Justice Vinod Chandran Recuses From Hearing PIL Seeking Probe Against Vedanta Group Over Allegations By Viceroy LLC

Justice K Vinod Chandran of the Supreme Court on Monday recused from hearing a public interest litigation (PIL) seeking investigation into the allegations made by US-based short-seller Viceroy Research LLC against Vedanta group companies.

The PIL, filed by Shakti Bhatia, was listed before a bench of Chief Justice of India BR Gavai, Justice K Vinod Chandran and Justice Atul S Chandurkar. 

Justice Chandran was earlier a partner of the law firm which was appearing for the respondent-SEBI.

The petition will now be listed before another bench.

The petitioner sought directions to SEBI, RBI and Ministry of Corporate Affairs to investigate into the alleged fraud, financial manipulations, price rigging, and regulatory violations committed by public listed entities, namely Vedanta Limited (listed as “VEDL”), Hindustan Zinc Limited (listed as “HZL”), and Vedanta Resources Limited (“VRL PropCo”), along with its sister concerns

The plea relies on a news article, according to which "a Delaware, United States-based investigative financial research firm and short seller, namely Viceroy Research LLC has published a Research Report on 09.07.2025 highlighting commission of fraud, financial manipulations, price rigging, and regulatory violations" by the companies mentioned above. 

The petition further states that the Viceroy in regard to the said financial violations, had disclosed that it made representations to the concerned regulatory bodies, but no proactive steps have been taken by the authorities so far. It stated : 

" Accordingly, the said Viceroy had published articles wherein they have represented and filed complaint before regulatory bodies SEBI and RBI, however, there was no response. The Petitioner thereafter came across a news article in Economic Times of India wherein it was stated that Viceroy is awaiting response from SEBI and has offered to help to assess the veracity of their report dated 09.07.2025." 

The plea has been filed with the assistance of AOR Shyam D Nandan. 

Case Details: SHAKTI BHATIA Versus UNION OF INDIA AND ORS W.P.(C) No. 832/2025