The oil PSUs (public sector undertakings) won't be making a counter bid to Vedanta Resources' proposal of $9.6 billion; to buy Cairn India, because the Petroleum and Natural Gas Ministry has disinclined to a rival bid. He ground for this is that the price at which Vedanta is acquiring Cairn India is already very high.

This contradiction to initial reports probably started after Vedanta Resources Chairman Anil Agarwal had a talk with Petroleum Minister Murli Deora at least twice this week.

Even the Prime Minister's Office may have discussed the issue. The Ministry is now waiting for clarifications from U. K.'s Cairn Energy regarding the sale of its majority stake in Cairn India.

Meanwhile, the ONGC board, 30 percent partner to Cairn India in the prolific Rajasthan oilfields, main subject of Cairn Energy's Vedanta deal, will be summarized regarding the possible scenarios.

A Sesa Goa shareholder went to Supreme Court saying that the company was alleged for serious frauds and should be prevented from participating in Cairn India's takeover by the Vedanta group.