Vedanta Resources HQ at 30 Berkeley Square is Vacant, Alleges Viceroy Research
Moneylife Digital Team 31 October 2025
Global mining group Vedanta Resources Ltd (VRL) is under fresh scrutiny following explosive claims by investigative financial research firm Viceroy Research, which says the company’s London headquarters – listed at 30 Berkeley Square – has been vacated since January 2025 and that its actual operations are based in India while cash flows move to the UK. Viceroy’s posts on X (formerly Twitter) assert that VRL is listing a 'wrong address' on filings, issuing billion-dollar bonds out of a residential property and executing large 'brand fees' payments from its Indian units to a company run from the home of chairman Anil Agarwal on Hill Street.
 
According to Viceroy, the address at 30 Berkeley Square still appears in VRL’s bond prospectuses and corporate filings, but a visit by the short-seller’s correspondent found the space empty, with reception stating the company vacated in January. The allegations also highlight that VRL’s London personnel largely consist of interns or personal assistants rather than senior officers, raising concerns over governance and oversight.
 
The research firm specifically points to 'brand fees' totalling US$400mn (million) to US$450mnbeing paid from Indian subsidiaries to the UK-based entity, despite minimal staff or operations being present there. Viceroy questions the substance of what these fees represent and raises red flags over basic KYC/AML (know-your-customer/anti-money laundering) standards in VRL’s structure.
 
Vedanta Resources and the broader Vedanta group have previously faced allegations from Viceroy of hidden debt, inflated asset values and an 'unsustainable' business model. The company has rejected such reports as 'malicious combinations of selective misinformation and baseless allegations'. Recent market reactions saw Vedanta’s shares slide after Viceroy’s earlier disclosures. 
 
At this stage, VRL has not publicly responded to the specific address and payments claim made by Viceroy via social media. Given the serious nature of the allegations, bond-holders and investors will be watching closely for regulatory action or clarifications. The case underscores growing concerns over offshore parent-subsidiary structures, cross-border cash flows and the transparency of corporate headquarters locations in global conglomerates.
 
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