IndiaCSR News Network
GURGAON: Sesa Sterlite Limited announced that the Shareholders of the Company, inter-alia have approved by requisite majority, the name change of the Company from its present name – Sesa Sterlite Limited to ‘Vedanta Limited’ through Postal Ballot Results announced recently.
“The name change will enable us to position ourselves strategically, create much greater value and align our businesses to a unified messaging. We want to strengthen the linkage between the global business and global stakeholders, which reflects the company’s commitment to creating value through a growing portfolio of global operations” said Tom Albanese, Group CEO, Vedanta, adding that this is a landmark decision. “Our brand Vedanta, which is globally recognized as one of the most credible names in the natural resources industry embodies excellence, trustworthiness and commitment to all its stakeholders” Albanese said.
Sesa Sterlite, the Indian subsidiary of London listed, Vedanta Resources Plc, a globally diversified natural resources company, is engaged in the exploration and production of aluminium, zinc, lead silver, copper, iron ore, oil & gas and commercial power. The planned change in name of the company will have no impact on the operations of subsidiary companies Cairn India Limited, Hindustan Zinc Ltd (HZL) and Bharat Aluminium Co. Ltd (BALCO) and the divisions of Sesa Sterlite.
The name change to Vedanta Limited will be effective post issue of Fresh Certificate of Incorporation issued by the Registrar of Companies, Ministry of Corporate Affairs (MCA), Govt. of India and other formalities to be completed with the Stock Exchanges.