MUMBAI: Vedanta Limited announced that the Board of Directors in their meeting held onMarch 13, 2018approved the appointment of U.K. Sinha as a Non-Executive Independent Director with effect from close of business hours onMarch 13, 2018.
Sinha who has earlier served as the Chairman of Securities and Exchange Board of India (SEBI) from February 2011 to March 1, 2017 has been instrumental in bringing about key capital market reforms.
Under his leadership, SEBI introduced significant regulatory amendments to the various acts enhancing corporate governance and disclosure norms. Prior to SEBI, he was the Chairman & MD of UTI Asset Management Company Pvt. Ltd. and has also worked for Department of Economic Affairs at Ministry of Finance.
Speaking on the development, Navin Agarwal, Chairman Vedanta Limited, said, “We warmly welcome UK Sinha on the Board. Sinha is an architect of strong regulatory regime for India’s capital markets. As a corporate with highest standards of corporate governance and ethics, we believe, this will be a befitting association.”
U.K. Sinha said “In the current environment, with greater emphasis on disclosure and governance for corporate India, I am glad to contribute to Vedanta Limited achieving greater levels in its corporate governance practices”
Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc – lead – silver, aluminium, copper, iron ore and commercial power. It has a portfolio of world-class, low-cost, scalable assets.
Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India. The company is in the Nifty 50 Index and has ADRs listed on the New York Stock Exchange.