India says will act against Finmeccanica if bribe charges proved

NEW DELHI Tue Feb 12, 2013 3:30pm IST

The headquarters of Italian defence and aerospace company Finmeccanica is seen in Rome May 3, 2012. REUTERS/Max Rossi/Files

The headquarters of Italian defence and aerospace company Finmeccanica is seen in Rome May 3, 2012.

Credit: Reuters/Max Rossi/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - India will take "suitable action" against Finmeccanica (SIFI.MI) if graft allegations are proven true, a defence ministry official said, after the company's head was arrested in Italy in an investigation of the sale of helicopters to India.

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.

"We will go to the root of the problem. If charges of bribery are proved, suitable action will be taken," said the official, who declined to be named because of the sensitivity of the matter.

The source added that under Indian defence procurement rules, companies involved in corruption can be punished with blacklisting and fines. (Reporting by Manoj Kumar and Nigam Prusty; Writing by Arup Roychoudhury)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Sino-Indian Ties

Reuters Showcase

Ebola Outbreak

Ebola Outbreak

Ebola could drain billions of dollars from African economies - World Bank.  Full Article 

Pakistani Floods

Pakistan Floods

Pakistani Islamists use floods to turn opinion against India  Full Article 

Investing in Stocks

Investing in Stocks

Interview - EPFO chief urges green light to buy stocks  Full Article 

Tracking Monsoon

Tracking Monsoon

Delayed retreat of monsoon rains to start this weekend  Full Article 

Al Qaeda Threat

Al Qaeda Threat

New al Qaeda wing in South Asia claims major attack.  Full Article 

Style Icon

Style Icon

Singer Taylor Swift leads People Magazine's best-dressed list.  Full Article 

Pakistan Protests

Pakistan Protests

Pakistan's PM threatens to clear protesters camped in capital  Full Article 

New iPad

New iPad

Apple to unveil new iPads, operating system on Oct. 21 - report.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage