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Cairn Energy, which had on August 16 announced the sale of its 40- 51 per cent stake in the Indian unit to Vedanta, has so far held that the $ 8.8- billion deal does not trigger ONGC's pre- emption rights.
The MMC report suggested that the original Bass shares should be rebundled and passed on to the new buyer, but having been disposed of under pre- emption rights, there are doubts whether legally this is possible.
Contract notice: Transportation contract for 18 kv 70-72 mva and 72.5 kv sE[micro]ntfojtEtekercsek neutral circuit limiting reactors supply, stipulating emption.
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