Tag Archives: Anil Agarwal

Vedanta boss avoids last AGM as protests rage

1st October 2018. Loud protests took place at the company’s last London AGM today. Company founder and Chairman Anil Agarwal was not present, creating uproar among protesters and shareholders. Vedanta Resources officially de-listed from the London Stock Exchange at 8am this morning. Inside the meeting dissident shareholders asked questions about the police shooting of thirteen protesters against Vedanta’s copper smelter in Tuticorin, Tamil Nadu in May. Another shareholder asked how much Vedanta spent on litigation or bribes, given the number of court cases they are tied up in at their various operations. Meanwhile a large contingent of Tamil people played traditional Parai drums and demanded ‘justice for Tuticorin’ outside the AGM.

See a video of the protest here…and here

See here for a full report on the AGM proceedings by London Mining Network: Vedanta AGM – a complete farce.

Coverage by Reuters here and on Moneycontrol here,and in The Hindu here,and Business Standard here, and on MSN here and Lusaka Times here.

Please download the report Vedanta’s Billions- Regulatory failure, environment and human rights , or low res version: Vedanta’s Billions- Regulatory failure, environment and human rights – LOW RES

Hours before the meeting a protest was held at Financial Conduct Authority (FCA) headquarters in Canary Wharf, demanding that British regulatory authorities do not let Vedanta flee the London Stock Exchange without being held to account. Representatives for FCA Directors were handed copies of a damning report Vedanta’s Billions- Regulatory failure, environment and human rights published by Foil Vedanta and a coalition of organisations days before. The report was described by Hywel Williams MP as ‘deeply concerning and disturbing’ and gives a comprehensive account of legal judgments against Vedanta across its global operations, blaming the City of London and FCA for failing to regulate or penalise the company, which is the latest in a long list of London miners linked to ‘corporate massacres’.

Reggae artist and activist Maiko Zulu in Lusaka

On Thursday 27th September popular Zambian reggae artist and public figure – Maiko Zulu – was arrested outside the British High Commission in Lusaka, Zambia, holding a banner stating ‘Hold Anil Agarwal to account for Zambian crimes before de-listing’. Zulu gave this statement to the media, referring to the Vedanta subsidiary KCM’s pollution of the River Kafue, for which the landmark case of 1,826 farmers against Vedanta will be heard in London Supreme Court in January, as well as the Tuticorin ‘massacre’:

Vedanta is being de-listed from the London Stock Exchange following serious crimes against indigenous people of India and the pollution of our own Kafue River which is a source of livelihood for thousands of peasants. The inequality that multinationals are creating can not be left unchecked and we will continue standing up and facing arrests for the good of our people. Our fellow protesters were shot at by police in India.”

Continue reading

‘Vedanta’s Billions: Regulatory failure, environment and human rights’ – report released

Foil Vedanta and a coalition of organisations have released a damning report Vedanta’s Billions- Regulatory failure, environment and human rights days before Vedanta Resources’ AGM and de-listing, described by Hywel Williams MP as ‘deeply concerning and disturbing’. The report gives a comprehensive account of legal judgments against Vedanta across its global operations, and blames the City of London and Financial Conduct Authority (FCA) for failing to regulate or penalise the company, which is the latest in a long list of London miners linked to ‘corporate massacres’. A protest will be held at the FCA headquarters in Canary Wharf at 11am on 1st October, handing over a copy of the report and demanding that British regulatory authorities do not let Vedanta flee the London Stock Exchange without being held to account.

The full report can be downloaded HERE: Vedanta’s Billions- Regulatory failure, environment and human rights

Or low resolution version for slow download speeds: Vedanta’s Billions- Regulatory failure, environment and human rights – LOW RES

The report ‘Vedanta’s Billions’, released today, is a summary of legal judgments against Vedanta across its operations, revealing its abusive modus operandi, with special focus on illegal mining in Goa, pollution and tax evasion in Zambia, as well as illegal expansion and pollution in Thoothukudi, Tamil Nadu, industrial disaster at Korba in Chhattisgarh, land settlement and pollution issues in Punjab, displacement and harassment of activists in Lanjigarh, Odisha, and a mineral allocation scam in Rajasthan.

The report is being released days ahead of the company’s final London AGM and General Meeting, at which it plans to formally de-list from the London Stock Exchange. The move follows the police shooting which killed thirteen people, including women and children, on 22nd May this year, their 100th day of protest against pollution by Vedanta’s copper smelter in Tuticorin, India. The killing is being dubbed a ‘corporate massacre’ and led to the closure of the Sterlite copper plant. Vedanta’s de-listing plans were announced shortly afterwards amidst global protests against the company.

The report notes that Vedanta is now the latest in a string of London listed mining companies linked to the murder or ‘massacre’ of protesters, including Lonmin, Glencore, Kazakhmys, ENRC, Essar, GCM Resources, Anglo Gold Ashanti, African Barrick Gold and Monterrico Metals. As such, the report names the role of the City of London and the Financial Conduct Authority in ‘minimising the risks associated with Vedanta’s legal violations and human rights and environmental abuses’ and failing to investigate or penalise any London listed mining company on these grounds.

A protest will be held outside the FCA headquarters on the morning of the AGM on 1st October, demanding that the body finally investigates the company and holds them to account for the various crimes detailed in the report. The report will be handed to a member of FCA staff at the event.

The report concludes that;

Some companies have de-listed due to a legitimate need to pursue long term company strategy, which may not be supported by shareholders’ emphasis on short term profitability. However in this case, Vedanta’s track record of human rights, environmental and financial violations, together with its already complicated financial structure, strongly suggests that de-listing is part of a policy to further limit public scrutiny of its operations.”

The report also includes a detailed diagram of Vedanta’s corporate structure, as it has evolved over the years, revealing the disproportionate number of shell companies registered in various tax havens, reflecting their opaqueness, contrary to their claim of being transparent.

Continue reading

Call out – Last London AGM protest, 1st October!

On 1st October Vedanta will hold their last AGM in London before de-listing from the London Stock Exchange, under pressure from MPs and activists following the Thoothukudi massacre in Tamil Nadu May.

At this final AGM, Foil Vedanta will be celebrating the notable victory of Vedanta’s de-listing (which seriously curtails their corporate ambitions), and the success of grassroots activism which has shut down Vedanta’s operations in Goa, Tuticorin and Niyamgiri, with a carnival theme.

Please join us to kick Vedanta out of London once and for all!

Bring drums, whistles and colourful flags and clothes!

Monday 1st October, 2-5 pm Lincoln Centre, Lincoln Inn Fields, London, WC2A 3ED

Decry the complicity of the City of London in Vedanta’s corporate massacre of 13 environmental protesters at Thoothukudi in May, the latest in a long history of corporate murders and massacres of activists by London mining companies.

Vedanta’s exit from London is in fact a ‘divorce of convenience’ for the City, who have totally failed to regulate Vedanta, or any other criminal mining company to this day.

We will also be releasing our report ‘Vedanta’s Billions: Regulatory failure, environment and human rights’ – which gives a comprehensive account of the company’s crimes at all of its operations, and the City of London’s complicity, on Thursday 27th Septmber, before the AGM.

On 1st October the company will also sign contracts for 41 new oil and gas blocks in India, where their subsidiary Cairn India (part of Vedanta Ltd) have already been using unconventional extraction methods (fracking) in Rajasthan.

If you are keen to ask questions inside the AGM as a dissident shareholder please get in touch and we will arrange a proxy share for you.
#KickVedanta #BanSterlite #BringAnilAgarwal2Justice

London protests condemn Thoothukudi Vedanta Massacre; Demand action in India and the UK

26th May 2018 An angry protest took place today at the Indian High Commission in London. The people were condemning the police firing which killed at least 13 unarmed protesters at an environmental demonstration against British company Vedanta Resources’ copper smelter in Thoothukudi (Tuticorin), Tamil Nadu on Tuesday. There was a strong call from all groups present today to delist Vedanta from the London Stock Exchange, while Shadow Chancellor John McDonnell also sent a statement demanding that Vedanta is de-listed as a ‘rogue corporation’.

  • Recent updates on the ground situation in Tuticorin and ongoing UK protests are also included at the end of this post.

A large and diverse crowd gathered outside the Indian High Commission

There were many speeches and songs from the people today. They shared new information such as Sterlite’s donations to the Police control room in Thoothukudi and highlighted the parallels and called for solidarity with Gaza, Marikana and Kalinganagar massacres. The London protest was called by Foil Vedanta, Tamil People in UK, Periyar Ambedkar Study Circle, South Asia Solidarity Group, Tamil Solidarity, Parai Voice of Freedom and Veera Tamilar Munnani.

Continue reading

The anti-Sterlite movement: Saga of a struggle

Crowds throng at 24th March 2018 public meeting

20th April 2018. This detailed history of the anti-Sterlite movement by Ilangovan Rajasekaran was first published in Frontline magazine on April 17. Reproduced with permission of Frontline and the author here.

In Tamil Nadu’s Thoothukudi district, protests against Sterlite’s copper smelter plant get a second wind as local residents’ health and environmental concerns over the company’s expansion plan lead to the revival of a long-forgotten people’s movement.

PEOPLE of the port town of Thoothukudi (Tuticorin) in Tamil Nadu had never before poured out onto the streets in such large numbers as they did on March 24 in solidarity with the 100-odd residents of Kumareddiapuram who are waging a battle against the proposed Rs.3,500-crore expansion plan of Sterlite Industries (India) Limited’s giant copper smelter plant situated in the State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) complex that adjoins Kumareddiapuram and a few other villages.

Continue reading

London and Tuticorin mass rally to ban Sterlite

Anil Agarwal's London mansion

Anil Agarwal’s London mansion

24th March 2018 A noisy protest took place at 42-44 Hill Street in Mayfair, London, today, as British Tamils armed with traditional Parai drums joined with major demonstrations in Tuticorin in Tamil Nadu, India, against the expansion of British company Sterlite’s copper smelter in the State. The London protest, which took place at the $20 million home of company boss Anil Agarwal, was called by Foil Vedanta, Tamil People in UK and Parai – Voice of Freedom.

See a short video of the London protest HERE

Coverage in Hindustan Times – British Tamils protest outside Vedanta chief Anil Agarwal’s home in London

The News Minute – Can you hear the voice of UK Tamils? Sterlite protests outside Vedanta founder’s house in UK

Ban Sterlite protest TuticorinMeanwhile in Tuticorin 250,000 people packed the streets for a major demonstration and public meeting organised by the Anti Killer Sterlite People’s Movement. Shutters on shops throughout the town were also down today following a total shutdown (bandh) called by The Merchant’s Association. This is the biggest protest yet against the Sterlite plant, and comes on the 40th day of continuous protest in the town, demanding that the plant is permanently closed and the expansion stopped. Permission for the protest was initially turned down by police but was successfully challenged by activists and granted by the High Court on 14th March.

Continue reading

London ruling awards Zambia $139 million from KCM

Lionel Persey QC passed the judgment against KCM

Lionel Persey QC passed the judgment against KCM

18th Jan 2018 In the third major London case against Vedanta subsidiary Konkola Copper Mines (KCM) since 2014, the English High Court on January 2nd ordered KCM to pay $139 million plus costs to Zambian government entity ZCCM Investment Holdings (ZCCM-IH) for sums owed as part of a copper and cobalt price participation agreement dating back to 2004, when Vedanta took over the Zambian copper mine. ZCCM-IH is the 20.6% shareholder of KCM. In February 2013 various claims of non-payment against KCM were the subject of a Settlement Agreement in which KCM agreed to pay a total of $119 million to ZCCM-IH in two instalments. However they subsequently reneged on the agreement after paying only $19 million, forcing ZCCM-IH to take them to London courts. In the High Court’s January summary judgment a further $36 million was awarded for KCM’s further breaching of the Settlement Agreement by making payments to its parent company Vedanta Resources while the amounts due to ZCCM-IH were still outstanding. (Download the full judgment here)

Continue reading

‘Zero harm’ – Minutes of Vedanta Resources’ 2017 AGM

Screen Shot 2017-09-08 at 16.58.457th September.  This year was Vedanta’s 14th AGM, since registering on the London Stock Exchange in December 2003, and the 14th year that dissident shareholders have attended the meeting to hold the company to account for their environmental and human rights abuses. The minutes published by activist shareholders every year, documenting the company’s response to these, and other questions, represent important disclosures on Vedanta’s operations, finances and legal issues. Please spread them far and wide!

Minutes of Vedanta Resources’ 2017 AGM

In the beginning

1. After lengthy introductory remarks, the Chair, Anil Agarwal, opened the meeting. He called 2017 a year of great potential for Vedanta, noting they were now the sixth largest diversified resources company.  He claimed that since 2003 the group has returned over £2 billion to shareholders, and heralded Vedanta’s  positioning, because India and Africa give a unique opportunity for growth. While other companies look to China, he said, Vedanta has India, which is the fastest growing country in the world. Vedanta claims to be one of the biggest tax payers in India. By way of demonstrating his political connections in India, Mr. Agarwal noted he was able to join the Indian State visit to South Africa.

2. He assured shareholders that safety across the company continues to be a priority, claiming again that they are making zero harm, zero waste and zero discharge the ultimate goal. There is some way to go, but he claimed they will not stop until they have achieved this. Agarwal highlighted the ‘challenge’ of climate change and claimed that Vedanta takes its responsibility to society seriously, with various claims to be helping up to 2 million people, especially women and children. In July the company had held its third annual sustainable development meeting with various stakeholders in London. They claimed to welcome ongoing dialogue with NGOs, governments and stakeholders.

Continue reading

Vedanta’s 2017 AGM again disrupted by protests

Anil Agarwal at Vedanta AGM protest 2017, London14th August 2017. Loud and theatrical protests were again held outside the AGM of British mining company Vedanta Resources’ at the Lincoln Centre, Lincoln Inn Fields, London at 2pm today accusing the company of major environmental and human rights abuses across its operations. Parallel protests and meetings were held today by affected communities and their supporters at several locations in India and Zambia. Inside the AGM, dissident shareholders asked questions on behalf of Zambian villagers who are suing Vedanta in the UK for twelve years of polluted water, as well as tribal inhabitants of the Niyamgiri hills in Odisha, India who accuse Vedanta of murdering and harassing them with state collusion.

Please see the video of today’s protest in London!

and excellent photos from Peter Marshall here.

Coverage on Xinhau news: Environmental protesters picket annual meeting of mining firm Vedanta.

Dissident shareholders in London poured scorn on Vedanta’s 2017 Annual Report, which claims that the company ‘demonstrate world-class standards of governance, safety, sustainability and social responsibility’. They say it represents a poor attempt to don the ‘cloak of respectability’ of a London listing noting that Vedanta was again excluded from the Norwegian Pension Fund’s investments this year following an investigation which found “numerous reports of Vedanta’s failure to comply with government requirements” at four subsidiaries in Odisha, Chhatisgarh, Tamil Nadu and Zambia. The report concludes, “there continues to be an unacceptable risk that your company will cause or contribute to severe environmental damage and serious or systematic human rights violations.”

Vedanta AGM protest 2017, LondonOn Sunday farming communities living downstream of copper mines run by Vedanta subsidiary Konkola Copper Mines (KCM) in Chingola, Zambia, held a meeting in Hippo Pool to renew their resolve in their twelve year struggle against the company for severe water pollution which has caused major health problems, and rendered land uncultivable. Police had refused them permission to hold a protest. Government officials visited their villages in Spring this year asking them to drop their London case against Vedanta and settle out of court with the company. The Headmen of Hippo Pool village submitted this statement to the Vedanta board and shareholders which was asked by Shoda Rackal from Women of Colour in Global Women’s Strike:

The people here are sick and tired of pollution which is killing us through illness and loss of our crops and fish. The pollution must end at all costs. Whether we receive compensation or not, we are asking you to stop polluting us now.”

Continue reading

“Police this gateway” – Report on London appeal hearing of Vedanta vs Lungowe

RCJ demo 5th July 20176th July. This report is a detailed account of hearings in Vedanta’s appeal against Justice Coulson’s 2016 judgment allowing the case of Zambian villagers polluted by KCM/Vedanta to be heard in the UK, which took place during the 5th and 6th July.

At 9am on Wednesday 5th of July activists from Foil Vedanta Pan African Society Community Forum (PASCF), Women of Colour in Global Women’s Strike and London Mining Network rallied outside the Royal Courts of Justice with placards and banners calling for justice for thousands of Zambian villagers polluted by Konkola Copper Mines, a subsidiary of UK firm Vedanta Resources PLC. At 10am the court session in Vedanta’s appeal to the May 2016 judgment, which allowed the claimants case to be heard in the UK, began.

The protesters sat in the public gallery of the small court which was packed with observers and press. In the benches, Vedanta’s legal team consisted of two QCs instructed by ‘magic circle’ corporate law firm Herbert Smith Freehills , as well as three assistants. Behind them Vedanta’s company secretary Deepak Kumar attended along with Geoffrey Green, a non executive director and former partner in law firm Ashurst LLP. On the claimant’s side personal injury firm Leigh Day Solicitors also had two QCs and a number of lawyers and assistants including firm partner Martyn Day sitting at the back. Above them on the judges bench the case was heard by Lord Justice Jackson, Lord Justice Simon and Mrs Justice Asplin.

Wednesday’s hearing was almost entirely taken up with the lengthy appeal plea of Vedanta’s lawyer, Mr Charles Gibson QC. His argument, which we give in detail here, hung on these points:

Continue reading