SC upholds $ 8.5 billion Cairn-Vedanta deal

May 09, 2013 19:35

The Supreme Court today upheld the US$ 8.5 billion Cairn-Vedanta deal, saying that the Centre and ONGC not exercising the right of pre-emption over sale of shares of Cairn India Limited was a prudent commercial decision.

The court said that the decision on not buying the shares of CIL was taken by the Centre and ONGC after considering various commercial and technical aspects and it cannot sit in judgement over the commercial or business decision taken by parties.

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