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[@viceroyresearch](/creator/twitter/viceroyresearch)
"Arbor August 2025 CLO Update Arbor continues to severely misreport key metrics across its CLO portfolio including delinquencies total debt and debt servicing costs. Delinquencies hit al time high. Loans to management being modified. $ABR 1/"  
[X Link](https://x.com/viceroyresearch/status/1959969382328680661) [@viceroyresearch](/creator/x/viceroyresearch) 2025-08-25T13:21Z 46.5K followers, 3728 engagements


"Arbor is masking these issues through relentless loan modifications. A staggering $3.2B (84%) of its remaining CLO loans have been modified. Loans are being re-modified in sequential months concealing their true delinquent status. $ABR 4/"  
[X Link](https://x.com/viceroyresearch/status/1959969391996543141) [@viceroyresearch](/creator/x/viceroyresearch) 2025-08-25T13:21Z 46.5K followers, XXX engagements


"Viceroys Arbor September 2025 CLO update is now live. @arbor1 reports a DSCR uptick to 0.68x but this is driven by falling interest expenses not improved performance. NOI declined again. 90+ day delinquencies are quietly moved off-book. Nothing is fixed. $ABR"  
[X Link](https://x.com/viceroyresearch/status/1969024607689515461) [@viceroyresearch](/creator/x/viceroyresearch) 2025-09-19T13:03Z 46.5K followers, 11K engagements


"Net interest spreads have collapsed up to XX% since Dec 2023. $ABR is conceding to delinquent borrowers just to keep them "current." Theres no buyer for these assets at market value. This portfolio is bleeding cash under the guise of continuity"  
[X Link](https://x.com/viceroyresearch/status/1969024614001987834) [@viceroyresearch](/creator/x/viceroyresearch) 2025-09-19T13:03Z 46.5K followers, 3081 engagements


"84% of $ABR's CLO loans have been modified. XX% are still delinquent. With an LTV of XX% and cap rates at XXX% any realistic mark-down in collateral would eviscerate Arbors equity stake. This is structural impairment"  
[X Link](https://x.com/viceroyresearch/status/1969024616552190065) [@viceroyresearch](/creator/x/viceroyresearch) 2025-09-19T13:03Z 46.5K followers, 2587 engagements


"Vedanta - ESL Steel was Bankrupt Before & Will Be Bankrupt Again is now live. Our latest report shows how @vedanta_groups steel asset @ESLSteelLimited is bleeding cash and dragging $VRL & $VEDL deeper into trouble. 1/6"  
[X Link](https://x.com/viceroyresearch/status/1971424796446708169) [@viceroyresearch](/creator/x/viceroyresearch) 2025-09-26T04:01Z 46.5K followers, 14.7K engagements


"$VEDL's corporate amnesia strikes again at least they have a Golden Peacock to polish while demerger gets pushed back again. Days ago @vedanta_group was hyping the demerger as priority to be completed within FY26. Today Engineered delays & no disclosuretoinvestors"  
[X Link](https://x.com/viceroyresearch/status/1976162623931511107) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-09T05:47Z 46.5K followers, 10.3K engagements


"Report link $VEDL 2/"  
[X Link](https://x.com/viceroyresearch/status/1977965234280423728) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-14T05:10Z 46.5K followers, XXX engagements


"Ind AS XXX Violation: Talwandi Sabo Power has made no meaningful provision for 1100 crore in disputed trade receivables that are over three years old. It continues to recognize revenue when collection is clearly not probable. $VEDL 12/"  
[X Link](https://x.com/viceroyresearch/status/1977965281159893166) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-14T05:10Z 46.5K followers, 2711 engagements


"Ind AS XXX Violation: Vedanta Semiconductors reported XXX crore in 'trading revenue' with no inventory no logistics costs and a X% margin. This is fabricated turnover used to justify and disguise financing flows. $VEDL 13/end"  
[X Link](https://x.com/viceroyresearch/status/1977965287191224681) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-14T05:10Z 46.5K followers, 2614 engagements


"Congrats $VEDL on CCI approval for the Jaiprakash deal. Nothing says value creation like doubling down on distressed assets after our analysis shows its a disaster. In true @vedanta_group style analysts didn't even run the numbers as it was too outlandish. #WhiteElephantAward"  
[X Link](https://x.com/viceroyresearch/status/1978081780759506975) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-14T12:53Z 46.5K followers, 6886 engagements


"Full report: Of @vedanta_groups alleged XX blocks in India the GoI claims most have been either de-allocated or are in the process of being taken back. Undisclosed by both $VEDL and $VRL despite Jan and Sept bond issuances. 2/5"  
[X Link](https://x.com/viceroyresearch/status/1978309859742249167) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-15T04:00Z 46.5K followers, XXX engagements


"GoI alleges illegal pledging of PSC-governed assets undisclosed arbitration liabilities of $222m $1162m and illegal oil extraction after lease expiry and explicit stop orders. Again none of this was disclosed to investors. $VEDL $VRL 3/5"  
[X Link](https://x.com/viceroyresearch/status/1978309863391330676) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-15T04:00Z 46.5K followers, XXX engagements


"$GL - Globe Life couldnt shake the shareholder lawsuit. Court says investors adequately alleged securities fraud claims. Rampant Fraud & Deceitwho couldve guessed One to watch. @viceroyresearch"  
[X Link](https://x.com/viceroyresearch/status/1973065077705048342) [@viceroyresearch](/creator/x/viceroyresearch) 2025-09-30T16:39Z 46.5K followers, 6651 engagements


"#Vedanta came to court so their counsel could take a nap while seeking an order against GOI. $VEDL got called out for misrepresentations & suppression of facts & unclean hands. If thats how seriously @Vedanta_Group takes business imagine what else is there"  
[X Link](https://x.com/viceroyresearch/status/1976674615020970094) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-10T15:42Z 46.5K followers, 4490 engagements


"Vedanta MoPNG Rejection Analysis is now live. Our full report with GoI's NCLT filing and Cambay lease rejection attached shows @vedanta_groups made material misstatements ad hid liabilities in its O&G business. $VEDL $VRL 1/5"  
[X Link](https://x.com/viceroyresearch/status/1978309855396954434) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-15T03:59Z 46.5K followers, 4720 engagements


"Vedanta Limited Resources Viceroy is short of Vedanta Resources (PropCo) the heavily indebted parent & majority owner of Vedanta Limited (NSE : VEDL). The group structure is financially unsustainable operationally compromised & resembles a Ponzi scheme. $VEDL 1/"  
[X Link](https://x.com/viceroyresearch/status/1942833615311654944) [@viceroyresearch](/creator/x/viceroyresearch) 2025-07-09T06:30Z 46.5K followers, 143.5K engagements


"Our Vedanta bondholder update is now live. Failed fundraising efforts and wave of legal action show @vedanta_group no longer operates with State backing. Bondholders should reprice regulatory support and remittance assumptions. $VRL $VEDL 1/5"  
[X Link](https://x.com/viceroyresearch/status/1975773316800782458) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-08T04:00Z 46.5K followers, 9468 engagements


"Link: @vedanta_group failed to raise $1bn to repay its $550m private credit facility despite claiming in June it was already covered. The $500m raised falls short of near term needs including a $204m KCM commitment by year end. $VRL $VEDL 2/5"  
[X Link](https://x.com/viceroyresearch/status/1975773321292878022) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-08T04:00Z 46.5K followers, 2100 engagements


"Vedanta Auditors Turn a Blind Eye to The Facts We detail material breaches of Indian Accounting Standards across the Vedanta Group where auditors have been complicit in signing off on misleading financials. $VEDL 1/"  
[X Link](https://x.com/viceroyresearch/status/1977965227422482503) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-14T05:10Z 46.5K followers, 7466 engagements


"H1 2026 $HZL Earnings Update - Just in time for the earnings call. Amidst its demonstration that it cannot convert earnings to cash: Hindustan Zinc confirms it is also under investigation by Indian Regulators. $VEDL"  
[X Link](https://x.com/viceroyresearch/status/1979134116613267798) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-17T10:35Z 46.5K followers, 6630 engagements


"At least another X months to run on TSPL demerger process. XX days to seek creditor approval + XX days for TSPL to approach NCLT for sanction. @Vedanta_Group knew the September demerger timeline was fake when it hid SEPCO liabilities. $VRL $VEDL"  
[X Link](https://x.com/viceroyresearch/status/1979481769549201884) [@viceroyresearch](/creator/x/viceroyresearch) 2025-10-18T09:36Z 46.5K followers, 6314 engagements