Vedanta Ltd. has extended the deadline to complete its planned demerger from March 31 to September 30, citing pending approvals from the National Company Law Tribunal (NCLT) and other government authorities, the company informed in an exchange filing on Friday, March 28.The decision was made under Clause 39.7 of the demerger scheme, which allows the company’s board and the boards of its resulting entities to extend the implementation timeline if regulatory approvals are delayed.
Announced in September 2023, Vedanta’s demerger aims to split the company into independent listed entities focusing on aluminium, oil and gas, power, and base metals. The move is intended to enhance operational efficiency, streamline management, and unlock shareholder value.
The extension gives Vedanta more time to secure necessary clearances while continuing its restructuring process to create sector-focused businesses.A CNBC-TV18 report had earlier said that the Vedanta Group is among as many as 26 suitors that have come forward to submit Expressions of Interest (EOIs) to in acquiring Jaiprakash Associates Ltd (JAL) through the ongoing corporate insolvency resolution process (CIRP). The report added that the Adani Group has also showed an EOI to acquire the debt-laden company.JAL, the flagship company of the Jaypee Group, operates across the cement, power, hotels, construction, and real estate sectors. It was admitted into the Insolvency and Bankruptcy Code (IBC) process following a June 3, 2024, order by the National Company Law Tribunal (NCLT), Allahabad Bench.Earlier this month, the NCLT directed that resolution plans must be sought for JAL as a whole entity rather than splitting its business verticals. This move ensures the company is sold as a going concern, improving the chances of reviving operations.First Published: Mar 29, 2025 12:10 AM IST
