New Delhi, Aug. 20 -- Vedanta share price declined on Wednesday following a media report of multiple setbacks to the company's demerger plan. Vedanta shares fell as much as 2.56% to Rs.438.55 apiece on the BSE.

According to a report by business news channel CNBC TV-18, the National Company Law Tribunal (NCLT) has deferred hearing on the group's proposed demerger to September 17, after the central government raised "serious objections."

The government argued that the scheme involved concealment of key details, inflated revenues and concealed liabilities, which could impair the recovery of dues, CNBC-TV18 reported.

In parallel, the Securities and Exchange Board of India (SEBI) has flagged Vedanta for modifying its demerger scheme after r...