If not for the government’s opposition, flagship explorer ONGC would have bought the prolific oilfields in Rajasthan’s Barmer district in 2004 for just $2.4 billion from Cairn India, which is now being taken over by NRI metals tycoon Anil Agarwal’s London-listed Vedanta for nearly $10 billion.
ONGC will not allow history to repeat itself and is willing to go for a pre-emptive strike to claim the stake in the field being sold to Vedanta.
See http://timesofindia.indiatimes.com/business/india-business/ONGC-may-stall-Cairn-Vedanta-deal/articleshow/6850016.cms.