Loud protests took abode at the company’s aftermost London AGM today. Aggregation architect and Chairman Anil Agarwal was not present, creating uproar amid protesters and shareholders. Vedanta Resources clearly de-listed from the London Stock Exchange at 8am this morning. Inside the affair agitator shareholders asked questions about the badge cutting of thirteen protesters adjoin Vedanta’s nut smelter in Tuticorin, Tamil Nadu in May. Another actor asked how abundant Vedanta spent on activity or bribes, accustomed the cardinal of cloister cases they are angry up in at their assorted operations. Meanwhile a ample accidental of Tamil bodies played acceptable Parai drums and accepted ‘justice for Tuticorin’ alfresco the AGM.
Hours afore the affair a beef was captivated at Banking Conduct Authority (FCA) address in Canary Wharf, ambitious that British authoritative authorities do not let Vedanta abscond the London Stock Exchange after actuality captivated to account. Representatives for FCA Directors were handed copies of a anathema address ‘Vedanta’s Billions: Authoritative failure, ambiance and animal rights’, appear by Foil Vedanta(1) and a affiliation of organisations canicule before. The address was declared by Hywel Williams MP as ‘deeply apropos and disturbing’ and gives a absolute annual of acknowledged judgments adjoin Vedanta beyond its all-around operations, blaming the City of London and FCA for declining to adapt or penalise the company, which is the latest in a continued annual of London miners affiliated to ‘corporate massacres’.
On Thursday 27th September accepted Zambian reggae artisan and accessible amount – Maiko Zulu – was arrested alfresco the British Aerial Commission in Lusaka, Zambia, captivation a banderole advertence ‘Hold Anil Agarwal to annual for Zambian crimes afore de-listing’.1 Zulu gave this account to the media, apropos to the Vedanta accessory KCM’s abuse of the River Kafue, for which the battleground case of 1,826 farmers adjoin Vedanta will be heard in London Supreme Cloister in January2, as able-bodied as the Tuticorin ‘massacre’:
“Vedanta is actuality de-listed from the London Stock Exchange afterward austere crimes adjoin aboriginal bodies of India and the abuse of our own Kafue River which is a antecedent of alimentation for bags of peasants. The asperity that multinationals are creating can not be larboard absolved and we will abide continuing up and adverse arrests for the acceptable of our people. Our adolescent protesters were attempt at by badge in India.”
Thirteen people, including women and accouchement were dead by badge cutting on the 100th day of beef adjoin Vedanta’s nut smelter in Tuticorin in May, as able-bodied as 217 injured, and nine disabled for life.3 Vedanta’s de-listing affairs were appear anon afterwards amidst all-around protests adjoin the company. Fatima Babu, from the Anti Sterlite People’s Movement, one of the capital groups complex in the protests says:
“The bodies of Thoothukudi are still addled from the annihilation of innocent women, men and accouchement in May, which was agitated out in the name of attention Vedanta’s industry from the bodies whom it has attenuated for so abounding years. The Tamil Nadu, Indian and British government’s charge all booty albatross for the anarchy and asymmetric ability wielded by Vedanta, which led to this adverse event.”
On Sunday 31st October bags of Adivasis (tribal) bodies protested adjoin affected acreage accretion for Vedanta’s animate bulb in Saranda forest, West Singhbhum district, Jharkhand, India.
Samarendra Das from Foil Vedanta, primary columnist of the Vedanta’s Billions report, says:
“Anil Agarwal is so atrocious to abstain accessible analysis afterward the Tuticorin annihilation that he ran abroad from his own aggregation AGM. We cannot him and his lath escape accountability and amends in the UK, beneath whose administration they accept committed boundless financial, animal rights and ecology crimes. The FCA and City of London charge now admit affairs adjoin Vedanta or abide complicit in enabling and mitigating these abuses.”
The address ‘Vedanta’s Billions’, appear several canicule afore the AGM, is a arbitrary of acknowledged judgments adjoin Vedanta beyond its operations, absolute its calumniating modus operandi, with adapted focus on actionable mining in Goa, abuse and tax artifice in Zambia, as able-bodied as actionable amplification and abuse in Thoothukudi, Tamil Nadu, automated adversity at Korba in Chhattisgarh, acreage adjustment and abuse issues in Punjab, displacement and aggravation of activists in Lanjigarh, Odisha, and a mineral allocation betray in Rajasthan.
Inside the AGM, agitator shareholders asked questions based on the archive of judgments adjoin the aggregation accurate in the report. One catechism from a woman who has visited the anxious breadth will ask the aggregation to acknowledge to affirmation of a abuse and a ‘land grab’ affecting primarily Dalits at the company’s Talwandi Sabo ability plant.
The address addendum that Vedanta is now the latest in a cord of London listed mining companies affiliated to the annihilation or ‘massacre’ of protesters, including Lonmin, Glencore, Kazakhmys, ENRC, Essar, GCM Resources, Anglo Gold Ashanti, African Barrick Gold and Monterrico Metals. As such, the address names the role of the City of London and the Banking Conduct Authority in ‘minimising the risks associated with Vedanta’s acknowledged violations and animal rights and ecology abuses’ and declining to investigate or penalise any London listed mining aggregation on these grounds.
The address concludes that;
“Some companies accept de-listed due to a accepted charge to accompany continued appellation aggregation strategy, which may not be accurate by shareholders’ accent on abbreviate appellation profitability. However in this case, Vedanta’s clue almanac of animal rights, ecology and banking violations, calm with its already complicated banking structure, acerb suggests that de-listing is allotment of a activity to added absolute accessible analysis of its operations.”
The address additionally includes a abundant diagram of Vedanta’s accumulated structure, as it has acquired over the years, absolute the asymmetric cardinal of carapace companies registered in assorted tax havens, absorption their opaqueness, adverse to their affirmation of actuality transparent.
Plaid Cymru MP Hywel Williams, who accustomed a archetype of the report, said:
“This is a acutely apropos and advancing report. I will be demography agenda of its allegation and gluttonous to ensure that MPs, policymakers and the Westminster Government are a of its findings. The address already afresh emphasises the charge for activity by UK authorities to investigate and adapt London-listed corporations that backpack out actionable and abandoned acts overseas.”
In Goa, area all Vedanta’s operations are shut bottomward due to a abridgement of adapted permissions to operate, the State has amorphous the action of convalescent amount owed to it as a aftereffect of Vedanta’s actionable mining amid 2007 and 2012. On 29th August this year Goa’s advisers of mines and cartography issued a Rs 97.5 crore ($13.43 million) appeal in account of non acquittal of ability for the banking years 2011-13.4
In Zambia, area the aggregation was begin accusable of a above abuse adventure in 2006, and there is affirmation of boundless alteration mis-pricing and tax evasion, Vedanta’s accessory KCM afresh had its ability accumulation partially cut by the Copperbelt Energy Corporation due to its abnegation to achieve a three ages electricity bill5. Contractors and suppliers of KCM are additionally in a continued appellation altercation with the aggregation over non-payment of invoices.6
A arresting banderole at today’s beef advertence ‘Hall of Shame – the faces abaft Vedanta’, acicular out the aerial akin abutment the aggregation has accustomed from British and Indian above politicians and added figures. Vedanta Directors accept included above Aerial Commissioner of India – Sir David Gore-Booth, above Finance Minister of India – P. Chidambaram (who additionally appeared as admonition for Vedanta in a contempo case7), above Home Secretary of India and Indian Ambassador to the USA – Naresh Chandra, mining mogul and above BHP Billiton CEO – Brian Gilbertson, above Rio Tinto CEO – Tom Albanese, and above Anglo American CEO – Cynthia Carroll. Above J. P. Morgan broker and one of the best able-bodied accepted dealmakers in London, Ian Hannam, brash on Vedanta’s advertisement as able-bodied as abounding of the City’s better mining IPOs including Xstrata, BHP Billiton and Kazakhmys.
(1) Foil Vedanta is an absolute grassroots adherence alignment focused primarily on the FTSE 250 British-Indian mining aggregation Vedanta Resources PLC. Foil Vedanta targets the aggregation in London area it is registered, as able-bodied as bond with people’s movements area Vedanta is antibacterial lives and adverse the acreage in India, Zambia, Liberia, South Africa and elsewhere.
(2) Vedanta Resources is a FTSE 250 adapted oil and mining company, who accept been called the ‘world’s best hated company’ by the Absolute bi-weekly for their continued annual of ecology and animal rights crimes for which they are actuality against all over the world.9
7Chidambaram acted as admonition for Vedanta Ltd in a case apropos the actionable amplification of the Lanjigarh refinery. The acumen was in favour of SSNP. Vedanta Ltd vs Shenzhen Shandong Nuclear Power, arresting on 31 August, 2018. Aerial Cloister of Delhi, FAO(OS) (COMM) 35/2018 & CM APPLS. 8307/2018 & 11962/2018.
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