<p>India's federal government has opposed Hindustan Zinc's proposed $2.98 billion (Rs 24,649 crore) acquisition of zinc assets from Vedanta Ltd, a letter from the government to the company showed on Monday.</p>.<p>Directors nominated by the government at Hindustan Zinc had dissented to the proposed deal announced on January 19, the letter showed.</p>.<p>The government holds a near 30 per cent stake in Hindustan Zinc, while Vedanta is the company's largest shareholder.</p>.<p>According to the letter, the government reiterated dissent to the "related party transaction". "We would urge the company to explore other cashless methods of acquisition of these assets."</p>.<p>The government will oppose any further resolutions on the deal and explore all legal avenues available to it, it added.</p>.<p>Hindustan Zinc and Vedanta did not immediately respond to <em>Reuters </em>requests for comment.</p>.<p><em>($1 = Rs 82.72)</em></p>
<p>India's federal government has opposed Hindustan Zinc's proposed $2.98 billion (Rs 24,649 crore) acquisition of zinc assets from Vedanta Ltd, a letter from the government to the company showed on Monday.</p>.<p>Directors nominated by the government at Hindustan Zinc had dissented to the proposed deal announced on January 19, the letter showed.</p>.<p>The government holds a near 30 per cent stake in Hindustan Zinc, while Vedanta is the company's largest shareholder.</p>.<p>According to the letter, the government reiterated dissent to the "related party transaction". "We would urge the company to explore other cashless methods of acquisition of these assets."</p>.<p>The government will oppose any further resolutions on the deal and explore all legal avenues available to it, it added.</p>.<p>Hindustan Zinc and Vedanta did not immediately respond to <em>Reuters </em>requests for comment.</p>.<p><em>($1 = Rs 82.72)</em></p>