Anil Agarwal and his cronies had it coming. Their company, Vedanta Resources, last week confronted a far more vocal and aggressive presence at its London annual general meeting than ever before. For the first time too, a handful of investors stuck their head above the parapet – one of them ( Aviva) going on to vote against three agenda resolutions.
Many knives have been out against this most roguish of UK mining outfits, since it jumped onto the London Stock Exchange in 2003.
Predictably, the 2010 AGM attracted more media attention than ever before. Nonetheless, the Nyamigiri issue overshadowed all others. This was despite the fact that Vedanta’s allegedly criminal behaviour in Chhattisgarh (where over 40 workers went to their death last September), in Goa and elsewhere were raised by a number of shareholders.