Vedanta loses one more high profile investor

Vedanta loses one more high profile investorProblems seem to be mounting for the Anil Agarwal-led Vedanta Resources as after the Church of England now it's another investor selling his stakes raising concerns over the company's approach to solve human resource problems at the company's site in Lanjigarh, Orissa.

The British investor set to sell his stake in the mining company holds shares worth 2.2 million pounds in the company. Joseph Rowntree Trust, the investor selling its stake in the company, would be the fourth big investor to withdraw its support from the company over the same issue since 2007, source said.

The project has been a pain for the company since it decided to set up its establishments in the particular region. Even the British government itself rebuked the company last year for disrespecting human rights of the local tribe, Dongaria Kandha, found only in that particular area.

Government of Norway was the first one in the list to withdraw its support from Vedanta on the particular human rights issue in 2007. Martin Currie Investments and BP's pension fund were the other two investors who sold their stakes in the company before the Church of England.