Vedanta Limited — Others, 13-11-2024: Action(s) taken or orders passed

Vedanta Limited has received an order from the Office of the Principal Commissioner of Central Tax, Visakhapatnam, confirming a penalty demand of ₹3,197.96 crore, related to non-payment of OID Cess for the share of Videocon Industries Limited in the Ravva oil and gas block from December 2019 to March 2023. However, Vedanta's share of this demand is Nil. The company is evaluating the possibility of filing an appeal and does not anticipate this order to impact its operations or financials. This situation could lead to investor caution due to the potential legal process, but the lack of financial exposure may offer a positive outlook overall.