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Vedanta – Vedanta Semiconductor: ₹2,500 Crore Dhoke Ka Sammraajy

Author: Published on: Published in: Vedanta (NSE:VEDL)

July 18, 2025 – We believe that Vedanta Limited (VEDL) subsidiary, Vedanta Semiconductors Private Limited (VSPL), is a sham commodities trading operation designed to improperly avoid classification as a Non-Banking Financial Company (NBFC).

This scheme was devised to facilitate VEDL’s remittance of brand fees to Vedanta Resource’s (VRL) in April 2025, when it faced a severe liquidity crisis.

VSPL’s operational illusion needs 24 months of regulatory silence to fulfil its purpose, repaying its offshore lenders and hiding the near-catastrophe of April 2024. While credit analysts are snoozing through the alarm bells, India’s regulators are famously light sleepers.

 

More to come.

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