Reuters reported that Oil & Natural Gas Corp expects to get about INR 1,900 crore on account of royalty recovery from Cairn India's Rajasthan blocks.

Mr Sudhir Vasudeva chairman of ONGC told reporters "The total recovery will be about INR 2,500 crores. After tax, it should be about INR 1,900 crores adding this would be accounted for in the December quarter.

ONGC, which holds a 30% stake in the Cairn operated oil and gas fields in western India, gave its nod for London based miner Vedanta Resources' deal to buy a majority stake in Cairn India, subject to royalty payments being shared between the two partners.
(Sourced from Reuters)