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The Mumbai Bench of NCLT additionally directed Vedanta and the Ministry to file written submissions in 5 days.
The counsel representing the Ministry of Petroleum and Natural Gas advised the tribunal that they’re asking concerning the particulars of the RJ block, and sought clarifications on disclosures.
The counsel additional stated the Ministry additionally needs disclosures on the concealment of information, which incorporates displaying the exploration blocks as Vedanta’s belongings and particulars of the mortgage taken on the premise of these belongings.
“As a regulator and a creditor, it is my duty to bring all these facts before the tribunal to show that whether the scheme is clear or it is opaque. We are asking for disclosures on the RJ-ON-90/1 Oil and Gas Block, an operating oil and gas block in Rajasthan. We are asking for clear disclosures,” the counsel acknowledged.
Responding to the Ministry’s assertions, Vedanta’s counsel stated the NCLAT has cleared Vedanta’s plan to restructure its energy and steel companies on Tuesday (September 16, 2025), which incorporates Talwandi Sabo Power, after a settlement with EPC contractor Sepco cleared key procedural hurdles.
TSPL, a part of Vedanta, had filed a scheme of association earlier than NCLT as a part of a wider demerger. Further, Vedanta’s counsel acknowledged that the corporate has already complied with all of the compliances required.
Meanwhile, Sepco Electric Power Construction Corporation withdrew its intervention utility after it reached a settlement on September 11, 2025.
In its intervention utility, Sepco had alleged that TSPL and Vedanta didn’t disclose a debt of about ₹1,251 crore arising from EPC disputes, which, it claimed, would have affected the corporate’s valuation.
After listening to each the counsels, the Mumbai Bench, headed by Justice Mohan Prasad Tiwari and Charanjeet Singh Gulati, directed Vedanta and the Ministry to file written submissions in 5 days and deferred the ultimate listening to on the scheme to October 8, 2025.
Earlier on August 20, the tribunal had deferred the listening to on the Vedanta demerger to September 17, 2025 as market regulator Securities & Exchange Board of India (SEBI) was but to finish the scrutiny of the proposal, whereas the Petroleum and Natural Gas Ministry had raised sure objections and sought time to current its observations on the scheme.
Vedanta had filed a scheme of association earlier than NCLT Mumbai bench masking 4 group firms — Vedanta Aluminium Metal, Talwandi Sabo Power, Malco Energy, and Vedanta Iron and Steel — together with their shareholders and collectors. The Ministry of Petroleum and Natural Gas had objected to Vedanta’s proposed demerger.
The SEBI has raised no objections to the scheme, although it sought additional particulars on the proposed base metals carve-out. That explicit carve-out is now not half of the present plan, after Vedanta revised its unique blueprint.
Initially, the corporate had outlined a plan to separate into six unbiased entities: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and Vedanta Limited. The revised scheme, nevertheless, retains the bottom metals enterprise throughout the guardian firm.
The demerger was proposed to streamline operations, enhance administration focus, and unlock shareholder worth. In March 2025, the deadline for finishing the demerger was prolonged to September 30, 2025, owing to pending approvals from the NCLT and different authorities our bodies.
