Mumbai, July 30 -- Vedanta Resources, the London-based parent of Vedanta Ltd, refunded a part of the brand fee paid by its India-listed subsidiary in FY24 amid scrutiny from the Directorate of Enforcement, which at the time was investigating the company's brand fee payments, US-based short-seller Viceroy Research alleged on Wednesday.

Vedanta Resources refunded Rs.1,030 crore ($123 million) to Vedanta Ltd in 2023 without intimating its auditors, the short-seller alleged. The transaction can be seen in the FY24 annual report of the company.

The short-seller did not clarify which legal provisions, if any, were violated by Vedanta. However, the ED investigation into the company was still ongoing, the short-seller said, citing unnamed forme...