Vedanta Resources PLC Update on Electrosteel (5293X)

TIDMVED

RNS Number : 5293X

Vedanta Resources PLC

10 August 2018

10 August 2018

Vedanta Resources plc

Update on Electrosteel

Vedanta Resources plc's subsidiary Vedanta Limited today made the below announcement.

The National Company Law Appellate Tribunal ('NCLAT') through its order dated today, August 10, 2018 has ruled that Vedanta Limited (the 'Company') was eligible to bid for Electrosteel Steels Limited and is not barred by Section 29A(d) of Insolvency and Bankruptcy Code. NCLAT further declined to interfere with the approval of the Resolution Plan by the National Company Law Tribunal, Kolkata through its order dated April 17, 2018.

For further information, please contact:

 
 Communications                          Finsbury 
 Arun Arora                              Daniela Fleischmann 
  Head, Corporate Communications          Tel: [phone] 
  Tel: [phone] 
  [e-mail] 
 Investors 
 Rashmi Mohanty                          Tel: [phone] 
  Director - Investor Relations           Tel: [phone] 
                                          [e-mail] 
 
  Sunila Martis 
  Associate General Manager - Investor 
  Relations 
 
  Veena Sankaran 
  Manager - Investor Relations 
 

About Vedanta Resources

Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia and South Africa. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. To access the Vedanta Sustainable Development Report 2017, please visit http://www.vedantaresources.com/media/214366/vedanta_sd_report_2016-17.pdf. For more information on Vedanta Resources, please visit www.vedantaresources.com

Disclaimer

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

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August 10, 2018 12:19 ET (16:19 GMT)