Justice Recuses from Vedanta Financial Unsustainability Case

Supreme Court judge Justice K Vinod Chandran has recused himself from a case regarding allegations by Viceroy Research against billionaire Anil Agarwal's mining conglomerate. The report claims financial instability, posing risks to creditors. However, the conglomerate denies these accusations, labeling them misinformation.

In a significant development, Supreme Court Justice K Vinod Chandran on Monday stepped away from the high-profile case concerning allegations against billionaire Anil Agarwal's mining conglomstrate, Vedanta Resources.

The case, based on a report by US short seller Viceroy Research, accuses the company of being financially unstable and posing severe risks to creditors. Justice Chandran's recusal led to a postponement of the hearing by a bench including Chief Justice B R Gavai and Justice Atul Chandurkar.

The accusations, deemed as 'selective misinformation' by Vedanta, were brought forward by advocate Shakti Bhatia, who corroborated parts of the report. Viceroy, focusing on Vedanta's financial structure, had shorted the company's debts, observing potential risk factors and incomplete disclosures among related-party transactions.