The OCCRP has published a report claiming that India's largest industrial conglomerate engaged in covert lobbying efforts to weaken crucial environmental regulations.
New Delhi: In a development following the Adani Group controversy outlined in the OCCRP report, Vedanta Resources Limited, another prominent Indian company with diverse business interests spanning mining and oil, is now facing allegations of irregularities. The OCCRP has published a recent report claiming that India's largest industrial conglomerate engaged in covert lobbying efforts to weaken crucial environmental regulations during the Covid-19 pandemic. This new revelation emerged on Friday, just a day after OCCRP's report accusing the Adani Group of share manipulation, alleging that significant sums of money were invested in Adani Group shares through an opaque fund in Mauritius, involving business partners closely associated with the Adani family. Hindenburg had previously made similar accusations against the Adani Group, although these allegations were firmly denied by Adani.
On the same day, the Organization Crime and Corruption Reporting Project (OCCRP) report asserted that the Indian government had approved these regulatory changes without conducting public consultations and employed what it deemed "illegal methods" for their implementation. However, Vedanta's spokesperson refrained from offering any comment to the media on these allegations.
The OCCRP report highlighted one instance where Vedanta led a campaign to enable its mining subsidiaries to increase production by up to 50% without obtaining new environmental clearances. Furthermore, the report indicated that Vedanta's oil subsidiary, Cairn India, successfully lobbied to eliminate the requirement for public hearings in the case of exploratory drilling in oil blocks acquired through government auctions. Despite local opposition, the OCCRP report contends that Cairn's six controversial oil projects in Rajasthan were subsequently approved.
According to reports, in January 2021, Anil Aggarwal, the Chairman of the Vedanta Group, approached the former Environment Minister, Prakash Javadekar, suggesting that mining companies could significantly boost production by up to 50% without the necessity of securing fresh environmental approvals, potentially aiding India's economic recovery. He articulated the idea of providing incentives to expedite India's rapid economic recovery by permitting mining companies to augment production by up to 50% without the requirement for additional environmental clearances in a letter to then-Environment Minister Prakash Javadekar.
In response to the OCCRP report, Vedanta emphasized its position as one of India's leading natural resource companies committed to enhancing domestic production in a sustainable manner. The company asserted that it submits projects to the government with the goal of advancing national development and India's progress toward self-sufficiency in natural resources.
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