Vedanta Gets SEBI Warning Over Lapses in Scheme Filing

Vedanta said it has received an administrative warning from SEBI for modifying a scheme of arrangement filed with stock exchanges without the regulator’s prior consent.

SEBI noted the move violated para A(11) of Part I of its Master Circular on schemes dated Jun. 20, 2023, and cautioned that any repeat violation would invite enforcement action.

The regulator has also asked Vedanta to place the matter before its board of directors in the upcoming meeting and share the board’s comments with SEBI.