Mumbai, July 9 -- The report described VRL as a "financial zombie" dependent on cash extracted from its Indian subsidiary to service its debt.

Following the report's release, Vedanta shares slipped 3.38% to settle at Rs 440.80, as investors reacted to concerns over the group's alleged financial instability and governance issues.

In a clarification issued today, Vedanta dismissed the claims as a "malicious combination of selective misinformation and baseless allegations," accusing Viceroy of trying to mislead investors and stir panic for profit. The company said the report simply sensationalizes publicly available information and was published without any attempt to seek clarification from Vedanta.

Vedanta further claimed that the timin...