Viceroy Research Slams Vedanta: Financial Instability Exposed
Viceroy Research released a critical report on Vedanta Resources, calling it financially unsustainable and risky for creditors. The report claims Vedanta is extracting cash from subsidiaries to meet its obligations. Vedanta dismisses the allegations as misinformation and awaits shareholders' meeting. Viceroy stands by its findings amid stock market reactions.

- Country:
- India
US-based Viceroy Research has ignited controversy by releasing a damning report on Anil Agarwal's Vedanta Resources. The short seller claims the conglomerate is financially unstable, posing severe risks to creditors. Vedanta strongly refuted these allegations, dismissing them as misinformation intended to undermine the company.
Viceroy announced its strategy to short Vedanta's debt, asserting the holding company relies excessively on cash from its subsidiary, Vedanta Ltd. The report alleges this dependency has pushed the group towards insolvency, drawing parallels to a Ponzi scheme, and questioning its governance practices.
In response, Vedanta labeled the report as a false propaganda effort, ahead of its shareholder meeting. The company maintained its growth focus and called upon stakeholders to disregard the speculative claims. Viceroy remains steadfast in its assertions, inviting inquiries into its detailed findings.
(With inputs from agencies.)
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