Former chief justice of India Chandrachud says Viceroy report on Vedanta Group lacks credibility
New Delhi, July 19 (PTI) US short vendor Viceroy Research’s farewell group “lack of reliability” report and the company will be well placed to search for legal solutions, he said.
Justice Chandrachud’s words came after looking for an independent legal opinion on the allegations made in the Viceroy research report of Vedanta’s former chief justice.
According to the file, the old CJI said, “Viceroy has issued misleading reports to take short positions in listed companies and to illegally profit from the later market effect,” he said.
Justice Chandrachud said that Viceroy Research’s report on the company contained serious claims by damaging the farewell group’s work and reputation.
“The report contains serious imputations such as” Ponzi scheme “and” parasites “that damages the work and reputation of Queerist (Vedanta).
The US short vendor in the July 9 report called Vedanta Resources, led by billionaire Anil Agarwal, a “selective misinformation and unquestionable” claim that the group called “selective misinformation and unquestioned”.
Viceroy Research took a short position against Vedanta Resources’ debt, claiming that the group was “a card house built on the basis of” sustainable debt, looted assets and accounting fiction.
Vedanta replied that the report was “a malicious combination of selective misinformation and unquestionable claims” and that his authors published it without communicating with the group.
