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Vedanta – SEBI Confirms Investigation

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

October 28, 2025 – One day after the publication of our October Regulatory Update, the Securities and Exchange Board of India (SEBI) all but confirmed that the Vedanta Resources Group, and Anil Agarwal’s empire more broadly, is under investigation.

In its October 24, 2025, publication detailing the processing status of draft offers, SEBI listed the status of Vedanta Resources’ fellow subsidiary Sterlite Electric Limited’s IPO as under abeyance.

Under General Order No. 1 of 2020, SEBI must place an issue in abeyance if there is:

  1. Probable cause for investigation or enquiry.
  2. An ongoing investigation or enquiry into the entity.
  3. Non-compliance with SEBI directions.
  4. A show-cause notice in process, especially under Section 11B – Serious Fraud or Mismanagement.

Notably the SEBI General Order applies when regulatory action is against the issuer’s promoters, directors, or group companies.

This action is neither technical nor voluntary, but procedural under SEBI law. It confirms an active investigation or enforcement action involving Vedanta Resources Limited and its subsidiaries.

Vedanta Resources Limited and its subsidiaries have consistently downplayed the risk of regulatory intervention despite significant non-compliance across its operations. The abeyance order removes all doubt: regulatory risk to Vedanta Resources is intensifying.

 

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