Overview
- The Ministry of Petroleum and Natural Gas sought itemised details on exploration blocks, including Rajasthan’s RJ-ON-90/1, and about Rs 3,200 crore of loans reportedly raised against those assets.
- NCLT Mumbai directed Vedanta and the ministry to file written submissions within five days before the next hearing.
- Two days earlier, the NCLAT set aside the NCLT’s March rejection of the Talwandi Sabo Power portion of the scheme after TSPL settled with creditor Sepco, which withdrew its Rs 1,251 crore claim.
- Vedanta argued it has met disclosure requirements, noted SEBI has no objection to the current scheme, offered a corporate guarantee for government dues, and said Malco Energy’s net worth would turn positive post-demerger.
- Vedanta shares fell as much as 3.8% intraday before closing down about 1.1% after the deferral.