July 10, 2025 – On July 9, 2025, Viceroy released our report on Vedanta Limited (VEDL) and Vedanta Resources (VRL), detailing a system where the public company VEDL is being systematically looted to sustain its indebted parent VRL. The company’s response, a one-page dismissal, ignores every red flag raised in our report.
As such, we are publishing a list of questions for analysts and investors to ask at VEDL’s AGM on July 10, 2025. If management cannot clearly answer these questions, they are manifestly unable to serve the interests of all VEDL stakeholders.