New Delhi, June 28 (PTI): The Vedanta-Cairn deal is on the agenda of Thursday’s meeting of the Cabinet Committee on Economic Affairs (CCEA), sources said.

The $9-billion transaction is listed as the second item on agenda of the CCEA. As of now, the CCEA has just two items listed for discussion.

London-listed Vedanta Resources’ bid to pick up a majority stake in Cairn India has been held up for 10 months because of absence of government approval.

Cairn yesterday announced the lowering of the price at which it will sell a 40 per cent stake in Cairn India to Vedanta by over Rs 3,800 crore.

A group of ministers headed by finance minister Pranab Mukherjee had on May 27 recommended that the government nod be given to the transaction only if Cairn or its successor agreed to bear a portion of royalty payable on its mainstay Rajasthan oil fields and also accepted its liability to pay cess on the crude oil produced from the fields.

If imposed, these conditions will materially affect the deal; Cairn and Vedanta by agreeing to lower the sale price appears to be headed towards accepting them.

Cairn Energy will sell its 40 per cent stake in Cairn India to Vedanta at Rs 355 per share instead of Rs 405 a share agreed in August last year. It will now get gross proceeds of Rs 27,007 crore (about $6.02 billion) instead of Rs 30,811 crore ($6.84 billion) it was initially expecting.

Cairn has for the past 10 months denied the need for government approval to what it is called a corporate transaction.