Sebi issues administrative warning to Vedanta

Vedanta has been warned by the markets regulator to strengthen its internal control for corporate announcements and press releases. Sebi found violation of Sections 12A (a), (b), (c) of SEBI Act, 1992 r/w Regulations 3 (b), (c),(d), 4(1) & 4(2) (k) & (r) of SEBI (PFUTP) Regulations, 2013 in respect of Vedanta publishing information related to its unlisted ultimate holding company.

Mining conglomerate has been warned by markets regulator to strengthen its internal control for corporate announcements and press releases.

Vedanta told exchanges that it has received a letter from NSE, annexing a letter issued by Sebi in which an administrative warning has been issued to Vedanta.

"The company has been directed to place the said letter before its Board of Directors and take necessary corrective steps to strengthen the internal control for corporate announcement / press releases," Vedanta said.

Sebi found violation of Sections 12A (a), (b), (c) of SEBI Act, 1992 r/w Regulations 3 (b), (c),(d), 4(1) & 4(2) (k) & (r) of SEBI (PFUTP) Regulations, 2013 in respect of Vedanta publishing information related to its unlisted ultimate holding company.

The Anil Agarwal-led Vedanta said the warning will not have any impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms.

Vedanta shares ended flat at Rs 282.75 on BSE.

Source: Stocks-Markets-Economic Times