Cairn-Vedanta deal gets Home Ministry approval

December 05, 2011 17:04

The Home Ministry has given its approval to London-listed miner Vedanta Resources' buying majority stake in Cairn India for USD 8.7 billion. The Home Ministry, while giving the security no-objection certificate, highlighted eight areas of concern, including 64 legal proceedings against Vedanta and its subsidiaries in various courts, sources privy to the development said.

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