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Chopper clash


PUJA AWASTHI | New Delhi, March 22, 2014 16:24
Tags : defence ministry | Deutsche Bank | Italian court | scrapped helicopter | luxury helicopters | UN | Finmeccanica SpA | India |

The defence ministry will appeal an Italian court order which rejected its attempt to recover the $387 million paid for a scrapped helicopter deal with Finmeccanica SpA, an Italian defense contractor. The $753 million helicopter deal for 12 luxury helicopters, with AgustaWestland, a unit of Finmeccanica, was cancelled in January after allegations surfaced that the company used almost $67.6 million in bribes to win the deal. A court in Milan has prohibited Deutsche Bank from paying the amount back to India. Italy has meanwhile appealed to the UN to help its Italian marines.

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Issue Dated: Feb 5, 2017