Reconstitution of NCLT Mumbai Further Delays Vedanta Demerger; Next Hearing on November 12

The long-awaited Vedanta Ltd demerger has faced yet another setback as the reconstitution of the National Company Law Tribunal (NCLT) Mumbai Bench has led to a fresh delay in proceedings. The next hearing in the case has now been scheduled for November 12, 2025, according to sources familiar with the matter.

The restructuring of NCLT benches, which involves reassignment of judicial and technical members, has resulted in several corporate cases—including Vedanta’s demerger—being temporarily put on hold. The delay has added uncertainty to Vedanta’s ambitious plan to split its diversified businesses into six independent listed entities, covering verticals such as aluminium, power, oil & gas, and base metals.

Vedanta had announced its demerger proposal in September 2023, aiming to unlock value for shareholders and streamline operations. However, the process has been repeatedly delayed due to regulatory reviews and tribunal scheduling issues.

A company spokesperson said, “Vedanta remains fully committed to the demerger process and continues to engage with all relevant authorities to ensure compliance and timely completion once the NCLT proceedings resume.”

Analysts note that the delay could impact investor sentiment in the short term but believe the long-term strategic rationale for the demerger remains strong, especially given the global demand for metals and energy transition materials.

The NCLT Mumbai Bench is expected to resume normal functioning once the new panel is fully constituted, after which Vedanta’s case will move forward.