JHARSUGUDA: Sesa Sterlite Limited has changed its name to Vedanta Limited recently.
However, the change in the name 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 Vedanta Limited.
The shareholders of the company had approved the move of the company through postal ballot and the result was announced on March 30. The name change to Vedanta Limited is effective after issue of ‘Fresh Certificate of Incorporation’ by the Registrar of Companies of Ministry of Corporate Affairs (MCA).
“The name change from Sesa Sterlite to Vedanta Limited promises a united and aligned identity, Vedanta, which positions us to create greater value for our domestic and global stakeholders as a diversified natural resources group of companies. Vedanta embodies commitment to deliver world class excellence with low cost operations and superior shareholder returns,” informed Group CEO of Vedanta Tom Albanese in a press release.
Vedanta Limited, the Indian subsidiary of London listed Vedanta Resources Plc and a globally diversified natural resources company, is engaged in the exploration and production of aluminium, zinc, lead silver, copper, iron ore, oil and gas and commercial power.