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Friday 24 June 2011

ONGC likely to file papers for FPO after Govt. decision on Cairn Vedanta

State-owned Oil and Natural Gas Corp is probably going to file papers for a Rs 11,500 crore share sale when the govt. offers its verdict on its dispute with Cairn India .ONGC is in dispute with Cairn India over royalty payments on the later's showpiece Rajasthan oilfields and also the government is anticipated to relinquish its verdict when cupboard decides on UK's Cairn Energy selling stake in its Indian unit to London-listed mining cluster Vedanta Resources.

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