Chronicle of a deal on hold
There are no guesses on how many times the group of ministers will meet before any clarity emerges on the $9.6-billion deal. More than eight months ago, India’s oil and gas sector saw the signing of its biggest acquisition deal. That was when on August 16, 2010, Anil Agarwal-controlled Vedanta Resources entered into an arrangement with the Edinburgh-based Cairn Energy to acquire a controlling stake in Cairn India, the latter’s Indian company that along with ONGC operates the country’s biggest onland oilfield in Barmer district of Rajasthan.
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