In connection with the judicial proceedings regarding the supply of 12 AW101 VVIP helicopters to the Indian Government, Finmeccanica today said that the judge for pre-trial investigations has decided today to grant the request for monetary measures made by the two Finmeccanica-owned companies AgustaWestland SpA and AgustaWestland Ltd, jointly with the Public Prosecutor.
The judge has, in accordance with the said requests, decided to endorse the imposition of an 80,000 Euro fine regarding AgustaWestland SpA and of a 300,000 Euro fine, alongside the confiscation of 7.5 million Euros, regarding AgustaWestland Ltd.
As is known on July 25 last the Italian Prosecutor has discontinued investigations against Finmeccanica acknowledging the non-involvement of the Company in the alleged wrongdoing and recognizing that since 2003, Finmeccanica has implemented an organizational, management and audit model, sufficient to prevent unlawful conduct, whilst ensuring that attention is given to compliance processes in order to uphold the adequate standards of ethics and appropriate conduct.
Finmeccanica is Italy’s leading manufacturer in the high technology sector and ranks among the top ten global players in Aerospace, Defence and Security. In 2013 Finmeccanica generated revenues of 16 billion Euro and obtained orders for 17.6 billion euro, with about 64,000 employees operating in 362 sites (of which 138 industrial facilities) in 22 countries worldwide.
The Italian Prosecutor has discontinued investigations relating to the 12 AW101 VVIP helicopter contract signed with the Indian ministry of Defense in 2010, Finmeccanica said in a press release on 29 July. “AgustaWestland together with the Prosecutor, have agreed to apply for a negligible fine, whilst confirming the appropriateness of their internal control systems and specifically their non-involvement in the misconduct alleged by the Prosecutor
The United Kingdom is reportedly considering launching its own investigation against AgustaWestland in connection with the Indian VVIP helicopter deal. According to Exaronews
Indias 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
A Milan court on Monday upheld an appeal lodged by Finmeccanica subsidiaries “seeking an emergency interim ruling” on the contract with the Indian MoD to supple 12 AW 101 VVIP helicopters. The Court confirmed the ruling issued last January 8, prohibiting, as a preventive measure, Deutsche Bank S
India's Defence Minister AK Antony has officially announced the scrapping of a VVIP chopper contract, with effect from 1st January, 2014 on grounds that the Anglo-Italian firm AgustaWestland has breached the provisions of the Pre-contract Integrity Pact. Antony stated in a letter to Rajya Sabha that subsequent to the termination of the contract, two Bank Guarantees amounting to $38 Million approximate have been encashed
India has picked Russian Helicopters to supply 12 VVIP choppers to be used to transport high profile leaders, the Rostec state corporation said in a press release. The Mi-17V-5 helicopter was chosen by the countrys Special Protection Group (of the 150 helicopters already delivered to India) for escorting the most important politicians in India during the election season
Rubbishing the previous governments claim that the Anglo-Italian helicopter maker AgustaWestland was blacklisted by the UPA government, the defence ministry said Thursday its the current government that had actually put on hold all procurement and acquisition cases in the pipeline of six companies involved in the VVIP chopper scam. “It is the present Government which through its order dated 03 July 2014, put on hold all procurement / acquisition cases in the pipeline of six companies figuring in the FIR registered by the CBI, namely: M/s Agusta Westland International Ltd
An inquiry by the Indian Air Force and Ministry of Defense (MoD) may have found no substance in the AgustaWestland bribery allegations prior to handing over the case to the Central Bureau of Investigation (CBI). Former Indian Air Force Chief, Air Chief Marshal SP Tyagi said in an interview to India Today magazine, "Since there were allegations, an inquiry was definitely required
India is likely to shut the AgustaWestland chopper bribery case due to lack of evidence after recovering INR 2,400 crore (US $377 million) deposited as bank guarantee in Italy and India. The Central Bureau of Investigation (CBI) has not made any headway in the scam investigation that involves former Indian Air Force (IAF) Chief SP Tyagi, his cousins and former top executives of Finmeccanica, the parent company of AgustaWestland
Finmeccanica 's AgustaWestland has signed a $505 million contract to supply 50 helicopters of various models to Beijing Automotive Industrial Corporation (BAIC) of China for parapublic missions, the company said in a statement Tuesday. The contract includes training, spare parts and technical support, excludes customer selected options and mission equipment
Fincantieri and Finmeccanica signed a memorandum of understanding for naval vessels sector during the launching ceremony of Fincantieris “Pietro Venuti” submarine, the companies said in a joint statement Thursday. The submarine is the third unit of the four U212A “Todaro” class twin units ordered by the Central Unit for Naval Armament NAVARM for the Italian Navy
Finmeccanica plans to restore ties with India after an Italian court acquitted former CEO Giuseppe Orsi and former CEO of AgustaWestland Bruno Spagnolini of alleged bribery charges. “The verdict will allow us to reopen dialogue with Indian institutions, which was interrupted as a result of the investigations linked to supply of 12 AW101 VVIP helicopters to the Indian MoD,” the CEO and General Manager of Finmeccanica Mauro Moretti said in a statement
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