Skip to content
Search AI Powered

Latest Stories

India’s Tamil Nadu Govt Overreached By Closing Vedanta Smelter: Court Panel

An Indian court-appointed panel said on Wednesday (28) that there were insufficient grounds to permanently close Vedanta Ltd's copper smelter and a Tamil Nadu state government’s decision to shut it amounted to administrative overreach.

Police fired on environmental protesters calling for the closure of the plant in the southern town of Thoothukudi in May this year, killing 13. State authorities responded by permanently shutting down the smelter.


But a committee of experts set up by the National Green Tribunal, the environmental court, said authorities in Tamil Nadu state where the plant is located had failed to comply with procedures before shutting down the smelter.

The company was not given any notice or opportunity to explain its position, the panel said in its order.

The grounds cited for the closure of the plant were not sufficiently "grievous to justify permanent closure", said the panel. State authorities had said that the plant was polluting.

Activists said the plant caused air and water pollution, and posed a risk to fisheries.

The environment court will decide on the panel's report on December 7.

The court is likely to follow the panel's recommendation, and if it did so, it could lead to the re-opening of the smelter.

Vedanta said the plant had been operating in line with local laws. "We as a company have always been environmentally conscious in every aspect of our operations and have followed all regulations laid down by the law," said P Ramnath, chief of Vedanta's India copper business.

Vedanta is a subsidiary of billionaire Anil Agarwal controlled Vedanta Resources and the smelter is India's second biggest. The smelter has an annual production capacity of more than 400,000 tonnes, and the company said last month the closure has affected 350 companies that buy its products.

Reuters this month reported that Vedanta had been selling copper concentrate on the spot market from stockpiles at the closed Sterlite smelter.

Reuters

More For You

FCA warns against regulatory 'race to bottom' in growth push
Nikhil Rathi
TOLGA AKMEN

FCA warns against regulatory 'race to bottom' in growth push

FINANCIAL REGULATOR has cautioned against compromising regulatory standards while attempting to boost economic growth, revealing the delicate balancing act facing Britain's financial oversight.

In a frank discussion with MPs, the Financial Conduct Authority (FCA) leadership highlighted the challenges of their expanded mandate to promote business competitiveness alongside consumer protection, reported the Times.

Keep ReadingShow less
Sanjay Bhandari's extradition appeal opens in London
Sanjay Bhandari

Sanjay Bhandari's extradition appeal opens in London

SANJAY BHANDARI, a consultant in the defence sector wanted in India on alleged tax evasion and money-laundering charges, began an appeal in the High Court in London against his extradition order.

The 62-year-old businessman had won permission to appeal against a November 2022 Westminster Magistrates’ Court ruling clearing his extradition earlier this year.

Keep ReadingShow less
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)

Murdoch's bid to secure eldest son's control of media empire fails

RUPERT MURDOCH’s attempt to secure control of his media empire for his eldest son, Lachlan, has reportedly failed, according to a US news report on Monday.

The Murdoch family, which oversees influential outlets like Fox News, The Wall Street Journal, and various British and Australian media organisations, has often been compared to the fictional dynasty in the TV series Succession. Like the show, real-life disputes within the Murdoch family have centred on control of the business after Rupert Murdoch’s death.

Keep ReadingShow less
Kamlesh Pattni faces UK sanctions for illicit gold trade
Pattni stands accused of central involvement in the infamous Goldenberg scandal. (Representational image: iStock)

Kamlesh Pattni faces UK sanctions for illicit gold trade

THE UK and US have imposed financial sanctions on Kamlesh Pattni, a British-Kenyan businessman with a controversial financial history. The punitive measures target Pattni and four of his close family members, including his wife and brother-in-law, reported the BBC.

The sanctions, announced by the UK Foreign, Commonwealth and Development Office, will result in the immediate freezing of assets, representing a significant intervention in what officials describe as a complex network of illicit gold trading spanning multiple African nations.

Keep ReadingShow less
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)

India appoints Sanjay Malhotra as new central bank governor

INDIA has appointed Sanjay Malhotra, a senior finance ministry bureaucrat, as the new governor of its central bank, the Reserve Bank of India (RBI).

The announcement was made on Monday, a day before the term of outgoing governor Shaktikanta Das was set to expire.

Keep ReadingShow less