, along with a subsequent amended and restated deed dated May 13, 2026. These were collectively referred to as the “Facilities Agreements.” The company received an intimation regarding this rescission on August 24, 2026, at approximately 10:20 PM IST.
Parties Involved in Agreements
The disclosure outlines the various parties involved in these facilities agreements:
Agreement Dated April 17, 2025
The entities party to the facility agreement dated April 17, 2025, were:
- Borrower: Twin Star Holdings Ltd.
- Guarantors: Vedanta Resources Limited, Welter Trading Limited
- Arrangers: Barclays Bank PLC, First Abu Dhabi Bank PJSC, Mashreqbank PSC, Deutsche Bank AG (Singapore Branch)
- Agent: Kroll Trustee Services (HK) Limited (formerly, Madison Pacific Trust Limited)
- Lenders (as original lenders): Barclays Bank PLC, First Abu Dhabi Bank PJSC, Mashreqbank PSC, Standard Chartered Bank (Mauritius) Limited, Deutsche Bank AG (Singapore Branch), Standard Chartered Bank, GIFT City
Agreement Dated June 24, 2025
The following entities were parties to the facilities agreement dated June 24, 2025:
- Borrower: Vedanta Resources Limited
- Guarantors: Twin Star Holdings Ltd., Welter Trading Limited
- Arrangers: First Abu Dhabi Bank PJSC, Mashreqbank PSC, Standard Chartered Bank, Standard Chartered Bank (Mauritius) Limited, Sumitomo Mitsui Banking Corporation (Singapore Branch)
- Agent: Kroll Trustee Services (HK) Limited (formerly, Madison Pacific Trust Limited)
- Lenders (as original lenders): First Abu Dhabi Bank PJSC, Mashreqbank PSC, Standard Chartered Bank, Standard Chartered Bank (Mauritius) Limited, Sumitomo Mitsui Banking Corporation (Singapore Branch)
Agreement Dated January 30, 2026 (Amended and Restated)
For the facilities agreement dated January 30, 2026, as amended and supplemented with an amended and restatement deed dated May 13, 2026, the parties were:
- Borrower: Vedanta Resources Limited
- Guarantors: Twin Star Holdings Ltd., Vedanta Holdings Mauritius II Limited, Welter Trading Limited
- Agent: Kroll Trustee Services (HK) Limited (formerly, Madison Pacific Trust Limited)
- Arrangers/ Lenders: Bank of Maharashtra IFSC Banking Unit, DB International (Asia) Limited, First Abu Dhabi Bank PJSC, JP Morgan Chase Bank, N.A., London Branch, Mashreqbank PSC, National Development Bank PLC, Standard Chartered Bank (Mauritius) Limited, Standard Chartered Bank (Singapore) Limited, Sumitomo Mitsui Banking Corporation (Singapore Branch)
Nature of Agreements and Rescission
The disclosure clarifies that Vedanta Limited was not a direct party to the initial facility agreements. However, as a member of the promoter group, it had agreed to ensure that Vedanta Limited would not undertake certain actions or activities outside the parameters of these agreements, as previously disclosed. The rescission of these agreements is a direct consequence of the repayment of all outstanding facilities and liabilities. Consequently, any restrictions previously placed on Vedanta Limited under these agreements are now released.
Impact of Rescission
The rescission of these facility agreements signifies the full settlement of the obligations. This event is expected to provide Vedanta Limited with greater financial flexibility as the previously imposed restrictions have been lifted. The company confirmed that the details regarding amendments, alterations, or reasons for rescission are not applicable beyond the stated repayment and release of liabilities.
Source: BSE
