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 Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

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