Dividend Allegations - Business Outrank

The Singapore police force investigates Vedanta dividend distribution practices following Viceroy Research short-seller allegations that the company made improper dividend payments through a $900 million Oaktree Capital Management loan in 2024. Viceroy Research claims Vedanta used a $900 million Oaktree Capital Management loan to fund dividends before Singapore-based entities reversed the write-offs. The company denied these baseless accusations which it described as malicious. The company maintains that all dividend payments followed legal procedures and it has not received any official police investigation regarding its operations. The ownership structure of Vedanta Ltd consists of 56% belonging to UK-based Vedanta Resources while institutional investors control the remaining portion. Viceroy Research has previously made similar accusations against Vedanta Resources. The company faces new allegations from Viceroy Research which state Vedanta Resources is using its Indian unit to pay off debt through false profit reporting and unaffordable cash flow management. The company's free cash flow generated $5.6 billion less than its dividend payments during the three-year period according to Viceroy. The company officials have dismissed these allegations as investor deception attempts through false information. The company faces ongoing challenges to decrease its $11 billion debt while dealing with restructuring difficulties because the government rejected its demerger proposal.

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