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CBI registers PE against Vedanta Chairman Anil Agarwal

 CBI has registered a preliminary enquiry against Vedanta Group Chairman Anil Agarwal in connection with alleged irregularities in the disinvestment of HZL during the period of NDA govt

 23 Dec, 2013,
NEW DELHI: CBI has registered a preliminary enquiry against Vedanta Group Chairman in connection with alleged irregularities in the disinvestment of Hindustan Zinc LtdBSE -2.41 % (HZL) during the period of NDA government.

The agency believes that the loss caused to the exchequer due to the alleged irregularities runs into hundreds of crore.

The preliminary enquiry is against Agarwal and unknown officials of HZL, Ministry of Disinvestment and Ministry of Mines,  .CBI sources said.

Vedanta spokesperson did not respond to queries in this regard.

It is alleged in the inquiry that Sterlite IndustriesBSE 2.79 %, part of Vedanta Resources, had picked up stake in the public sector undertaking at an undervalued price resulting in the estimated losses running into hundreds of crore to the exchequer, CBI sources said.

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