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Author: Viceroy Research Company: Vedanta Limited (VEDL.NS)

Vedanta – ITD Alleges Tax Evasion by VRL

India's Income Tax Department alleges Vedanta used an offshore Mauritius entity to evade ~$145M in taxes, with potential 200% penalties, while six statutory demands and an adverse order were allegedly never disclosed to bondholders despite Vedanta's own disclosure policy

Dec 19, 2025 4 min read
Author: Viceroy Research Ticker: VEDL.NS

Vedanta – ESL’s Debt Raise Shows Lack of Options

Viceroy Research exposes Vedanta Limited's financial manipulation: ESL Steel's ₹2,000 crore debt raise masks liquidity crisis, reveals unsustainable business model with negative cash flow and questionable accounting practices

Dec 2, 2025 3 min read
Ticker: VEDL.NS Author: Viceroy Research

Vedanta – SEBI Confirms Investigation

SEBI investigation reveals Vedanta Resources IPO risks, regulatory probe into Agarwal network exposes potential fraud, compliance issues, and complex corporate structure threatening fundraising and demerger plans

Oct 28, 2025 3 min read
Author: Viceroy Research Ticker: VEDL.NS

Vedanta – Auditors Turn a Blind Eye to The Facts

Viceroy Research exposes Vedanta Limited's ₹8,000 crore accounting fraud, revealing systematic financial manipulation, fabricated revenues, auditor negligence, and complex related-party transactions across multiple subsidiaries

Oct 15, 2025 4 min read
Author: Viceroy Research Ticker: VEDL.NS

Vedanta – Bondholder Update

Vedanta Resources Limited faces critical liquidity crisis, with Viceroy Research exposing regulatory challenges, funding shortfalls, and potential cross-border compliance risks threatening bondholder investments and corporate governance

Oct 9, 2025 3 min read
Author: Viceroy Research Ticker: VEDL.NS

Fair Isaac Corporation (FICO) – Pricing Power Impaired?

Viceroy Research exposes $361M Vedanta financial fraud involving illegal brand fees, regulatory enforcement, and potential $1.6B corporate governance scandal threatening investor confidence and company liquidity

Sep 11, 2025 3 min read
Author: Viceroy Research Ticker: VEDL.NS

Vedanta – Our Complaint to the Securities and Exchange Board of India

Viceroy Research exposes Vedanta Resources $400M brand fee fraud scheme, revealing systematic regulatory evasion, offshore debt manipulation, and potential securities violations in Indian financial markets

Sep 1, 2025 3 min read

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