Anil Agarwal Vedanta

In signs of protests against the 9-month-old windfall tax, mining mogul Anil Agarwal's Vedanta Ltd has withheld about USD 91 million from the share of profit due to government from its oil and gas fields, to make up for the additional tax outgo, according to sources and correspondence on the issue. India first imposed windfall profit tax on July 1, 2022 joining a growing number of nations that tax super normal profits of energy companies. But the levy of Special Additional Excise Duty (SAED) on locally produced crude oil was seen by producers as violation of the contract which provides fiscal stability. The SAED initially was Rs 23,250 per tonne (USD 40 per barrel) and in fortnightly revisions brought down to Rs 3,500 per tonne. This is in addition to the 10-20 per cent royalty on price of oil and gas realised and an oil cess of 20 per cent. On top, the government is also entitled to a pre-decided share of profit after expenses are deducted from revenue earned from sale of oil and .

Vedanta Resources Ltd. has achieved half of its three-year planned reduction commitment of $4 billion in the first year, the London-based company said in an exchange filing

Animal lovers and cattle managers will soon have the opportunity to learn more about the medical status of the strays as well as their live stocks.

Vedanta's Hindustan Zinc, also Asia's most valuable zinc producer, reported a 23% drop in June-quarter profit on lower prices and production

The promoter holding currently 50.14%. Under Sebi rules, promoters will have to acquire at least 39.86% stake (1.48 billion shares) from public to ensure successful delisting

The company is also eyeing a top line of USD 30-40 billion and a bottom line of USD 10 million in 4-5 years, Agarwal said at the India Economic Conclave 2019

The Anil Agarwal-led company follows an increasingly popular route to advocacy, goes directly to the people to make its case

Some of the metal is being imported in the form of scrap. Aluminium and scrap should have the same duty if its production has to be encouraged, said Vedanta group Chairman