sebi on vedanta: sebi issues administrative warning to vedanta

Mining giant Vedanta has been warned by market regulator Sebi to strengthen internal controls over corporate announcements and press releases.

Vedanta told the clearinghouse that it had received a letter from NSE attaching a letter issued by Sebi in which an administrative warning was issued to Vedanta.

“The company has been directed to submit the letter to the Board of Directors and take necessary corrective action to strengthen internal controls over corporate announcements/press releases,” Vedanta said.

Sebi provides for Section 12A (a), (b), (c) of Regulations 3(b), (c),(d), 4(1) and 4(2)(k) of the r/w Rules of the SEBI Act, 1992. A violation was found. ) and (r) of SEBI (PFUTP) Rules, 2013 – Vedanta published information relating to unlisted ultimate holding company.

Anil Agarwal-led Vedanta said the warning will not have any impact on the listed company’s finances, operations or other activities that can be quantified in monetary terms.

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