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India to appeal in Italian court in attempt to recover guarantees in scrapped helicopter deal

NEW DELHI - India says it will appeal a decision by an Italian court to reject New Delhi's request to recover $387 million in bank guarantees in a scrapped helicopter deal. India cancelled the contract with Italian-owned Finmeccanica's helicopter arm AgustaWestland in January amid allegations that the company paid bribes to win the $750 million deal for 12 luxury helicopters to ferry VIPs. "The government of India will be filing an appeal against the order of the Italian court in Milan," defence ministry spokesman Sitanshu Kar said in a statement Tuesday.

Italian judge rejects Indian bid to recover helicopter deal guarantees

MILAN (Reuters) - An Italian judge has rejected a request by India to recover more than 278 million euros ($387 million) in bank guarantees backing a scrapped helicopter deal with Finmeccanica, the Italian defense group said on Monday. India cancelled the 560 million-euro order with Finmeccanica unit AgustaWestland for 12 top-end helicopters in January, citing a breach of integrity relating to alleged corruption.

N. Ireland's richest man killed in helicopter crash

An entrepreneur and politician who was Northern Ireland's richest man was among four people killed when a helicopter crashed in thick fog in eastern England late on Thursday. Lord Ballyedmond, a Conservative peer in the House of Lords, was in the twin-engined AgustaWestland AW139 when it came down near the town of Beccles in Norfolk. The 70-year-old, known as Edward Haughey until he was made a peer in 2004, was founder and chairman of Norbrook, a veterinary pharmaceuticals company.

India scraps AgustaWestland helicopter deal, agrees to arbitration

By Nigam Prusty and Krishna N Das NEW DELHI (Reuters) - India cancelled its $770 million helicopter deal with Italian defense group Finmeccanica's AgustaWestland unit on Wednesday over what it termed a breach of integrity, but agreed to take part in an arbitration process. India froze payments for the 12 AW101 helicopters after Finmeccanica's then chief executive was arrested in February for allegedly paying bribes to secure the deal, embarrassing the New Delhi government before parliamentary elections due by May 2014.

India scraps AgustaWestland helicopter deal, agrees to arbitration

By Nigam Prusty and Krishna N Das NEW DELHI (Reuters) - India cancelled its $770 million helicopter deal with Italian defense group Finmeccanica's AgustaWestland unit on Wednesday over what it termed a breach of integrity, but agreed to take part in an arbitration process. India froze payments for the 12 AW101 helicopters after Finmeccanica's then chief executive was arrested in February for allegedly paying bribes to secure the deal, embarrassing the New Delhi government before parliamentary elections due by May 2014.

India agrees to arbitration on scrapped AgustaWestland helicopter deal

By Nigam Prusty and Krishna N Das NEW DELHI (Reuters) - India agreed to take its $770 million helicopter deal with Italian defense group Finmeccanica's <SIFI.MI> AgustaWestland unit to arbitration while formally cancelling the agreement on Wednesday over what it termed a breach of integrity. India's Defense Ministry appointed a former judge as its arbitrator on Wednesday but said in a statement it believed "integrity-related issues are not subject to arbitration".

India scraps $670M helicopter deal with Italian giant Finmeccanica after bribery allegations

NEW DELHI - India has cancelled a 560 million euro ($670 million) contract for 12 helicopters after Italian defence giant Finmeccanica was accused of bribing Indian contacts to secure the deal. A defence ministry official said the decision was made Wednesday during a meeting between Defence Minister A.K.Antony and Prime Minister Manmohan Singh. He spoke on condition of anonymity as he was not authorized to talk to reporters.

AgustaWestland fights to keep graft-tainted Indian chopper deal

British helicopter-maker AgustaWestland sought arbitration Wednesday in a bid to salvage a $753-million chopper deal that was suspended over corruption allegations. India suspended the contract to supply 12 luxury VIP helicopters earlier this year after Italian investigators began looking into accusations that AgustaWestland paid bribes to win the deal. The firm said in a statement it had sought arbitration by a "well-known" Indian judge of "unimpeachable experience and reputation" to settle the disagreement.

India set to cancel scandal-hit AgustaWestland chopper deal: sources

By Anurag Kotoky and Nigam Prusty NEW DELHI (Reuters) - India has decided to cancel a scandal-tainted helicopter deal with Anglo-Italian firm AgustaWestland, three sources said, drawing a line under a dispute that has embarrassed a government heading into elections due next year. The decision could re-open the contract to rivals, including United Technologies Corp's <UTX.N> Sikorsky Aircraft, EADS' <EAD.PA> Eurocopter and Lockheed Martin <LMT.N>.

Exclusive: AgustaWestland invokes arbitration over India chopper deal

By Anurag Kotoky NEW DELHI (Reuters) - AgustaWestland has invoked arbitration over a scandal-tainted deal to sell helicopters to the Indian government, according to a statement on Friday from the unit of Italy's Finmeccanica <SIFI.MI>. In February, India froze payments on the 560 million euro ($762.91 million) contract to supply 12 helicopters after the deal became mired in allegations of bribery and the then-CEO of Finmeccanica was arrested by Italian police for allegedly paying bribes to secure the deal.
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