India to pursue all options for AgustaWestland chopper encashment(Update/Agusta)

New Delhi, Mar. 18: The Indian Government on Tuesday said that it will file an appeal against an Italian court’s order for encashment of bank guarantees worth over Rs.2360 crores given to it by AgustaWestland as part of penalties in a chopper purchase deal.

A Defence Ministry statement issued here today said: “The Government of India will be filing an appeal against the order of the Italian Court in Milan in the case relating to encashment of bank guarantees in the contract for the procurement of 12 VVIP/VIP helicopters from AgustaWestland International Ltd. (AWIL).

“Simultaneously, the Government will vigorously pursue all options for encashment of the bank guarantees,” the statement added.

Earlier, an Italian court had rejected India’s plea to recover bank guarantees worth over 2360 crore rupees. The move comes after India had cancelled the 3600 crore rupees deal with AugustaWestland for the supply of 12 AW101 helicopters earlier this year. (ANI)