In a significant International Business Relations move the Indian Government has decided to lift the ban on transactions with the Italian company Leonardo (formerly Finmechanica), that makes AgustaWestland Choppers which was banned in connection with the Rs 3,600 VVIP helicopter fraud.
According to Government sources a news agency in India reported on Sunday that the ban on transactions with conditional companies had been lifted. According to the decision, the Central Investigation Bureau and the Executive Office will continue to investigate the company.
India Lifts Ban of Leonardo, with conditions to do business
“The company also cannot make monetary claims from the Government of India under a previously signed agreement and will have to start over after the ban is lifted,” sources commented.
India and the UPA government arrested people in 2013-14 for their role in a Rs 3,600 AgustaWestland transaction to supply India with 12 VVIP-powered AW-101 helicopters during the UPA government’s term. The contract has been suspended.
The decision was made by the Ministry of Defense in consultation with the Ministry of Justice and other agencies at the request of Italian companies, sources said.
The corruption case involved only AgustaWestland, but transactions with the entire Finmechanica Group were suspended. This included the black shark torpedo trade, which was then licensed by the Indian Navy.
