Vedanta vs. Viceroy: Legal Battle Brewing Over Damaging Allegations
Former Chief Justice of India, D Y Chandrachud, criticized a report by Viceroy Research on the Vedanta Group as lacking credibility. Vedanta sought his legal opinion after Viceroy accused them of financial misconduct. Chandrachud noted Viceroy's history of short selling and suggested Vedanta explore legal actions.
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In a significant development, former Chief Justice of India D Y Chandrachud has questioned the credibility of a Viceroy Research report targeting the Vedanta Group. The report, criticized for containing serious allegations against Vedanta, has prompted suggestions for legal recourse.
Chandrachud's remarks follow Vedanta's request for an independent legal opinion amid claims by Viceroy of financial malpractice. The report accuses the group of operating a 'house of cards' built on unsustainable debt and other misdeeds.
Vedanta, led by billionaire Anil Agarwal, dismissed the allegations, describing them as 'selective misinformation.' The group plans to counter the report, which it says aims to damage its reputation unjustly.
(With inputs from agencies.)
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