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Vedanta cites Gita on lost Jaiprakash bid
29 Mar
Summary
- Vedanta chairman quoted Bhagavad Gita after losing bid.
- Vedanta claims highest bid was reversed unfairly.
- Company is challenging the decision in appellate tribunal.
Vedanta Group Chairman Anil Agarwal has drawn upon the Bhagavad Gita to address the group's unsuccessful bid for Jaiprakash Associates. He shared that reading the scripture, particularly Chapter 15, inspired the message: "Have courage. Stay humble. Do your duty without attachment." This philosophy resonated with recent events concerning the insolvency bidding process.
Agarwal recounted that Vedanta had been declared the highest bidder publicly during the auction for Jaiprakash Associates, a company founded by his acquaintance Jaiprakash Gaur. However, the decision was later reversed, leading Vedanta to challenge the approval of Adani Enterprises' bid before the appellate insolvency tribunal. Agarwal expressed that while Vedanta holds no attachment to the asset, promises made in dharma should be honored.
Despite the setback, Agarwal stated that Vedanta would continue to pursue the matter through appropriate legal channels. He concluded on a reflective note, emphasizing that the group would fulfill its duties, leaving the rest to divine will, as guided by the Gita's principles.
