India imposes partial ban on fresh arms contracts with Finmeccanica but allows ongoing ones

August 26, 2014 17:54

India on Tuesday officially notified a partial ban on Italian conglomerate Finmeccanica, whose UK-based subsidiary AgustaWestland is enmeshed in the infamous VVIP helicopter kickbacks case, under which ongoing arms contracts will continue but fresh contracts will not be allowed till further orders, reports the TOI.

As per the defence ministry order on Tuesday, contracts underway with Finmeccanica will not be stopped. Neither will those procurement cases where the contracts have already been executed but spares and upgrades are still required.

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