Thread by @TheFactFindr

#Daylight #Robery of Govt Money for the Benefit of Anil Agarwal owned Vedanta. How can the Board of Directors of Indian Govt Owned (29% Shareholder) agree to this Purchase ?

As a shareholder of Vedanta Am happy. BUT as a citizen of India, am Unhappy.

So why am I Angry ?

Anil Agarwal led Vedanta Ltd on Thursday informed Exchanges that Vedanta Ltd will sell its Zinc International assets to its 65% owned Sub Hindustan Zinc Limited for cash consideration $2,981 million (~$3bn or 25000 Crores)

So what does Hindustan Zinc Get for $3bn ? They get THL Zinc Ltd (Mauritius) whose financials in the previous years are follows
Net Income; $1.31mn …. It’s NOT a typo…. It’s 1.31Mn

Amount of net worth contributed by THLZ = (USD 408mn)

Hindustan Zinc which is 29% owned by Govt of India is allowing the Board of CASH RICH Hindustan to Make An Acquisition of A company with a NET INCOME(PAT) of $1.3 Million and Networth of $408mn for a total Consideration of $3 BILLION. Commodity Cos don’t even trade Abv Networth

This is a LOSS to the PUBLIC of India. Another SELL OUT out by the Govt of India.