Vedanta Limited announced key board changes and corporate restructuring updates following its Board of Directors meeting held on March 31, 2026. The company filed regulatory intimations under Regulation 30 of SEBI Listing Regulations, detailing leadership transitions and timeline extensions for the ongoing composite scheme of arrangement.

Board Leadership Transition

The company experienced a significant change in its independent director composition with the completion of Mr. Dindayal Jalan's tenure and the appointment of his successor.

Mr. Dindayal Jalan ceased to hold office as Non-Executive Independent Director with effect from close of business hours on March 31, 2026. The Board placed on record its sincere appreciation for his valuable contributions during his tenure with the company.

New Director Profile and Qualifications

Mr. S.V. Murali Dhar Rao's appointment was recommended by the Nomination & Remuneration Committee and approved by the Board for a first term of one year, subject to shareholder approval. The appointee brings extensive regulatory experience to Vedanta's board.

Professional Background:

• Over three decades of experience in regulating and developing securities markets
• Joined Securities & Exchange Board of India (SEBI) in June 1992
• Elevated to Executive Director in July 2012
• Superannuated from SEBI in January 2025

Current Positions:

• Independent Director at Invesco Trustee Private Limited
• Independent member on Kerala Infrastructure Investment Fund Board
• Senior consultant with Khaitan & Co
• Former part-time member of National Financial Reporting Authority (NFRA)
• Former Board member of Indian Institute of Corporate Affairs (IICA)

Key Contributions at SEBI:

• Instrumental in mutual fund industry growth through Total Expense Ratio rationalization
• Led categorization and rationalization of mutual fund schemes
• Facilitated reduction of listing timeline from T+6 to T+3 for public issues
• Enhanced disclosure requirements including ESG disclosures for listed entities
• Introduced product labelling, swing pricing mechanism, and backstop facility for corporate debt markets

Mr. Rao holds Master of Commerce (M.Com) and Master of Business Administration (MBA) qualifications. The Board confirmed he satisfies independence criteria under the Companies Act, 2013 and Listing Regulations, and is not debarred from holding directorship by SEBI or other authorities. He is not related to any existing directors of the company.

Composite Scheme Timeline Extension

The Board approved an extension of the timeline for fulfilling conditions precedent under the composite scheme of arrangement involving multiple entities.

The extension was necessitated as certain conditions precedent, including receipt of approvals from governmental authorities, remain pending completion. This marks the second extension, following the previous extension from September 30, 2025 to March 31, 2026, as communicated in the company's earlier intimation dated September 30, 2025.

The composite scheme involves arrangements between Vedanta Limited and four resulting companies along with their respective shareholders and creditors under Sections 230 to 232 of the Companies Act, 2013. The Board utilized Clause 39.7 of the Scheme to approve this timeline extension, ensuring adequate time for regulatory compliance and approval processes.

Vedanta Limited has issued an official clarification to stock exchanges regarding media reports about a potential $5 billion investment in the US energy sector. The company confirmed that any discussions remain exploratory and preliminary, with no binding agreements or material developments requiring regulatory disclosure.

Official Stock Exchange Communication

In a formal communication dated March 30, 2026, to BSE and NSE, Vedanta addressed news reports suggesting the company "offers to spend $5 billion in US, seeks global partnerships in energy sector." The clarification was issued under Regulation 30 of SEBI Listing Regulations following exchange queries about the media coverage.

SEBI Regulatory Compliance

Vedanta emphasized its commitment to regulatory compliance, stating that the company evaluates various strategic opportunities including investments and partnerships in the ordinary course of business. The company confirmed there is no unpublished price sensitive information related to this matter that hasn't been disclosed to stock exchanges.

Company's Position on Strategic Opportunities

The mining and metals conglomerate clarified that such discussions, if any, are exploratory and preliminary in nature. At present, there are no binding decisions, definitive agreements, or material developments that require disclosure under SEBI regulations.

Market Transparency Measures

The official clarification serves to address market speculation and ensure transparent communication with stakeholders. Vedanta reiterated its commitment to comply with SEBI Listing Regulations and keep stock exchanges informed of all material information and price sensitive developments in accordance with applicable provisions.

The company's proactive approach to addressing media reports demonstrates its focus on maintaining regulatory compliance and managing market expectations regarding potential international expansion initiatives.