Vedanta’s proposed demerger received objections by the Securities and Exchange Board of India and the central government last month.

SEBI informed the NCLT that Vedanta had made changes to the scheme of arrangement without disclosing them to the regulator or getting any prior permission. The market watchdog then issued an administrative warning letter dated Aug. 13 to the company.

Vedanta spokesperson, however, mentioned in a media statement, that SEBI has confirmed it has no further comments on the merits of the scheme, and it had issued an administrative cautionary letter over a procedural lapse. This letter carries no financial or operational restrictions, and the matter has already been disclosed by the company. The company has received NOCs from stock exchanges on the modified scheme.

The government also flagged concerns, stating that Vedanta had allegedly concealed certain liabilities in connection with the demerger proposal. These submissions prompted the tribunal to adjourn the matter for further consideration.