The Securities and Exchange Board of India (Sebi) has warned Anil Agarwal’s Vedanta Ltd for executing a Rs 1,407-crore related-party transaction without prior approval of the company’s audit committee.
“The non-compliance is viewed seriously. You are hereby warned and advised to ensure compliance with applicable provisions of Sebi regulations. Any such aberration would be viewed seriously and appropriate action would be initiated,” the regulator wrote to Vedanta’s company secretary, Prerna Halwasiya.
