
Vedanta Limited has announced key updates regarding its corporate restructuring plan as per the notification released today, January 17, 2025. The National Company Law Tribunal (NCLT) has approved a meeting schedule for equity shareholders, secured creditors, and unsecured creditors concerning the Scheme of Arrangement between Vedanta Limited and its subsidiaries. Here are the highlights:
Scheme of Arrangement
- The restructuring involves Vedanta Aluminium Metal Limited, Talwandi Sabo Power Limited, Malco Energy Limited, and Vedanta Iron and Steel Limited, among others, under Sections 230-232 of the Companies Act, 2013.
- This aims to enhance operational efficiency and simplify the corporate structure.
Key Dates
- Equity Shareholders’ Meeting: February 18, 2025, at 10:00 AM IST.
- Secured Creditors’ Meeting: February 18, 2025, at 11:45 AM IST.
- Unsecured Creditors’ Meeting: February 18, 2025, at 01:30 PM IST.
- E-voting Period: February 13, 2025 (9:00 AM) to February 17, 2025 (5:00 PM).
Other Information
- The meetings will be held through video conferencing (VC) or other audio-visual means (OAVM).
- Updated notices have been disseminated to stakeholders and are available on Vedanta’s official website.
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