Vedanta has incorporated a wholly owned subsidiary

Vedanta has incorporated a wholly owned subsidiary ‘Vedanta Star’ with effect from April 23, 2018 with a paid-up share capital of Rs 5,00,000 divided into 50,000 equity shares of Rs 10 each.

Recently, Vedanta had received National Company Law Tribunal’s (NCLT) approval to acquire Electrosteel Steels (Electrosteel). NCLT, Kolkata Bench, has approved the terms of the Resolution Plan submitted by the company, pursuant to a Corporate Insolvency Resolution process implemented by way of the Insolvency and Bankruptcy Code 2016, and the terms of the Resolution Plan are now binding.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

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