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Cairn India says merger with parent Vedanta is on track

Last Updated: Tuesday, July 21, 2015, 15:03

Shareholders in Cairn India, the country`s largest private sector crude oil producer, are to get one share in mining giant Vedanta and one redeemable preference share under a $2.3 billion deal to buy out minorities announced in June.

Toshiba CEO to step down over accounting scandal

Last Updated: Tuesday, July 21, 2015, 12:41

CEO and President Hisao Tanaka will be replaced by Chairman Masashi Muromachi effective Wednesday, the company said in a statement, adding it was considering appointing outside directors to over half of its board seats.