BENGALURU, July 7 (Reuters) - India's metals-to-oil conglomerate Vedanta Ltd (VDAN.NS) said on Friday that it would take over from its holding company the ownership of a joint venture with Taiwan's Foxconn that was set up to make semiconductors.
Vedanta also said it would also take over a display glass manufacturing venture from Volcan Investments, Vedanta's holding company.
Moreover, Vedanta's disclosures last year related to the deal made it seem like it was running the project.
It later clarified that Volcan Investments would take the helm.
Still, India's marker regulator, after an investigating, penalised Vedanta last week, saying it had broken regulations by initially making it appear it had partnered with Foxconn.
Persons:
Taiwan's, Vedanta, Ashish Chandra, Savio D'Souza
Organizations:
Vedanta, Volcan Investments, TW, Reuters, Foxconn, Thomson
Locations:
BENGALURU, Volcan, Foxconn, Gujarat, India, Bengaluru