In a new twist in the scam-tainted VVIP chopper deal, Italian prosecutors have shelved proceedings against Finmeccanica, the parent company of AgustaWestland, in the case of alleged kickbacks in the 3,600 crore rupees deal. The Italian news agency Ansa reported, the prosecution found the company had nothing to do with the alleged corruption. It said that AgustaWestland has agreed to pay a fine, while reiterating it knew nothing about the alleged bribery. Prosecutors earlier this month had sought that the former CEO of Finmeccanica Giuseppe Orsi be sentenced for six years and former AgustaWestland CEO Bruno Spagnolini get five years in prison for allegedly paying the bribes.AgustaWestland's 3,600 crore rupees contract for supplying 12 VVIP choppers to the Indian Air Force has been scrapped by the Indian Government over charges of paying kickbacks to Indian agents. The government had cancelled AgustaWestland's contract on January 1 and began the process of encashing bank guarantees of the Anglo-Italian firm worth around 2,200 crore rupees deposited in banks of Italy and India. Orsi has denied any wrongdoing, telling a preliminary investigations judge that all his actions were motivated by the exclusive interest of Finmeccanica and all its subsidiaries. He also denied knowing the family of former IAF chief S P Tyagi. Prosecutors alleged that members of Tyagi's family received bribes paid by Finmeccanica to secure the contract for 12 VVIP choppers for the IAF.
News On AIR | July 30, 2014 9:35 AM
VVIP chopper case: Proceedings against parent co shelved