Vedanta Aluminium Metal Limited announced that the Orissa High Court dismissed its writ petition challenging the state's bauxite linkage policy on October 1, 2026. The company stated it is evaluating next steps and available legal options following the judgment.

The intimation was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously approached the Hon'ble High Court of Orissa to contest specific provisions of the policy governing bauxite linkage.

Legal proceedings and company response

The dismissal marks a significant development in the regulatory dispute between the aluminium major and the Odisha government regarding resource allocation policies. In its official communication, the company confirmed receipt of the judgment and noted that the copy of the High Court order was uploaded to the Orissa High Court website at approximately 2:00 pm IST on the same day.

Vedanta Aluminium stated, "We have taken note of the Hon'ble High Court judgment, and we are reviewing the judgment and evaluating the next steps, including legal options available to us." No further details on potential appeals or alternative strategies were disclosed in the filing.

Key details of the filing

The company did not provide immediate financial implications or operational impacts resulting from this judicial outcome. The focus remains on the legal review process as the company determines its path forward.

Vedanta Aluminium Metal Limited shareholders have approved eleven resolutions through a postal ballot process concluded on September 30, 2026. The approvals include the appointment of a new statutory auditor and the implementation of new employee stock option and share purchase plans.

The voting results, declared on October 1, 2026, show strong support from both promoter and public shareholders for all agenda items. The company initiated this process following a board meeting held on August 27, 2026, to seek member approval for various corporate actions under SEBI Listing Regulations.

Key Approvals Secured

The postal ballot covered three primary categories of resolutions: auditor appointment, employee benefit schemes, and related party transactions. All resolutions were passed with requisite majorities.

Voting Results Breakdown

The e-voting facility was provided by KFin Technologies Limited. The total number of shareholders on the record date (August 28, 2026) stood at 21,52,251. The voting participation varied across categories, with promoters casting 100% of their votes in favor of all resolutions.

Auditor Appointment (Resolution 1)

The appointment of M/s. S R B C & CO LLP as Statutory Auditors received overwhelming support. Promoters voted 100% in favor. Public institutions voted 99.72% in favor, while public non-institutions voted 99.71% in favor. The overall approval rate for this ordinary resolution was 99.91%.

Employee Stock Option Plan 2026 (Resolutions 2-5)

The four special resolutions related to the ESOP 2026 saw slightly lower but still substantial support compared to the auditor appointment. Public institutions showed notable dissent, voting approximately 27.3% against the core ESOP approval (Resolution 2). However, the combined promoter and non-institutional support ensured passage.

Employee Share Purchase Plan 2026 (Resolutions 6-9)

The ESPP 2026 resolutions received higher support than the ESOP resolutions. Public institutions voted approximately 94.6% in favor of the core ESPP approval (Resolution 6), indicating stronger institutional comfort with the share purchase mechanism compared to the option plan.

Related Party Transactions (Resolutions 10-11)

Promoters abstained from voting on the two ordinary resolutions concerning material related party transactions, as required by regulations given their interest. Public shareholders approved these transactions with near-unanimous support:

• RPTs with Company: 99.95% votes in favor.
• RPTs with BALCO: 99.95% votes in favor.

What the Numbers Show

A distinct divergence appears in institutional investor sentiment between the two employee benefit schemes. While public institutions supported the Employee Share Purchase Plan (ESPP) with ~94.6% approval, they opposed the Employee Stock Option Plan (ESOP) significantly more, with ~27.3% voting against the primary resolution. This suggests institutional investors may perceive the dilution or valuation impact of the ESOP structure differently than the ESPP, despite both being implemented via trusts. The promoter group’s 100% support across all non-RPT items highlights their alignment with management’s strategic direction.