Overview

• India’s company tribunal deferred Vedanta’s demerger case to September 17 as the government pressed objections and SEBI continued compliance checks.
• The petroleum ministry told the NCLT the plan involved concealment of key information, inflated revenues and hidden liabilities, and raised concerns over recovering dues and enforcing guarantees.
• SEBI said Vedanta altered the scheme after stock-exchange no‑objection certificates without written consent, issued an administrative warning calling it a serious breach, and asked that the letter be placed before the board.
• The Supreme Court upheld the electricity appellate tribunal’s ruling against Talwandi Sabo on deemed export benefits, a decision Vedanta called a legacy matter with no bearing on the split.
• Vedanta said it would provide a corporate guarantee to the petroleum ministry once the scheme is effective, while its shares fell about 2–2.4% and the board meets today to consider a second interim dividend with an August 27 record date.