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Hindustan Zinc chief financial officer Swayam Saurabh released from services

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The company had earlier announced his resignation

Swayam Saurabh.


Vedanta Group firm Hindustan Zinc on Tuesday said its chief financial officer (CFO) Swayam Saurabh has been released from the services of the firm, just a month-and-half after the resignation of G.R. Arun Kumar as  CFO of Vedanta Ltd.  

Saurabh has been released from the close of working hours on Monday, Hindustan Zinc said in a filing on the  Bombay Stock Exchange.

“Swayam Saurabh chief financial officer of the company stood released from the services of the company from the close of working hours on April 5, 2021,” the filing said.

The company had earlier announced the resignation of Saurabh.

Hindustan Zinc’s fully integrated zinc operations  hold 78 per cent share in India’s primary zinc industry. 

The company says it is the sixth largest silver producer globally.

It is a subsidiary of Vedanta Ltd which owns a 64.9 per cent stake, while the Centre retains a 29.5 per cent stake. 

Another Vedanta group company, Cairn Oil and Gas, is facing a huge claim from the government of India for the share of the government’s profits from the Rajasthan oil and gas block whose licence was expanded beyond the initial period.

The claims could run to millions of dollars, sources said.

The Delhi high court has upheld the government policy of higher share of profit if an oilfield gets and extension.

Vedanta in October failed in its delisting process as it received only 125.47 crore shares much less than the required amount. 

In another blow, the Supreme Court has rejected Vedanta’s plea to inspect and operate the closed Sterlite plant at Tuticorin.



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