One of the very hot issues in the current business markets and the corporate world that has batted eyelids of the investors of these companies is the Cairn- Vedanta deal.

The tussle began when ONGC started claiming that it had pre emptive rights over the Rajasthan fields of Cairn.

The ministry of finance has agreed to reassess the request done by ONGC for refunding the royalty that the firm is paying to the government of Rajasthan on Cairn India’s behalf. Cairn is ONGC’s partner in the productive oilfield of Barmer, located in Rajasthan

The British firm Cairn has found substance of oil off the coast of Greenland which could be a possible oil and gas discovery. The Edinburgh based company Cairn is the first firm in the decade to drill oil offshore in the Greenland.

Cairn India may be given additional time by the Indian government so that it can explore more for oil and gas in its oilfield, located in Rajasthan, if the company agrees to pay taxes, proportionate to the stakes hold by the company in the energy asset.