According to the State Bank of India's latest data released on March 14, the Vedanta Group has purchased electoral bonds worth Rs. 400.65 crore for the years 2019-2024 in order to donate to political parties. The mining company has been frequently criticized for its environmental violations across multiple mining, oil, and gas projects in India. Interestingly, during the said tenure, Vedanta owner Anil Agarwal’s founded Sterlite Technologies witnessed mass layoffs and salary cuts of up to 25% for its workforce, and the roles to be affected by the decision include mid to senior-level employees. Last year, Vedanta Group's manufacturing company laid off over 100 employees from non-core functions to reduce operational costs. The subsidiary company also witnessed salary cuts including big roles like Vice Chairman Pravin Agarwal and Managing Director Ankit Agarwal as well. #startuppedia
One question in my mind : The BJP and many parties got bond money. Was money others got is certified as good and pure money and that of BJP as dirty money? Who certified and has SC stamp on it ?
I had a different view, due to electoral bond we atleast have a picture. Before that it was black money which actually was robbing our country. I think of it as an investment and sustaining that 75% of employees, all big firms do donate money for campaign or fund a political party not only in India but in foreign too. It's just that we now have a number/transperancy.
Thats impressive , 400 crores may be good enough for sustaining the team which got fired but choices is what defines a company . That is what makes Tata Group special
Now the real picture of BJP government is coming into limelight!!!!
There are three stories linked with vedanta: 1. they were just flushing money by giving dividend approx 85 rs / equity share in FY 22-23. 2. salary deduction from employee for company poor performances. and 3. 400cr paid to political party as a donation through electoral bond... In spite of all this effort, their project to start manufacturing plant of semi conductor got delayed / canceled midway... Or idhar LinkedIn pe #AnilAgarwal sir bihari hone or litti chokha se unka lagao pe khub ji bhar ke likhte rahe...
Payment through electoral bonds is one of the ways companies get facilitated....
Firstly following wrong practice of granting govt favours in lieu of political contribution from big and not so big industry houses. This is apparent from details now in public domain. Two plus two always adds up to four and nothing else Over and above now we get to read justification why this should not be considered malafide, just because previous regime also resorted to same practice. Arey !!!! this only proves you are no different, if they looted in their times, you too did the same when you got your chance. Then why you beat your drum and show off your 56 inches when you yourself know you are from the same league. Just a thought......
Had to laugh at your stupididty.....2019 - 2024 is a long period, starting @ 2019 everything fine.....we got hit with covid, later recession...last year layoffs....so lay offs last year doesn't mean company knew that in 2019 itself.....
Organized Corruption!!
Head Brand Marketing
7moI think those whose company's turnover more than 500 CR eligible for comment on company's decision on how to spend money, whom to retain and whom to fire.. I once employee turn entrepreneur understands that if employee is really worthy no one can fire them.. if you are a burden to them then ready to face termination even if you are experienced enough.. that's harsh reality.. businesses are for profits not for charity.. Also those who comment on 400 Cr.. good governance required for sustainable business that's why so called industrialist Tata group move their plant from WB to Gujarat.. Commenting on social platforms is easier than running a business.. No offence to anyone..