Essay on Sebi

6.1. CAIRN-VEDANTA DEAL I n August 2010 Vedanta Resources Plc (“Vedanta”), a company listed on the London Stock Exchange, announced it proposal to purchase 51% controlling stake in Cairn India (“Cairn India”), for a consideration of (reportedly) USD 9.6 billion. Cairn India is a subsidiary of Cairn Energy Plc, a listed entity in the United Kingdom, a leading player in the Indian oil and gas industry. The deal was structured to include a non-compete fee into the price of the shares of the…