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India puts $750M Italian helicopter deal on hold
Topic Started: Feb 16 2013, 10:02 AM (400 Views)
keboiwa
Member
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NEW DELHI — India's Defense Ministry said Friday that it has put a $750 million contract to purchase helicopters from Italian company Finmeccanica on hold amid allegations that bribes were paid to obtain it.

The ministry said a formal notice has been sent to Finmeccanica's AgustaWestland helicopter division seeking cancellation of the contract. The company has a week to respond to the notice.

"With today's show cause notice, the operation of the contract has been put on hold. The company has been asked to reply to the notice in seven days," the ministry said in a statement.

India signed the contract with AgustaWestland for the purchase of 12 helicopters in February 2010. Three of the helicopters were delivered in December.

further read
http://www.utsandiego.com/news/2013/feb/15/india-puts-750m-italian-helicopter-deal-on-hold/
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