The Joseph Rowntree Charitable Trust today said it, along with two other investors, has sold 2.2-million pound worth shares in the mining giant Vedanta Resources citing human rights and environment issues, a motive questioned by NRI billionaire Anil Agarwal-led company.
"The Joseph Rowntree Charitable Trust (JRCT) has sold its 1.9 million pound stake in Vedanta due to serious concerns about its approach to human rights and the environment, particularly in the Indian state of Orissa.
"Other investors which follow the trust's ethical policy, including the Marlborough Ethical Fund and Millfield House Foundation, have also sold their shares, taking the total divested to 2.2 million pound," the England-based trust said in a statement.
When contacted Vedanta Aluminium's COO Mukesh Kumar said: "They invested in Vedanta for commercial interests and they have got good returns now. But, we don't see any human rights and environment issues as the reason. We are complying with all regulatory norms of the state.
"We have complaints from no one other than these three international NGOs. These NGOs are blocking the development of the people in the state, particularly in Kalahandi which is the poorest district in the country. There are about 54 MoUs signed in the state totaling to about $46 billion, I am sure, they are opposing each and every proposed project."
The share sale comes within a fortnight of the Church of England divesting its 3.3 million-pound worth stake in mining giant and human rights watchdog Amnesty International slamming its Orissa operations as human rights and environment hazard.