Goa Congress asks SEBI to halt Vedanta listing over Rs 16,500 cr mining liability

The Goa branch of the Indian National Congress has formally approached the Securities and Exchange Board of India (SEBI), requesting a temporary suspension of Vedanta Integrated Services Ltd’s planned listing on the stock exchanges. The petition highlights concerns over a massive mining liability that the party says the company owes to the state.

According to the Congress filing, Vedanta’s mining operations in Goa have accumulated liabilities estimated at roughly Rs 16,500 crore. The party argues that allowing the company to list without first addressing these dues could undermine the financial interests of the state and its citizens.

SEBI, as the regulator overseeing securities market entries, is now tasked with reviewing the request. A decision to pause the listing could delay Vedanta’s capital‑raising plans and affect market sentiment toward mining stocks.

The Congress has not indicated any further legal action, while SEBI has declined to comment on the petition pending a formal review.