Cairn India says merger with parent Vedanta is on track

Brushes off reports that some minority shareholders wanted a higher price

Cairn India Chief Executive Mayank Ashar said on Tuesday the firm's proposed merger with parent Vedanta Ltd was "on track", brushing off reported demands from some minority shareholders for a higher price.

Shareholders in Cairn India, the country's largest private sector crude oil producer, are to get one share in mining giant Vedanta and one redeemable preference share under a $2.3 billion deal to buy out minorities announced in June.