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28 Aug 2012

Helan Thomas & Amy Kazmin, Financial Times

Vedanta besieged by protesters at meeting [India & UK]

Vedanta’s annual shareholder meeting was…besieged by angry protesters, as institutional investors and campaign groups peppered the London-listed Indian miner’s board with questions regarding its patchy record on community relations, corporate governance and the environment… Aviva Investors called on the miner to improve its sustainability efforts, while Standard Life said the company needed to strengthen its board. Vedanta investors passed the company’s resolutions at the meeting…Vedanta has a chequered history in India and has been dogged by allegations of flouting environmental laws, trampling over local communities and proceeding with projects before obtaining the necessary permission…Anil Agarwal, Vedanta’s founder and executive chairman, told the sometimes-hostile crowd that sustainability was the “topmost priority” for the miner.