India To Review AgustaWestland VVIP Deal

  • Our Bureau
  • 02:12 PM, June 3, 2014
  • 2822
India To Review AgustaWestland VVIP Deal
India To Review AgustaWestland VVIP Deal

India’s new Defence Minister Arun Jaitley will review the AgustaWestland chopper deal, according to local media reports.

The Directorate General of Acquisition will present a detailed briefing before the Defence Minister on the case where 12 AW-101 VVIP choppers were being procured for the IAF, Defence Ministry officials said Monday. 

The briefing, which is likely to take place this week, will also include details about the ongoing arbitration and investigations going on in both India and Italy in the case, they said. 

The ministry will also provide details of the measures taken by the ministry to recover the bank guarantees and the stand taken by it during the future legal proceedings in Italian courts, according to the Press Trust of India.

Recently the Court of Milan partially upheld the complaint lodged by the Indian Ministry of Defence, and thereby revoked the order issued by the judge on last March 17.

 

The order pertains to the seeking of emergency interim lodged by AgustaWestland to resist the calling of certain first demand bank guarantees provided with reference to the contract for the supply of 12 helicopters AW 101 VVIP/VIP for an amount of EUR 228 million maximum against a call seeking to cash EUR 278 million, Finmeccanica said in a statement.



India’s decision to blacklist AgustaWestland is set to be delayed as the country’s Solicitor General Mohan Parasaran advised against any immediate steps.

 

"The Law officer has asked us to wait before going ahead with the blacklisting of the Anglo-Italian firm. We have now referred the issue to CBI, which is carrying out legal proceedings against the firm in India," according one official.

 

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