NEW DELHI (Reuters) - India will make a decision whether to allow U.K. Explorer Cairn Energy plan to sell the majority stake in his local unit to Vedanta Resources, said the Minister of oil, further delay a nod key by one month March.
"We must proceed with caution". There are too many complications. We will decide at the end of this fiscal year, "Murli Deora told reporters on Monday."
Exercise of the India extends from April to March.
Cairn Energy has agreed to sell a 40 to 51% stake in its Indian arm India Cairn Vedanta case value up to $ 9.6 billion in August.
S. Sundareshan, top bureaucrat in the India oil Ministry said last month that the Government will make its decision before the end of February.
Cairn Energy has applied to the Ministry of petroleum for the transfer of majority issues India cairn in 10 block oil and gas to Vedanta.
(Reported by Nigam Prusty; Malini Menon-mounting)
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