STOCK MARKET BSE NSE

Middleman: Pay-off part of consultancy fee

Published: 15th February 2013 08:39 AM  |   Last Updated: 15th February 2013 08:39 AM   |  A+A-

A middleman only identified as ‘ADR’ in the Italian prosecutor’s report on allegations of corruption by Italian-state-owned Finmeccaninca, the parent company of AgustaWestland, in the sale of 12 VVIP helicopters to the Indian Air Force admitted that a pay off of `350 crore was part of a ‘consultancy fee’.

It also said that a part of that amount reached Tyagi brothers (Julie, Dosca and Sandeep), though the exact figure is yet to be quantified. ADR was quoted as saying he paid cash in Euros worth about `72 lakh to the Tyagi brothers directly. The reports also suggested that the rest of the pay-off was routed through tax havens as software and engineering contracts.

India had issued tenders for the 12 helicopters in 2006 when Air Chief Marshal Tyagi was in office, but the contract negotiations (2008-09) and the signing of the deal (2010) were done when other chiefs were at the helm.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp