Italy's Finmeccanica has reached an agreement with prosecutors to settle legal proceedings over a high-profile helicopter contract between one of its units and India, adding this did not equal an acknowledgment of any wrongdoing.
Sources in India said the latest developments in Italy will not impact the CBI's investigation into allegations that bribes were paid by the manufacturers to land the deal, reportedly by ensuring that technical criteria were changed to ensure that Finmeccanica unit AgustaWestland qualified for the contract.
India cancelled the Rs. 3,600-crore order with AgustaWestland for 12 top-end helicopters in January, citing a breach of integrity relating to alleged corruption.
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