Aerospace Diary

Neelam Mathews   Nov 20, 2013 Even as AgustaWestland is nominating former Supreme Court Judge Justice B.N SriKrishna in accordance with the rules of Arbitration under the Indian Arbitration and Conciliation Act 1996, India might invoke the 5% Integrity Pact Bond, AerospaceDiary learns.The surety of 5% is of the commercial bid value. While India has paid 45% of the value of 12 AW101s, in effect, it is 40% if the bond is taken into consideration. Referring to press reports related to the possible cancellation of the contract for the supply of 12 VVIP AW101 helicopters to India,  Finmeccanica  confirmed its subsidiary company, AgustaWestland, has received no such communication from India’s MOD.   AgustaWestland's representatives confirmed the meeting with India’s MOD remained scheduled for Wednesday 20th November. There has been no news from MoD on this at time of going to print. The DPP 2011-under which this deal is not covered- also includes a 5...

Neelam Mathews Aug 6, 2013 Lets give RK Tyagi, Chairman, HAL some credit. He has gone where no PSU has ever dared to venture by signing a  Memorandum of Understanding (MoU) with Transparency International India (TII) for adoption of Integrity Pact (IP).  One would like to hear of details on the implementation of the agreement- or is it just like any other MOU, yet to move forward? “Considering that HAL deals with a number of domestic and international  business partners for goods and services, the MoU will go a long way in  establishing higher standards in our operations”, says Tyagi. Would also like to know what HAL will do if standards are flouted? Will they be willing to get rid of vendors?  HAL has  so far signed an "Integrity Pact"  with 115 vendors (85 foreign and 30 Indian).   “Integrity Pact” is a tool developed to ensure that all activities and transactions between companies or Government departments and their supplier...