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HomeBusinessSebi orders Vedanta to pay Cairn UK ₹78 crore

Sebi orders Vedanta to pay Cairn UK ₹78 crore

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

Sebi orders Vedanta to pay Cairn UK ₹78 crore

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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