Share

News Summary: India puts helicopter deal on hold

|
News,Business

HELICOPTER HICCUPS: India's Defense Ministry has put a $750 million contract to purchase helicopters from Italian company Finmeccanica on hold amid allegations that bribes were paid to obtain it.

BRIBES IN THE AIR: India launched an investigation into the $750 million deal after the Italian defense and aerospace giant's chief executive was arrested in Milan on charges he paid bribes to get the contract.

KEEP IT CLEAN: The contract includes an integrity clause against bribery or the use of undue influence. An agreement can be scrapped and the firm blacklisted for bribing officials or making any kind of payoff.

View article comments Leave a comment