The Indian defense ministry could now be blacklisting companies because of their association with other companies that have been debarred from doing business due to allegations of malpractice.
In a statement issue today, the company said it was left ‘with no other option but to invoke arbitration through Counsel’. It said this came after it made several requests to the defense ministry for invoking bilateral discussions as provided in the contract.
The story about the arrest of Giuseppe Orsi, Chairman and CEO of Italian defense and aviation company, Finmeccanica, broke sometime on Tuesday afternoon, a few days less than a year when investigations first began into the company over allegations of corruption in Indian contracts.