MUMBAI: Vedanta and Cairn India have sweetened the deal for shareholders to make way for the merger of the latter with the parent company which has faced delays due to key shareholders expressing concerns over the valuations. With the offer now revised, the companies are confident of completing the merger before March 2017. "We don't expect the tax issue to have any impact on the timeline for the merger. The department has said that the merger cannot take place unless this is resolved. Albanese also said the merger is "independent" of the dispute between tax department and Cairn India.The tax department has frozen 9.5% stake of Cairn Energy in Cairn India in a dispute over the capital gains made on the stake sale by the former.

Source: Economic Times July 22, 2016 11:54 UTC