Feb 13, 2013, 10.22 AM | Source: Reuters

Finmeccanica chopper deal to be scrapped if charges proven: Antony

DEFENCE-FINMECCANICA-AK-ANTONY:Finmeccanica chopper deal to be scrapped if charges proven: Antony

NEW DELHI (Reuters) - India will blacklist Finmeccanica Spa and cancel its deal to buy 12 helicopters from the Italian defence group if allegations of bribery are proven against the company, Defence Ministry A.K. Antony said on Wednesday.

Antony said the Central Bureau of Investigation (CBI) had been ordered to investigate the matter and if the allegations were proven, those involved would "pay for their lapses. Nobody will be spared."

Italian police arrested Finmeccanica's chief executive Giuseppe Orsi on Tuesday for alleged bribes paid to secure the sale of 12 AgustaWestland executive helicopters to the Indian Air Force, when he was head of the Finmeccanica helicopter unit.

(Reporting by Arup Roychoudhury, editing by Ross Colvin)


video of the day

Dont see mkt going anywhere now; like Bharat Forge: Dipen

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.