MUMBAI, India, March 28, 2017 /PRNewswire/ -- The Company has now received all the required approvals in relation to the Scheme of Arrangement between Vedanta Limited and Cairn India Limited, and their respective shareholders and creditors ("Scheme"), save and except the approval of Reserve Bank of India for issuance of Redeemable Preference Shares to the Non-resident shareholders of Cairn India Limited.
The Scheme will be made effective and record date for issue of the Company shares pursuant to the Scheme, would be set upon receipt of the said approval of Reserve Bank of India.
About Vedanta Limited (Formerly SesaSterlite Ltd.)
Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.
Vedanta Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. The company is conferred with the Confederation of Indian Industry (CII) 'Sustainable Plus Platinum label', ranking among the top 10 most sustainable companies in India. To access the Vedanta Sustainable Development Report 2016, please visit http://sustainabledevelopment.vedantaresources.com/content/dam/vedanta/corporate/documents/Otherdocuments/SDreport2015-16/Vedanta%20SDR%20FY%2015-16.pdf
Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
For more information please visit www.vedantalimited.com
Vedanta Limited (Formerly known as SesaSterlite Limited)
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400 099
SesaGhor, 20 EDC Complex,
Patto, Panaji (Goa) - 403 001
This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward–looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements
For further information, please contact:
President – Group Communications, Sustainability& CSR
Director - Investor Relations
VP – Investor Relations
Manager – Investor Relations
Associate Manager – Investor Relations
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SOURCE Vedanta Limited