Micromax and Cyanogen partnership was the reason behind break up of OnePlus One and Cyanogen, since then the Indian users are still not clear how will they be receiving the update. Now the picture is very clear and one can easily run Cyanogenmod 12 with Android Lollipop 5.0 coming soon in few days.
Cyanogen replied to a user via official twitter account that the Cyanogenmod 12 update possibly will be rolled out to OnePlus One through OTA and in worst case scenario users can download update from internet and flash it using recovery which is not that difficult. So it now affirms that all Indian users can breath a sign of relief.
Moreover OnePlus is readying own ROM based on Android Lollipop 5.0 named Oxygen OS, which will also be an option and users can get their devices updated manually or via service centers and flashing zones.