Confirming the ED action, a Vedanta spokesperson said the company was fully cooperating with the authorities.
The Enforcement Directorate (ED) has initiated action into alleged foreign exchange violations by the Vedanta Group as sleuths carried out searches at several company premises under the Foreign Exchange Management Act (FEMA).The searches were conducted at four locations linked to Vedanta Ltd., including offices in Delhi, Mumbai and Udaipur, Rajasthan. The agency, however, has not disclosed the specific nature of the alleged violations by the company.Confirming the ED action, a Vedanta spokesperson said the company was fully cooperating with the authorities.Full cooperation“We are extending full cooperation to the authorities and are providing all information sought. The company remains committed to compliance with all applicable laws and regulations. As the matter is currently under regulatory process, we are unable to comment further at this stage,” the spokesperson said.According to officials, through the FEMA probe they are examining certain foreign exchange transactions involving Vedanta Group entities. One of the transactions under scrutiny relates to a partial refund of brand fees by London-based Vedanta Resources, the parent company of Vedanta Ltd., to its Indian subsidiary in 2023, they said.Investigators are also examining other corporate structures and transactions within the group as part of the ongoing inquiry, officials said.Vedanta Ltd. is among India’s largest diversified natural resources companies, with interests spanning zinc, aluminium, copper, iron ore, oil and gas, steel, power and critical minerals. The company operates across India, Africa, the Middle East and East Asia.The development comes shortly after Vedanta’s board approved a demerger plan that will split the company into four separately listed entities — Vedanta Aluminium Metal Ltd. (VAML), Talwandi Sabo Power Ltd. (TSPL), Malco Energy Ltd. (MEL) and Vedanta Iron and Steel Ltd. (VISL).Published on June 2, 2026
