Oil Minister Jaipal Reddy today said the $9.6 billion Cairn-Vedanta deal is likely to go to the Cabinet for approval in two-three weeks time.
"We cannot bailout any seller or buyer. We will not compromise on concerns of ONGC," he told reporters here.
Reddy said his ministry supported State-owned Oil and Natural Gas Corporation's claim that royalty should be treated as cost recoverable item in Cairn India's mainstay Rajasthan block.
"We are trying to expedite the process. I think it may go to the Cabinet in two-three weeks," the minister said.
