Business Standard: New Delhi: Monday, March 03, 2014.
India has to
recover bank guarantee worth Rs 2,134 crore deposited in Italian banks after
scrapping the AgustaWestland VVIP chopper deal in which allegations of
corruption against then Indian Air Force (IAF) chief S P Tyagi and others are
being probed by the Central Bureau Of Investigation (CBI). In an RTI reply, IAF
said euro 83,439,303 (15 per cent of the contract value) and euro 166,878,607
as (30 per cent of contract value) totalling to about Rs 2,134 crore (according
to the current exchange rates) were deposited as bank guarantee by the company
in Deutsche Bank, Milan, Italy.
The reply
said Rs 3 crore was deposited in the State Bank of India, Parliament Street
Branch as Integrity Pact Bank Guarantee. The advance payment made to
AgustaWestland comes to about Rs 1,493 crore (according to the current exchange
rates) of the total Rs 3,600-crore deal. The defence ministry has received the
money which was deposited in SBI here in the form of a guarantee.
.JPG)
.JPG)
