Pitfalls and Pipelines - Philippine Indigenous Peoples Links

Chapter 2.3: International Advocacy with Companies and Their Investors
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49
International Federation for Human Rights (FIDH), 2012,
”Corporate Accountability and Human Rights Abuses - A Guide for
Victims and NGOs on Recourse Mechanisms.” pp. 407-465 - http://
www.fidh.org/Updated-version-Corporate.
50
The catalogue of alleged fraudulent activities, committed by Anil
Agarwal’s company Sterlite Industries India, until it was incorporated
into Vedanta plc in late 2003, is summarized at: Mines and
Communities, 2004, “Vedanta - the panto! A London Calling special.”
10 January, http://www.minesandcommunities.org/article.php?a=70;
Anil Agarwal is in breach of various corporate guidelines as the Chair
and the CEO of Vedanta. The Agarwal family, through their Volcan
Trust, hold according to the last company annual report just over
62% of the voting share capital of the company; http://www.vedantaresources.com/the%20board.aspx.
51
Mines and Communities, 2011, “Mines Bigger than Yours! Forbes’
rankings surprise.” 5 May, http://www.minesandcommunities.org/
article.php?a=10891.
52
On 25 May 2011, the US Securities and Exchange Commission (SEC)
‘proposed a rule to deny certain securities offerings from qualifying for
exemption from registration if they involve certain “felons and other
bad actors”: http://www.sec.gov/news/press/2011/2011-115.htm. As of
December 2011, the SEC had still not implemented this provision of
the Dodd-Frank Act – a supposed deadline of July 2011 for implementation
having passed without it being fulfilled.
53
Norwegian Council of Ethics Recommendation to the Ministry
of Finance, 15 May 2007, http://www.regjeringen.no/Upload/FIN/
Statens%20pensjonsfond/RecommendationVedanta.pdf; Mines and
Communities, 2007, “Norwegian government indicts Vedanta as
grossly unethical.” 12 November, http://www.minesandcommunities.
org/article.php?a=8260.
54
Personal communication from Norwegian Council of Ethics, August
2010.
55
Mines and Communities, 2007, “Court between the devil and the
deep blue sea.” 15 November; In a quixotic decision, the Indian
Supreme Court promptly endorsed handing control of the mine
project to Vedanta’s Indian-registered subsidiary, Sterlite Industries,
and the state-owned Orissa Mining Corporation, provided certain
conditions were met.
56
Mines and Communities, 2004, “Niyam Raja: Tribal Villages
Bulldozed as the Shadow of Vedanta Looms over One of the Most
Sacred Mountains in Orissa.” 9 February, http://www.minesandcommunities.org/article.php?a=7777.