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Wednesday, August 06, 2014

India stalls dealings with Finmeccanica over alleged corruption in VVIP helicopter deal

AW101 VVIP helicopterThe defence ministry has put on hold all dealings with Italian company Finmeccanica, which is facing a probe in connection with alleged corruption in a deal for VVIP helicopters, as it awaits legal opinion on blacklisting the group.

The move is expected to impact on contracts worth Rs 30,000 crore as the Italian company and its subsidiaries are in the fray for several deals.

The government has also issued an advisory asking departments not to process acquisition cases involving Finmeccanica till the Attorney General gives his opinion on whether the group should be blacklisted.

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