Vedanta in debt but has money to donate!

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Vedanta has donated a total of Rs 457 crore to political parties. According to the disclosure made by the company to the stock exchange, Vedanta has donated Rs 155 crore to political parties in the financial year 2023. It donated Rs 65 crore in FY 2019, Rs 114 crore in FY 2020, Rs 123 crore in FY 2022 and Rs 155 crore in FY 2023 to political parties. All these donations have been made in the form of electoral bonds. In 2018, the Electoral Bond Scheme was launched as an alternative to cash donation. Since then, it has been used a lot in the form of donations. What’s to be noted is that, the company has a huge debt and despite having such a huge debt on itself, why is the company donating so much too to political parties?

RIL gets RBI nod to retain extra $2b from lenders Reliance Industries has received the Reserve Bank of India’s permission to retain $2 billion over and above the $3 billion it had raised last fiscal in what was the largest syndicated loan facility in years. As per reports, the Central bank permission was sought because the amount collected was above the limits mandated by RBI. Reliance plans to use the money to fund working capital needs and to expand its new energy and telecom business. The company went in for two rounds of syndication in which the lenders were willing to offer more than required. Even earlier RBI has given permission to companies to retain additional money.