Vedanta’s contract with Scottish firm, Cairn Energy, to take a controlling stake in India’s most promising new oil field, still isn’t a “done deal”. But the acquisition has now moved one step closer to completion with backing from the Oil ministry – despite¬† failures to address¬† the Home Affairs ministry’s misgivings about Vedanta’s highly dubious human rights, environmental and governance record. Just as this particular “coup” looks like being ratified by the central government, the company’s principal subsidiary, Sterlite Industries, is proposing to purchase what it doesn’t yet own of BALCO. BALCO is Vedanta’s principal integrated aluminium subsidiary, notorious for its appalling record in safeguarding workers’ health and safety.
See http://www.minesandcommunities.org/article.php?a=11428&l=1.