Vedanta CFO likely to quit months after joining firm

25 Oct 2023 CW Team

Vedanta Ltd. is on the verge of losing its third Chief Financial Officer (CFO) in as many years, just as the mining conglomerate, under the control of billionaire Anil Agarwal, embarks on an ambitious restructuring of its operations, sources with knowledge of the matter have disclosed. Sonal Shrivastava, who assumed the role in June, conveyed her decision to depart to Agarwal last month, as per insiders who preferred to remain anonymous as this information is not yet public. Agarwal is reportedly in discussions with finance professionals who previously worked within the group to find a replacement, with a decision anticipated as early as this week.

The potential departure of Shrivastava poses further challenges for Agarwal, as his holding company, Vedanta Resources Ltd., faces impending bond repayments amounting to approximately $3 billion over the next two years. The group has been actively engaging with bondholders to explore options for restructuring the terms of these upcoming maturities. If Shrivastava's resignation is accepted, it would follow the departures of G. R. Arun Kumar in 2021, following an unsuccessful attempt by Agarwal to privatize the Mumbai-listed company, and Ajay Goel, who left earlier this year.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..