Vedanta to appeal against Rs 77.6 cr penalty by Sebi

New Delhi, March 13 Billionaire Anil Agarwal’s Vedanta Ltd on Wednesday said it will appeal against Sebi levying Rs 77.6 crore penalty for delay in paying dividends to its erstwhile shareholder, Cairn Energy, saying the UK firm had given up...

PTI

Updated At : 01:12 PM Mar 14, 2024 IST

New Delhi, March 13

Billionaire Anil Agarwal’s Vedanta Ltd on Wednesday said it will appeal against Sebi levying Rs 77.6 crore penalty for delay in paying dividends to its erstwhile shareholder, Cairn Energy, saying the UK firm had

given up its right to claim interest when it settled a retrospective tax demand with the government.

Sebi had on Tuesday ordered Vedanta to pay Rs 77.62 crore to Scottish explorer Cairn and also barred the firm’s entire board, from accessing the capital market for the same.