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Tuesday, February 11, 2014

Defence ministry initiates blacklisting process against AgustaWestland

AW101The defence ministry has kicked off the process for blacklisting AgustaWestland, the UK-based subsidiary of Italian conglomerate Finmeccanica, after cancelling its contract for 12 VVIP helicopters on January 1.

"The (blacklisting) proposal is now being vetted by the ministry's legal team. We will then seek the opinion of both the law ministry and the CBI before taking the formal step," a top official told TOI.

The blacklisting of AgustWestland, however, will take several weeks more since the ministry will wait for the CBI report on the evidence regarding the alleged payment of kickbacks in the 556 million euros deal for the 12 AW-101 helicopters inked with AgustaWestland in February 2010. As per Italian investigators, 51 million euros were paid as kickbacks to swing the deal.

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