Finmeccanica Unit Says India did not Cancel Helicopter Order
February 17, 2013 1:44 PM EST
Italian defence group Finmeccanica's subsidiary AugustaWestland denied on Saturday that India had cancelled a $750 million order for a dozen helicopters and said authorities had asked for "clarifications" within a week's time.
On Friday, the Indian defence ministry said it had begun the procedure to cancel the order.
"The Indian Ministry of Defence has not cancelled the contract but has given notice requesting information within seven days," AugustaWestland said in a statement.
"AgustaWestland is preparing its answer to timely meet the Indian authorities' request."
The British-based subsidiary said it was confident it would prove that all its past and present managers had conducted themselves in accordance with the law.
India has frozen payments for the AgustaWestland helicopters pending an inquiry after Italian police earlier this week arrested the former head of Finmeccanica, Giuseppe Orsi, for allegedly paying bribes to Indian politicians to win the contract.
Three of the helicopters have already been delivered.
India launched its own inquiry after Orsi's arrest and investigators are due to travel to Italy next week to find out more about the case.
Finnmeccanica could be blacklisted in India for five years if found guilty of bribery. Defence analysts IHS Jane's says Finmeccanica has been pursuing opportunities in India valued at more than $12 billion in 2013.
Most Popular Slideshows
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
- NFL Thursday Recap - Denver Broncos 35, San Diego Chargers 21: Peyton Manning Has 3 TDs In Easy Win [PHOTOS]
Join the Conversation
- Tesco Facing Crisis After Chairman Quits Citing Accounting Scandal In The Retail Giant
- Australian Federal Court Fines Reebok $350,000 & Orders Refunds For Shoe Endorsed By Miranda Kerr That Claims Unproven Health Benefits
- Sydney Software Firm Bigcommerce Teams Up With Alibaba To Beat Amazon
- Perth Call Centre Staff Bad In English And Not Philippine And Indian Counterparts, Telstra Boss Says
- Xiaomi Redmi 1S vs. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- ASUS Releases A Teaser Indicating The Arrival of New Zenfone and ZenWatch On October 28
- Boy Stoned To Death For Alleged Rape, Victim Receives Dowry From Militants
- Three Dual SIM Samsung Galaxy Note 4 Duos Variants Comes To China
- Russia is Creating Underwater Combat Robots to Protect its Arctic Territories
- Update HTC One M7 with LG G2 with Android 4.4.2 as Sprint OTA: Fixes and Installation
- Verizon Motorola Droid Turbo Leaked Live Images Surfaces, Scheduled To Get Unveiled On Oct 28