India gives AgustaWestland final notice: govt official
NEW DELHI (Reuters) - The defence ministry has issued a final "show cause" notice to AgustaWestland seeking to cancel a deal to buy a dozen helicopters and has given the company 21 days to reply, a government official said on Wednesday.
The official said the company, a subsidiary of Finmeccania (SIFI.MI), has been asked to explain why action should not be taken against it for violating the terms of the pre-contract integrity pact.
Earlier this month, AgustaWestland has invoked arbitration over the scandal-tainted deal.
In February, India froze payments on the 560 million euro contract after the deal became mired in allegations of bribery and the then-CEO of Finmeccanica was arrested by Italian police for allegedly paying bribes to secure the deal.
AgustaWestland denies the allegations.
A spokesman for Finmeccanica, which controls AgustaWestland, declined to comment.
(Reporting by Nigam Prusty; Writing by Sanjeev Miglani; editing by Malini Menon)
- Tweet this
- Share this
- Digg this
India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth largest coal reserves, a source familiar with the matter said. Full Article