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Monday, October 29, 2012

VVIP helicopter shadow on billion dollar torpedo sale

Blackshark heavyweight torpedo |Italian defence company, Finmeccanica, is grappling with allegations that kickbacks were paid in group company AgustaWestland’s Euro 560 million (Rs 3,880 crore) sale to India of twelve AW101 VVIP helicopters, which are intended to fly Indian dignitaries in safety and comfort.

Given the MoD’s penchant for “blacklisting” arms vendors suspected of wrongdoing, the defence industry is watching developments with bated breath.

Any ban on Finmeccanica would mean that recent contracts won by group companies would be up for grabs again.

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