February 12, 2013 by Amit Chaturvedi - ndtv.com (AFP)
Rome: The chief executive of Italian defence giant Finmeccanica has been arrested for corruption and embezzlement over a 4,000-crore helicopter deal with India, according to reports in the Italian media. However, the Indian Defence Ministry says there's no confirmation that the arrest is linked to the deal to sell 12 helicopters to the Indian government.
Finmeccanica CEO Giuseppe Orsi had been under investigation for months and had denied any wrongdoing in the deal for the sale of a dozen AgustaWestland helicopters to India in 2010.
Officials in the Defence Ministry in India say that their own investigation of the helicopter deal has not exposed any financial malpractices, and that the deal for the helicopters for use by VIPs, including the Prime Minister, will not be impacted by the arrest in Italy.
The state-controlled Finmeccanica group has been investigated in Italy for three years for allegedly paying bribes in different countries and at home. The company has refuted the charges.
In a statement in February, Finmeccanica said, "AgustaWestland is not involved in any irregularity concerning the supply of helicopters in India. No notice related to the investigations has been served."
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