Troubled Meenakshi Energy Ltd becomes wholly-owned arm of Vedanta
Anil Agarwal-promoted Vedanta on Wednesday said Meenakshi Energy Ltd has become its wholly-owned subsidiary.
The National Company Law Tribunal had earlier approved Vedanta’s acquisition of Meenakshi Energy for Rs 1,440 crore.
“Meenakshi has allotted 10,00,000 fully paid-up equity shares of Rs 10 each amounting to equity capital of Rs 1 crore to the company, consequent to which, Meenakshi has become a wholly-owned subsidiary of the company with effect from December 27,” Vedanta said in a regulatory filing.
