Business News/ Companies / News/  Vedanta acting CFO Ajay Goel resigns with effect from 9 April

Vedanta Ltd on Tuesday informed that Ajay Goel has resigned from the position of acting chief financial officer with effect from 9 April, 2023.

The company said that Ajay Goel resigned to pursue opportunities outside the group and it will announce the details of the successor in due course, in a regulatory filing.

“Taken note of the resignation of Mr. Ajay Goel from the post of Acting Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company effective from close of business hours on April 09, 2023, to pursue career outside of the Group," said Vedanta in a regulatory filing.

"The Company and Board placed on record its appreciation for the commitment and contribution made by him during his tenure and wish him very best for his future endeavours," the filing added.

The resignation comes at a time when Anil Agarwal led Vedanta Group, is struggling to deleverage its balance sheet, with credit rating agencies raising refinancing risks for the company’s bonds.

Recently,  Anil Agarwal-led Vedanta Ltd said that talks of any stake sale in the mining major was "untrue and baseless", reported Reuters, after a media report that the tycoon was weighing selling less than 5% stake in the company.

Agarwal’s Vedanta Resources Ltd., which owns about 70% of Vedanta, has been in talks with at least three banks for a loan of as much as $1 billion, Bloomberg News reported earlier this month. The discussions are ongoing and no final decisions have been made on the loan.

Vedanta Ltd on Tuesday declared its fifth interim dividend of 20.50 per equity share or 2050 per cent for financial year 2022-23, amounting to 7,621 crore. The company has fixed 7 April, 2023, as the dividend record date.

On Tuesday, the company's scrip ended 0.55% up at 274.20 on BSE.

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Updated: 28 Mar 2023, 06:34 PM IST
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