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SC notice to government on plea against Cairn-Vedanta deal

Delhi,Business/Economy,Immigration/Law/Rights, Mon, 23 Apr 2012 IANS

New Delhi, April 23 (IANS) The Supreme Court Monday issued notice on a plea urging that the acquisition of Cairn India, which holds the nation's biggest onshore oil block, by Anil Agarwal-promoted Vedanta Resources be declared invalid.


The notice was issued to the government, the Cairn and Vedanta companies and the Oil and Natural Gas Corporation.


The public suit filed by Arun Kumar Agrawal, a financial expert, sought invalidation of government approval for the Cairn Energy-Vedanta deal under which Vedanta acquired 41 the percent stake of Cairn India in the Rajasthan oil block.


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