Category: Finance

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The Chopper deal that is Chopped off

India on Wednesday cancelled the Rs. 3,726-crore, scam-ridden VVIP chopper contract with UK’s AgustaWestland International Limited (AWIL) to buy Helicopter on the grounds of breach of pre-contract integrity pact (PCIP). The scrapping of the deal came 10 months after two top level executives of AgustaWestland, a unit of Italian defence contractor Finmeccanica had allegedly paid...