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In a bid to better align itself with the brand "Vedanta", Sesa Sterlite, subsidiary of Vedanta Resources Plc, UK has sought shareholder approval to change of name to the company to Vedanta Limited.
"In order to have a better alignment with the brand "Vedanta" as part of the Vedanta Group, the name of the Company is now proposed to be changed from 'Sesa Sterlite Limited' to 'Vedanta Limited'," said Sesa in a notification to the BSE today. The company is looking to get the shareholder nod via the postal ballot route.
Sesa Sterlite is one of the world's largest diversified natural resources companies with presence in almost all non-ferrous metals along with ferrous and oil & gas segment.
The name change proposal comes more than a year after Vedanta completed amalgamation of its various businesses to create Sesa Sterlite. The name change became effective from only in September, 2013.
Sesa Sterlite's business primarily includes exploring, extracting and processing minerals and oil & gas. Apart this the company produces oil and gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka.
"It will become necessary to alter the Memorandum of Association and consequentially, the Articles of Association of the Company to substitute the new name of the company, Vedanta Ltd," said the notification.
