Overview

• Vedanta said the extension reflects pending sanction from the NCLT’s Mumbai Bench and clearances from certain government authorities.
• The tribunal last month postponed its hearing to October 8 after the Petroleum Ministry objected to the scheme, citing inadequate disclosures.
• The company has revised the scheme’s scope by deciding to retain the base metals undertaking within the parent entity.
• The initial blueprint to create six independent companies has been altered as the restructuring progressed.
• Approval of the scheme would allow Vedanta’s business verticals to be separated into standalone entities.