Vedanta Limited — Others, 12-11-2024: Action(s) taken or orders passed

Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Limited, has received an order from the Office of the Commissioner of Customs confirming a demand that includes a penalty of ₹133.82 crore and a redemption fine of ₹100.30 crore. This relates to pre-import conditions for past imports made against advance authorization. However, Vedanta and BALCO believe they have a strong legal case and do not anticipate a material financial impact on operations or activities from this order. The outlook appears stable, albeit with some ongoing legal considerations.