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Finmeccanica banned from bidding for contracts

Aug 27 2014, 04:49 IST
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SummaryIn January, an order with Finmeccanica’s unit AgustaWestland for 12 top-end helicopters was cancelled after it was alleged that the group paid bribes to win the contract

India has banned Finmeccanica group of companies from bidding in contracts, a defence ministry source said on Tuesday, as it presses on with an investigation into a scrapped helicopter contract with the Italian firm.

Finmeccanica declined to comment. In January, India cancelled a 560-million-euro ($751 million) order with Finmeccanica’s unit AgustaWestland for 12 top-end helicopters after Italian prosecutors alleged the defence group had paid bribes to Indian officials to win the contract. “Where a tender process is yet to commence, a company under the Finmeccanica group of companies should not be given tender papers for purposes of bidding,” a defence ministry source said, setting out new rules for dealing with the firm.

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