Vedanta group firm Hindustan Zinc Ltd (HZL) plans to dole out a special dividend payout of Rs 8,000 crore to its shareholders in the current fiscal, according to sources.
KhaitanCo advised Hindustan Zinc on a capital reorganisation scheme, transferring general reserves balances to retained earnings through an arrangement with its stakeholders.
The core team included Mehul Shah, Aman Yagnik, Rushabh Gala and Dhruvi Dharia, with assistance from Prateek Kumar and Raveena Rai (Dispute Resolution).
Hindustan Zinc’s scheme to transfer ₹10,383 crore from general reserve to retained earnings has been approved by the National Company Law Tribunal. This will allow Vedanta to upstream dividend from Hindustan Zinc to repay debt at the holding company level, with over ₹6,500 crore potentially being transferred to Vedanta Limited.
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