TNN / Updated: Mar 13, 2024, 04:55 IST
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Markets regulator Sebi on Tuesday ordered Anil Agarwal-controlled Vedanta to pay Rs 77.6 crore to Capricorn UK Holdings (earlier Cairn UK Holdings) as interest for delayed payment of dividend by the Indian company. Sebi also banned some of Vedanta’s current and former top executives from the market for 1-2 months for their part in delay in payment of dividend
MUMBAI: Markets regulator
Sebi
on Tuesday ordered Anil Agarwal-controlled Vedanta to pay Rs 77.6 crore to
Capricorn UK Holdings
(earlier
Cairn UK
Holdings) as interest for delayed payment of
dividend
by the Indian company. Sebi also banned some of Vedanta’s current and former top executives from the market for 1-2 months for their part in delay in payment of dividend to Capricorn UK Holdings, a former promoter of Cairn India.
The case dates to 2017 when I-T authorities asked Vedanta (then Cairn India) to transfer any unpaid dividends to Capricorn UK Holdings to it for a tax dispute.
After that, Vedanta had transferred Rs 666.5 crore to the tax authorities.
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