The Indian Ministry of Defense has blacklisted seven defense companies for alleged involvement in the deals tainted by corruption discovered with the arrest of the former Director General of Ordinance Factories, Sudipta Ghosh.
The Indian Ministry of Defense has blacklisted seven defense companies for alleged involvement in the deals tainted by corruption discovered with the arrest of the former Director General of Ordinance Factories, Sudipta Ghosh.
A cost escalation of 50 percent (INR 63,000 crore, in this case) or more, requires approval again from the Ministry of Finance, before the Defense Acquisitions Council (DAC) can proceed with it. With the cost of the tender for India safely ranging from INR 83,000 crore to 1,25,000 crore, the revision of the estimated expenditure on the MMRCA would require the approval of the finance ministry.