How to contact Anil Agarwal? Anil Agarwal Contact Address, Email ID, Website, Phone Number
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Anil Agarwal was born on 24th January 1954. He is the founder and Chairman of Vedanta Resources Limited. He manages Vedanta Capital through Volcan Investments, a holding company with a 100% stake in the business.
Anil Agarwal Biography:
Agarwal was born in a Marwari Agrawal Family and was brought up in Patna, India. His father Dwarka Prasad Agarwal had a small aluminum conductor business. He studied at Miller High School, Patna, and decided to join his father’s business, making aluminum conductors, instead of going to university. At 19, he left Patna for Mumbai to explore career opportunities.
In the mid-1970s, he started dealing in scrap metal, collecting it from cable companies in other states, and selling it in Mumbai. In 1976, Anil Agarwal obtained, among other items, a bank loan from Shamsher Sterling Company, a manufacturer of enameled copper. He ran both companies for the next 10 years. In 1986, he set up a jelly-filled cable manufacturing plant to establish Sterlite Industries. He soon discovered that the profitability of his company was uncertain, fluctuating with the prices of his raw materials: copper and aluminum. So he decided to manage his production costs by selling metals instead of purchasing them.
In 1993, Sterlite Industries became the first private-sector company to set up a copper smelter and refinery in India. In 1995, Sterlite Industries purchased Madras Aluminum, a ‘sick’ enterprise that had been shut down for four years and retained by the Board for Industrial and Financial Restoration (BIFR). The next step in the backward integration process seemed natural: mining.
His first chance came when the government launched a disinvestment policy. In 2001, 51% of Bharat Aluminum Company (BALCO), a public sector undertaking, acquired a majority stake (nearly 65%) in the state-owned HZL (Hindustan Zinc Limited) in the next year. Both companies were known to be sleepy and inefficient mining firms.
In 2003, Anil Agarwal and his team founded Vedanta Resources Plc in London to enter foreign capital markets. At the time of its launch, Vedanta Resources Plc was the first Indian company to be listed on the London Stock Exchange on 10 December 2003, and Vedanta Resources became the parent company of the group through a process of internal consolidation of the group companies and their shareholding.
In 2004, Vedanta Resources Plc announced its global bond offering and acquired Konkola Copper Mines in Zambia, Africa. In 2007, Vedanta Resources acquired a majority interest in Sesa Goa Limited, India’s largest producer-exporter of iron ore, and in 2010, the company purchased the South African miner Anglo American portfolio of zinc properties in Namibia, Ireland, and South Africa. Next year, Vedanta Resources acquired a majority stake in Cairn India, India’s largest private oil-producing company. The merger of Sesa Goa and Sterlite Industries was announced in 2012 as part of the restructuring of the Vedanta Company.
Vedanta Resources, headquartered in London, is a globally diversified natural resources conglomerate, with interests in zinc, lead, silver, copper, iron ore, aluminum, power generation, and oil and gas. The largest share of its properties, however, is in India; Agarwal lives in London.
In October 2017, it was reported that Agrawal’s Volcan Holdings Plc had acquired a 19 percent interest in Anglo American mining firm, making it the company’s largest shareholder.
According to The Sunday Times Rich List in 2020 his net worth was estimated at £8.5 million.
Controversy and criticism:
In 2004, a committee of the Indian Supreme Court alleged that Vedanta had dumped thousands of tons of arsenic-bearing slag near its factory in the Indian state of Tamil Nadu, resulting in the significant environmental and surrounding population. In 2005, another committee of the Indian Supreme Court ruled that Vedanta had driven more than one hundred indigenous families from their homes in the Indian state of Odisha, where it tried to mine bauxite. According to the report of the Committee: “The environment of fear was generated by the hired goons” and the residents were “beaten by the employees of M / s Vedanta.”
The acts of Vedanta in Odisha were rebuked by the British Trade Office, and the investment funds of the Church of England sold their shares in the company in protest. In Zambia, Vedanta dumped hazardous waste from its copper mine in the Kafue River, according to a lawsuit filed by 2,000 people, resulting in widespread human illness and death of fish. A local judge said, “There was a breach of corporate accountability and criminal liability and a sign of corporate negligence.” In 2014, Zambian officials started an investigation on suspicion that Vedanta had not charged its proper fees to the government. In addition, “hundreds of unemployed miners are grappling with Vedanta’s compensation for severance pay or disability pay.”
In March and April 2018, there were renewed mass-protests against the company’s plans of setting up a second smelting complex and to demand a shutdown of its Thoothukudi (Tuticorin) smelting plants, on grounds of violating environmental regulations. On 22 May 2018, the protests took a deadlier turn as 13 people were killed and several others injured, following a police shooting. Section 144 was imposed to control the situation.
In 1992, Anil Agarwal set up the Vedanta Foundation as a platform through which the group companies will carry out their philanthropy programs and activities. In the financial year 2013–14, the Vedanta group companies and the Vedanta foundation invested US$49.0 million in building hospitals, schools, and infrastructure, conserving the environment and funding community programs that improve health, education, and livelihood of over 4.1 million people. The initiatives were undertaken in partnership with the government and non-governmental organizations (NGOs). Among his inspirations are Andrew Carnegie and David Rockefeller, who created public works with their fortunes, and Bill Gates. The activities funded by his philanthropy are focused on child welfare, women empowerment, and education.
Anil Agarwal was ranked second in the 2014 Hurun India Philanthropy List for his personal donation of Rs. 1,796 crore (about $36 million). With a personal wealth of 12,316cr, he was ranked 25th in the Hurun India Rich List.
In 2015, the Vedanta Party, in collaboration with the Ministry of Women and Child Development, inaugurated the first “Nand Ghar” or modern Anganwadi, of the 4,000 expected to be set up. Agarwal has pledged to donate 75% of his family’s wealth to charity, saying he was inspired by Bill Gates.
Honors and awards:
1. The Economic Times, Business Leader Award – 2012
2. Mining Journal Lifetime Achievement Award – 2009
3. The Ernst & Young Entrepreneur of the Year – 2008
4. The Asian Awards Entrepreneur of the Year – 2016
5. The One Globe Forum (OGF) award for creating a strong social impact for the communities the group operates in, and for initiatives such as Nand Ghar – 2018
6. Dr.Thomas Cangan Leadership Award– 2013, Faculty of Management Studies – Institute of Rural Management, Jaipur (FMS-IRM)
Vedanta was stripped of international safety awards after it was found that it had not announced its involvement to be one of the worst industrial accidents in India’s history.
(1)Full Name: Anil Agarwal
(2)Born: 24th January 1954, Patna, Bihar, India
(3)Father: Dwarka Prasad Agarwal
(4)Mother: Not Known
(5)Brother: Navin Agarwal
(6)Sister: Priya Agarwal
(7)Spouse: Kiran Agarwal
Son: Agnivesh Agarwal
Daughter: Priya Agarwal
(9)Occupation: Entrepreneur, Businessperson
(10)Position: Founder, Executive Chairman Vedanta Resources
(11)Works For: Vedanta Resources Corporation
(12)Birth Sign: Aquarius
1. Malaviya Regional Engineering College
2. Sir Ganesh Dutt Patliputra High School, Bihar
(17)Address: K.F.91, Kavi Nagar, Ghaziabad, U.P. Pin-201002
(18)Contact Number: 9910483700
(19)Email ID: firstname.lastname@example.org