Anil Agarwal

This article is part of the Mining and Metals project of Spinwatch

Anil Agarwal

Anil Agarwal is CEO and 62% shareholder of Vedanta, a London Stock Exchange registered Indian mining company. In 2011 he was the Sunday Times Rich List's 17th Richest man in UK with a net worth of £3.81 billion and a £20 million home in Mayfair . Anil Agarwal has also made large donations to the two biggest political parties in India.

The advisory committee of India’s Supreme Court condemned the process of environmental clearance at Niyamgiri which it said ‘smacks of undue favour/leniency’. A top panel of experts put together by India’s Environment Minister has described the ‘appalling degree of collusion’ of local officials with Vedanta’s ‘total contempt for the law’ while Norway’s Council on Ethics accused the company and it's chairman of ‘corruption, fraud, forgery, manipulation of share prices, and insider trading.’.

History

Anil Agarwal was born in Patna, India and began his industrial career as a scrap metal trader. He founded Vedanta in 1976 as a cable manufacturer and went on to help the Indian government privatise mining and establish India's first copper smelting plant. He floated Vedanta on the London Stock Exchange in 2003 with the help of JP Morgan Cazenove's top dealmaker Ian Hannam. . Agarwal was awarded Ernst and Young Entrepreneur of the Year in 2008

Views

The Guardian quotes Agarwal on his rags to riches need to boost his sense of self worth with a flamboyant lifestyle. He says;

"I have to do things differently. I have to project myself. I have to have a Bentley, the best of chauffeurs and butlers. All these add to the confidence,"