India may have “terminated” its agreement with Italian helicopter major AgustaWestland in the VIP copters deal, but a divorce (read blacklisting) appears unlikely, at least till CBI investigations are completed and chargesheet filed.New Delhi fears several of its key defence modernisation projects would crash-land into a messy legal tangle in case it blacklists AgustaWestland, which would also mean a stop to all dealings with its parent firm Finmeccanica and its subsidiaries.
Among the projects that could get derailed in the event of a blacklisting is the Rs. 1 lakh crore critical ‘Rafale’ combat jet deal in which MBDA, a joint venture company in which Finmeccanica has invested, is the key weapons supplier.
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