Vedanta wins approval for demerger plan from Mumbai NCLT, overcomes petroleum ministry’s objections

The National Company Law Tribunal allowed Vedanta Ltd to go ahead with a proposed demerger of its India operations into five separate entities, marking a key milestone in billionaire Anil Agarwal’s two-year efforts to simplify and list the mining conglomerate’s businesses.

The ministry of petroleum and natural gas had opposed the restructuring plan, alleging misrepresentation of India’s hydrocarbon assets and inadequate disclosure of liabilities.