+
Vedanta CFO likely to quit months after joining firm
ECONOMY & POLICY

Vedanta CFO likely to quit months after joining firm

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.

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.

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?