Referring to press reports related to the possible cancellation of the contract for the supply of 12 VVIP AW101 helicopters to India, Finmeccanica confirms that its subsidiary company, AgustaWestland, has received no such communication from India’s MOD.
Finmeccanica is confident in India's reputation for fair and transparent proceedings and respect for the rule of law, for which India has an established reputation. AgustaWestland's representatives confirm the meeting with India’s MOD remains scheduled for Wednesday 20th November.
AgustaWestland denies all allegations of violation of the pre-contract integrity pact and the contract. AgustaWestland will deliver the formal written response to the exceptions raised by India’s MOD.
In accordance with the rules of arbitration under the Indian Arbitration and Conciliation Act 1996, AgustaWestland is nominating former Supreme Court Judge and former Chief Justice High Court Kerala, Justice Mr. B.N. Srikrishna; a well-known jurist of unimpeachable experience and reputation.
AgustaWestland (AW) which is facing bribery charges in the sale of 12 VVIP AW101 helicopters to the Indian Air Force has contested a report of Indias Comptroller and Auditor General (CAG) “in the interest of accuracy of balance”. In a communication to the CAG last week, AW has said that it would have been able to demonstrate flight operations at a height of 6,000 meters rather than 4,500 meters as was mandated in the 2006 RFP
The Indian Central Bureau of Investigation (CBI) not arresting former IAF chief SP Tyagi and his cousins may help the defense argument in the trial against previous Finmeccanica executives Giuseppe Orsi and Bruno Spagnolini in an Italian court. The CBI has been investigating the alleged payment of bribe in the AgustaWestland VVIP helicopter purchase case
AgustaWestland, which is accused of paying bribes to secure a contract to sell 12 VVIP helicopters to the Indian Air Force,has put three helicopters in the hanger as the Indian government has not responded to its request for negotiations on further deliveries under the contract.After news of the bribery became known, the Indian MoD ordered a criminal investigation and pur the contract on hold, meaning suspending both payments and accepting further deliveries
Facing the threat of cancellation of its Rs 3,600 crore deal for VVIP choppers, AgustaWestland has asked the Indian Government to release its payments, claiming the breach of contract. In a letter written to the ministries of Defence, Finance and External Affairs, the Anglo-Italian firm has said that there were certain 'contractual difficulties' with the Defence Ministry and asked for its payments to be released
AgustaWestland has sought release of payment from the Indian MoD on grounds that it is performing its part of the contract in the supply of 12 VVIP helicopters to India. In separate communications to the Indian MoD and the External Affairs ministry, the company has invoked the performance clause in the contract
AgustaWestland which is being accused of changing the specs of its AW109 helicopter to be included in a contract to supply VVIP helicopters in India is being similarly charged in Malta. Its competitor, Eurocopter has charged that AgustaWestland with corruption in a Euro58 million contract for the procurement of up to three helicopters for the Maltese Armed Forces
The Nigerian Air Force will soon take delivery of two AgustaWestland AW101 helicopters originally intended for the Indian Air Force and will be used for VIP transport duties. One of the AW101s was seen at AgustaWestlands facility in Yeovil, Somerset, in the United Kingdom painted in Nigerian Air Force (NAF) VIP colours
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
The Indian Defence Ministrys decision to ban 27 domestic and international firms from attending Defexpo 2014 has caused show organizers with the losses over $480,000. Due to the cancellation of bookings of Finmeccanica and its subsidiaries AgustaWestland, Selex, Oto Malera, Aleania Aermachhi and WASS in view of a pending CBI probe against them, has resulted in the loss, according to the Economic Times
Indias decision to cut ties with Finmeccanica, parent company of AgustaWestland looks like it will suck in other European companies as well. The Indian MoD is reported to be looking at linkages between Finmeccanica and other European defense companies which may have a bearing on current procurements in India
India has barred Finmeccanica and its five subsidiaries from participating at the upcoming defense exhibition DEFEXPO 2014 in New Delhi next week. The fallout from the VVIP helicopter deal will keep out subsidiaries AgustaWestland, Selex, Alenia Armacchi, Oto Malera and WASS, all of which are vying for contracts worth an estimated USD6 billion, from participating in the show
AgustaWestland has won a contract for 16 AW101 helicopters estimated €1.15 billion, to meet the Norwegian All Weather SAR Helicopter (NAWSARH) requirement, with an option for six further aircraft
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