Sebi orders Vedanta to pay Cairn UK ₹78 crore – Occasions of India

MUMBAI: Markets regulator SEBI on Tuesday ordered Anil Agarwal-controlled Vedanta to pay Rs 77.6 crore to Capricorn UK Holdings (earlier Cairn UK Holdings) as curiosity for delayed cost of dividend by the Indian firm. Sebi additionally banned a few of Vedanta’s present and former prime executives from the marketplace for 1-2 months for his or her half in delay in cost of dividend to Capricorn UK Holdings, a former promoter of Cairn India.
The case dates to 2017 when IT authorities requested Vedanta (then Cairn India) to switch any unpaid dividends to Capricorn UK Holdings to it for a tax dispute. After that, Vedanta had transferred Rs 666.5 crore to the tax authorities.