Finmeccanica Not Likely To Be Blacklisted In India, Still A Contender For Helicopter Contract

Finmeccanica does not run the risk of being blacklisted in India despite ongoing investigations pointing to money laundering and corruption, according to reports. And still remains a candidate in an Indian government bidding contest for helicopters.

Indian Foreign Minister Salman Kurshid said an investigation into alleged bribes paid by Finmeccanica unit AgustaWestland to win a government contract "is a specific case which will not have implications for Finmeccanica in terms of contracts and public works in our country." 

The Italian defense contractor in currently under investigation, in India and Italy,for allegedly paying bribes in the previous sale of helicopters to the Indian Air Force. Italian prosecutors have found "sufficient evidence" to begin trail while Indian investigators have frozen the assets of a former Indian Air Force chief and six others for allegedly receiving bribe money.

Earlier in March, Indian investigators searched the New Delhi offices of Finmeccanica and its subsidiary AgustaWestland as part of the probe over alleged bribes paid in the sale of 12 AW-101 helicopters. 

Earlier on Monday, Indian Defense Minister A. K. Antony said in a written statement that AgustaWestland remains actively involved in the bidding process for two contracts to supply 56 helicopters to India's navy - a deal worth about one billion dollars - as well as in a separate bid to supply 14 helicopters to the country's coast guard.