Author: sampoorna.gupta

According to a letter the government sent to the firm on Monday, the Indian federal government has objected to Hindustan Zinc’s proposed $2.98 billion acquisition of zinc assets from Vedanta Ltd. It demonstrated that the government-nominated directors at Hindustan Zinc had disagreed with the advertised proposed purchase. Over 30% of Hindustan Zinc is owned by the government, and Vedanta is the company’s major stakeholder. The government reportedly objected to the “related party transaction” once more in the letter. We urged the corporation to look into alternative cashless methods of buying these assets. The administration additionally stated that it would oppose…