The National Company Law Tribunal (NCLT), Kolkata Bench, has approved the scheme of amalgamation of Vedanta’s arm--Vedanta Star with Electrosteel Steels (ESL). Post the amalgamation becoming effective, Vedanta will directly hold 95.48 per cent in ESL.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.