 "Vedanta")
Anil Agarwal-led Vedanta Ltd has pushed the deadline for its demerger to March-end next year as the approvals from the National Company Law Tribunal and government authorities are still pending, the company has said in a regulatory filing.
The deadline was earlier extended from March 31, 2025 to September 30 this year.
"Given that the conditions precedent in the Scheme, including approval of the National Company Law Tribunal, Mumbai Bench (NCLT) and approvals from certain government authorities are in the process of being completed, the board of the company and the resulting companies...have decided to extend the timeline for fulfilment of the conditions precedent from September 30, 2025 to March 31, 2026," Vedanta had said in a filing this week.
The approval of the demerger proposal will pave the way for the company's various business verticals to become separate entities.
Vedanta Resources CEO Deshnee Naidoo had earlier exuded optimism that the demerger of its Indian arm Vedanta will be completed in the current financial year and stressed that her focus at present is on the restructuring of the company.
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 "Anil Agarwal, Vedanta")
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The National Company Law Tribunal (NCLT) had last month deferred the hearing on Vedanta's ambitious demerger proposal to October 8, as the Ministry of Petroleum and Natural Gas objected to the scheme, citing a lack of necessary disclosures.
The mining firm had earlier revised its demerger plan and decided to retain its base metal undertaking within the parent firm.
Vedanta had earlier said post-demerger its existing businesses will be structured in six independent companies -- Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and Vedanta Ltd. However, later it revised the plan.
Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with operations in sectors like oil and gas, zinc, lead, silver, copper, steel, and aluminium.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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