VEDANTA IRON AND STEEL : DISCLOSES ADJUDICATION ORDER AGAINST ESL STEEL LIMITED

• ESL Steel Limited, a subsidiary of Vedanta Iron And Steel Limited, received an Adjudication Order from the Registrar of Companies, ROC Ranchi. • The order pertains to violations of Section 197(15) read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. • The matter relates to the financial years 2015-16 to 2017-18 concerning alleged non-disclosure of director's remuneration ratio to median employee remuneration. • ESL is exempted from penalty as per Section 32 A of the IBC 2016. • Ex-Directors have accepted penalties and will remit them as directed by the Adjudicating Officer. Impact: Neutral (Procedural disclosure regarding an order against a subsidiary; no penalty on the subsidiary itself.)

Vedanta Iron and Steel Limited

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