A Vedanta spokesperson has rejected allegations made in a short seller's recent report, describing them as "malicious and ill-informed".
In a formal statement, the company directly addressed claims of an ongoing investigation by the Singapore Police Force, stating, "This is to clarify that there is no investigation underway by the Singapore Police Force, nor has Vedanta been contacted by them."
The statement comes amid news that a Singapore government agency is reviewing claims made by the short seller against the company. The spokesperson maintained that Vedanta has paid all dividends "in full compliance with applicable laws" and asserted that "such irresponsible allegations are baseless".
The company's firm response aims to counter the narrative presented in the report, which has drawn attention from global financial markets. By directly refuting the core allegations, the company has particularly rejected the claim of a police investigation.
The company's stance is that the short seller's report is not only "flawed" in its findings but is also an act of "bad faith designed to manipulate the market".
This clarification is a notable move from the company to gain back its investors' confidence.
Vedana shares closed 0.60% lower at Rs 452.9 apiece on the NSE compared to 0.28% decline in the Nifty 50 at close on Friday.
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