Finmeccanica

  • Bribes a part of doing business globally: Berlusconi February 14, 2013

    London: Defending Finmeccanica SpA's jailed ex-chief executive officer Giuseppe Orsi, Italy's three-time former prime minister Silvio Berlusconi on Thursday said bribes are a necessary part of doing business globally. "Bribes are a phenomenon that exists and it's useless to deny the existence of these necessary situations," Berlusconi said in a...
  • Not involved in chopper deal: Former IAF chief's cousin February 14, 2013

    New Delhi: Julie Tyagi, the cousin of former Indian Air Force Chief Air Chief Marshal SP Tyagi, who has been accused of acting as a broker in the AgustaWestland helicopter deal has broken his silence for the first time after the allegations were levelled and claimed that he was not...
  • AgustaWestland deal explained in 20 points February 14, 2013

    The tainted chopper deal worth Rs 3,600 crore with Italy's AgustaWestland has raised a lot of questions. On Wednesday, sources said that the government had decided put the deal on hold even as Opposition demanded that the deal be scrapped. Below are 20 points to explain what is the AgustaWestland...
  • AgustaWestland in Britain struggles to get deals February 14, 2013

    London: Two days after the arrest of Finnmeccanica's CEO Giuseppe Orsi, Alessandro Pansa has been appointed as the new CEO. AgustaWestland in Britain is reported to be in the thick of the Rs 3,600 tainted chopper deal. According to the Italian inquiry report 30 million euros of the 50 million...
  • Finmeccanica appoints new CEO after India suspends deal February 14, 2013

    Rome/New Delhi: Italy's Finmeccanica promoted company insider Alessandro Pansa to run the defence group as CEO after the arrest of its head for alleged bribery led India to suspend a $750-million deal to buy helicopters. After a hastily convened board meeting in Rome, Finmeccanica said Pansa, the chief operating officer,...
  • Chopper deal: CBI approaches Indian embassy in Italy February 13, 2013

    New Delhi: The Central Bureau of Investigation on Wednesday evening approached the Indian embassy in Italy seeking documents related to the AgustaWestland VVIP chopper deal. The Indian government announced a CBI probe into the alleged scam after Italian investigations threw up the name of an ex-Indian Air Force chief, SP...
  • AgustaWestland chopper deal: The big questions February 13, 2013

    New Delhi: The tainted chopper deal worth Rs 3600 crore with Italy's AgustaWestland has raised a lot of questions. On Wednesday, sources said that the government had decided put the deal on hold even as Opposition demanded that the deal be scrapped. While the Defence Minister, AK Antony has announced a...
  • Tainted Italian chopper deal put on hold: Sources February 13, 2013

    New Delhi: The government has put on hold the AgustaWestland helicopter deal, sources said on Wednesday. The move came even as the government, under fire over allegations of kickbacks in the Rs 3,600 crore VVIP chopper deal, announced a CBI probe. "Nobody will be spared whatever may be the consequences,"...
  • Italian chopper deal: A chronology of events February 13, 2013

    New Delhi: Under fire over allegations of kickbacks in the Rs 3,600 crore VVIP chopper deal, the government on Wednesday asserted that nobody found guilty will be spared and if wrongdoings were found by the CBI, the contract can be scrapped. "Nobody will be spared whatever may be the consequences,"...
  • Italian chopper deal is another Bofors-like scam in making: BJP February 13, 2013

    New Delhi: Describing the Italian chopper deal as one having the "makings of a second Bofors scam", BJP on Wednesday asked the government as to how long it will "protect" bribe-takers and said it will raise the issue strongly during the Budget Session of Parliament. The main opposition also demanded...
  • CBI to begin probe in Italian chopper deal February 13, 2013

    New Delhi: Central Bureau of Investigation (CBI) will soon begin its probe into the alleged payment of Rs 362 crore bribe in India by an Italian defence firm AgustaWestland to clear a Rs 3,546 crore helicopter deal for ferrying VVIPs. The agency on Wednesday received a complaint from the Defence...
  • Nobody will be spared in Italian chopper deal: AK Antony February 13, 2013

    New Delhi: Under fire over allegations of kickbacks in the Rs 3,600 crore VVIP chopper deal, government today asserted that nobody found guilty will be spared and if wrongdoings were found by the CBI, the contract can be scrapped. "Nobody will be spared whatever may be the consequences," Defence Minister...
  • SP Tyagi denies involvement in Italian chopper deal February 13, 2013

    New Delhi: Former Air Chief Marshal Sashi P Tyagi, who is facing corruption allegations in the Rs 3,546 crore chopper deal with Italy's AgustaWestland, on Wednesday denied having any involvement in the case and said changes in the helicopter tender were made before his tenure started. He, however, said he...
  • AgustaWestland chopper deal: The day's highlights February 13, 2013

    New Delhi: 4:30 pm: A public interest litigation (PIL) has been filed in the Supreme Court in connection with the AgustaWestland helicopter deal, seeking probe by a Special Investigation Team (SIT) or Central Vigilance Commission (CVC). 3:15 pm: The BJP questioned the government's inaction over the Italian VVIP chopper deal of...
  • My family members know nothing about the chopper deal: Ex-IAF chief February 13, 2013

    New Delhi: A day after the Italian police arrested defence major Finmeccanica's CEO Giuseppe Orsi in an ongoing corruption inquiry, there are more details emerging. Reuters now reports that three cousins of former Indian Air Force Chief SP Tyagi allegedly helped twist rules in a helicopter tender won by AgustaWestland....
  • Ex-IAF chief in the dock over 'corrupt' chopper deal February 13, 2013

    New Delhi: A day after the Italian police arrested defence company Finmeccanica's CEO Giuseppe Orsi in an ongoing corruption inquiry, there are more details emerging. Reuters now reports that three cousins of former Indian Air Force Chief SP Tyagi allegedly helped twist rules in a helicopter tender won by AgustaWestland. However,...
  • India's chopper deal with Italian firm caught in the corruption net February 13, 2013

    New Delhi: In a big development in Italy that may have huge repercussions in India, the head of Italian defence group Finmeccanica, the owners of AgustaWestland, has been arrested over ongoing corruption investigations into his group. Finmeccanica Chief Executive and Chairman Giuseppe Orsi was arrested in connection with the deal wherein...
  • Defence Ministry refers AgustaWestland case to CBI February 13, 2013

    New Delhi: The Defence Ministry on Tuesday referred the Augusta Westland bribery allegations case to the Central Bureau of Investigation (CBI). The development came after the Italian police arrested the head of Italian government-controlled defence group Finmeccanica SpA on February 12. According to sources, the delivery of the remaining nine...
  • Finmeccanica's head arrested following corruption probe February 12, 2013

    Milan: Italian police arrested the head of Italian state-controlled defence group Finmeccanica SpA on February 12 in a corruption probe centred on the sale of helicopters to the Indian government, a judicial source said. Finmeccanica Chief Executive and Chairman Giuseppe Orsi was arrested for alleged bribes paid to secure the...
  • Defence body to decide on replacing ageing IAF choppers October 29, 2012

    New Delhi: The Defence Acquisition Council is set to meet on Monday where a decision is expected on replacing the military's ageing Cheetah and Chetak helicopters of the Indian Air Force. The meet comes amidst allegations of bribery which threaten to torpedo the VVIP helicopter deal. Italian defence major Finmeccanica stands...
  • IAF VVIP helicopter deal: Army Brigadier under scanner October 27, 2012

    New Delhi: A Brigadier of the Indian Army is under the scanner for allegedly demanding bribe of USD five million from an Italian company in a helicopter deal, with the Defence Ministry on Saturday seeking details from the government there and assuring "strong action" against the culprits. The allegations were levelled...
  • Sale of Augusta Westland helicopters to IAF under scanner October 25, 2012

    New Delhi: The sale of Augusta Westland helicopters to the Air Force is being probed for possible kickbacks. Italian authorities have reportedly recorded conversations between the India head of the helicopter manufacturer, Finmeccanica, and a middleman. The deal to purchase 12 VVIP helicopters for Rs 3500 crores is already under...
  • Probe into Italian firm's chopper deal with India April 25, 2012

    Rome: There is worry for India in the Agusta Westland chopper deal with Italy. According to Italian newspapers, the government has begun a probe into the 51 million Euro commission to a Switzerland-based consultant. The firm, belonging to Guido Ralph Haschke, facilitated the deal of selling 12 VVIP choppers to India...
  • Finmeccanica denies wrongdoing in India deal February 28, 2012

    Milan: Finmeccanica denied any wrongdoing over a 560 million euros helicopter deal after Indian authorities launched a corruption probe into the contract which sent shares in the Italian defence and aerospace group reeling. Shares in Finmeccanica slumped as much as 8.5 per cent to a six-day low. By 1327 GMT, the...