Vedanta Group Faces Corruption Charges, INTUC District President Calls for Stringent Legal Measures
Korba, July 13: The Vedanta Group is facing severe corruption allegations. Shashank Dubey, INTUC District President of Korba, Chhattisgarh, has written to Radhika Chauhan, Secretary of the Ministry of Personnel, Public Grievances, and Pensions, alleging that officials in the Ministry of Mines have colluded with Vedanta Limited in financial irregularities and failed to take appropriate actions.
Shashank Dubey stated that despite submitting complaints to various authorities, including the President’s Secretariat and Cabinet Secretary, no action has been taken. He claims that the Secretary of Mines and the Joint Secretary (Administration) have failed to update him on the status of his complaint and have tried to deceive him. Additionally, he emphasized that the Ministry of Mines has suspiciously appointed Sanjeev Verma to the BALCO board.
Dubey mentioned that according to the Department of Personnel and Training’s official memorandum No.142/16/2013-AVD.I dated July 21, 2016, no action has been taken by the Ministry of Mines regarding his complaint, highlighting suspected corruption within the ministry.
Vedanta Limited has been fined by SEBI for providing false information. Furthermore, the company faces accusations of other financial irregularities and related party transactions. If Vedanta Limited has submitted false documents before the Goa and Madras High Courts or engaged in fraud without SEBI and CCI approval, it constitutes fraud against FIIs, DIIs, public shareholders, and the Ministry of Mines of the Government of India.
According to Dubey, the company has violated Section 187 of the Companies Act, 2013, by providing undue benefits to firms related to the Board of Directors’ relatives. In the cases of BALCO and HZL, special permission from government-appointed directors was required but not obtained.
He pointed out that complaints of corruption, financial irregularities, human rights violations, and breaches of labor laws related to BALCO have not been addressed. Dubey has demanded departmental investigation and prosecution under the Prevention of Corruption Act, 1988, All India Service Rules, 1968, Central Civil Services Rules, 1965, and Sections 119, 120B, 420, 467, 468, and 471 of the Indian Penal Code.
Additionally, Dubey has called for the cancellation of BALCO’s IPO proposal and the re-establishment of management control in favor of the Government of India under Section 18 of the Industries Act, 1951, Section 68 of the Companies Act, 2013, and Clause 4.5 of the Shareholder Agreement.
He has also demanded the strictest legal action against Vedanta Limited and compliance with the provisions of the Right to Information Act, 2005.
The issues raised by Dubey are serious, involving multiple legal and financial irregularities. It is crucial that the concerned higher authorities and departments conduct a thorough and impartial investigation into these complaints to ensure necessary action is taken.
