Cairn India-Vedanta deal: Cairn Energy still on sidelines

Cairn Energy Plc has told CNBC-TV18 there is no change in its stance to fight India's draft assessment of USD 1.6 billion and confirmed it is still banned from selling shares in Cairn India.

Cairn Energy said it will engage with the Indian govt to resolve this as per the articles of dispute invoked under the UK-India treaty.

The UK-based company's approval is crucial for the Vedanta-Cairn India merger going through. It holds 9.8 percent stake in Cairn India and constitutes 25 percent of the minority shareholder vote.

On that subject, it told CNBC-TV18: "We note the announcement from Vedanta and will assess whether the proposal is in the interest of Cairn Energy Plc as a shareholder in Cairn India in due course."