The cabinet committee on economic affairs was to decide on the future of the Cairn-Vedanta deal. However, oil minister Jaipal Reddy has said that the matter has been referred to the group of ministers (GoM) which is headed by the finance minister Pranab Mukherjee.
Sources had told CNBC-TV18 till today morning that the final draft cabinet note that went to the CCA continued to maintain that there were serious irreconcilable differences between the positions held by the oil ministry and the positions held by Cairn and Vedanta. The crucial issues like the issues like royalty being cost recoverable, the issue of CESS and the issue of obtaining a no objection certificate (NOC) from ONGCDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
