While 93.342 percent of the votes were in favour of the proposal, 6.658 percent were against it, the filing said.
Vedanta's Anil Agarwal believes BHEL can do wonders for Atmanirbhar India and is even capable exporting projects on a turn-key basis
"The action follows the announcement by (Agarwal's) Vedanta Resources Ltd (VRL) of its intention to delist the shares of its Indian subsidiary and CIHL's parent, Vedanta Ltd (VLTD). CIHL's rating is aligned with the credit profile of VLTD, which owns 100 per cent of CIHL, reflecting their strong linkages," Fitch said in a statement.
The Directorate General of Hydrocarbons (DGH), the upstream technical arm of the Ministry of Petroleum and Natural Gas, sought $520 million in additional profit petroleum for the government after an audit of capital and operating expenses incurred on the Mangala and other oilfields in the Rajasthan block RJ-ON-90/1, sources with direct knowledge of the development said.
Vedanta Resources Ltd (VRL), which owns 50.1 percent of Vedanta Ltd, has offered to acquire all of the balance 49.9 percent shareholding held by the public and delist the company from the BSE.
Vedanta's stake in Hindustan Zinc is valued higher than its entire market capitalisation. That's just one of a set of reasons that may be driving this move by Vedanta Resources to delist the flagship.
Moneycontrol's Sakshi Batra breaks down what the London-based Marwari billionaire is attempting back home during a volatile financial and commodities market.
Understanding the rationale behind metals and mining billionaire Anil Agarwal's decision to buy out minority, non-promoter shareholders of his Indian unit and take it private.
Companies usually opt for delisting when they seek to expand or restructure, are acquired by others, or the promoters want to raise their stake
At the close of trading on Friday, BPCL had a market capitalisation of Rs 92,464.40 crore.
Besides spending on building infrastructure, the government should focus on exploiting natural resources the country has and look at stake sale in most PSUs.
Agarwal also said Vedanta was interested in BPCL divestment but the valuation of the company has now increased over 40 percent.
The Centre had termed the move of opening up of commercial coal mining for the private sector as the most ambitious coal sector reform since the nationalisation of this sector.
The biggest attraction in India is the tourism with 10,000 years of history with monuments, museums etc, Agarwal said in his address.
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.
"Government has no business to be in the business," Agarwal said during a fire chat at the india economic conclave 2019.
On August 11, Agarwal's investment company Volcan Investment, had submitted an expression of interest in buying Jet Airways.
The exit from Anglo American will reassure investors that the promoter focus will remain centred on Vedanta
Vedanta had forayed into steel with takeover of Electrosteel Steels Ltd (ESL) from the NCLT last year.
Agarwal is confident of achieving higher growth target under Modi 2.0.
Along with Mathur, Pankaj Kalra, the chief financial officer of Cairn India, which is now a part of Vedanta Ltd after its merger with the parent, has also resigned, sources privy to the development said.
Agarwal recently spent USD 2.4 billion to buy close to 22 per cent in Anglo, which owns 85 per cent of De Beers, the world's leading diamond company.
Agarwal, who is part of a business delegation accompanying South African President Cyril Ramaphosa to India, said Vedanta Resources has already invested USD 400 million in South Africa and is outlining more investments to produce minerals like zinc.
Agarwal said Vedanta's Rs 35,000-36,000 crore offer in the first round of bidding for Essar Steel was the highest in the three-way race for Essar Steel that lenders are auctioning to recover about Rs 50,800 crore of overdue loans.
Blocks would be awarded to the company which offers highest share of oil and gas to the government as well as commits to do maximum exploration work by way of shooting 2D and 3D seismic survey and drilling exploration wells.