India in June granted conditional approval for Vedanta Resources to purchase a stake in Cairn India inside a $6 billion deal that was initially announced in August 2010.
Cairn India happens to be seeking approval from its shareholders about the conditions imposed by the Indian native government via postal ballot.
"Cairn Energy has put down a timetable for shareholder authorization by September 14, " a source near to the company told Reuters on Thursday.
Analysts expect Cairn India investors to approve the conditions, following which Cairn and Vedanta can complete the deal. Cairn originally predicted how the sale of its stakes to Vedanta will be finalised by the end associated with 2010.
The mid-September timetable for shareholder approval is consistent with what Vedanta officials indicated in late July once they said they expected the deal to accomplish within six weeks to 8 weeks.
The parties had agreed to fulfill India's conditions by the finish of August, including an undertaking from Cairn India it and state-controlled ONGC would share the responsibility of royalty payments that are only paid by ONGC.
"Cairn Energy is trying to satisfy the conditions set through the government of India to the actual agreed timetable, " said the spokesman for Cairn Energy.
Vedanta rejected to comment.