An Italian court on Monday acquitted Giuseppe Orsi, the former president of defence and aerospace giant Finmeccanica, of charges related to alleged bribes paid in exchange for a Rs 36 billion VVIP chopper deal to sell 12 AugustaWestland helicopters to India.
He had been sentenced to four-a-half-years years in jail for false accounting and corruption.
Bruno Spagnolini, former CEO of the company's helicopters subsidiary AgustaWestland, who had also been handed a four- year jail term on the same charges, was also cleared, Italian news agency ANSA reported.
India had scrapped the contract with Finmeccanica's British subsidiary AugustaWestland in January, 2014 for supplying 12 AW-101 VVIP choppers to the Indian Air Force over alleged breach of contractual obligations and charges of kickbacks paid by the firm for securing the deal.
India's defence ministry had ordered a CBI probe into the allegations of kickbacks to the tune of Rs 3.62 billion after the arrest of Orsi and Spagnolini by Italian investigators in connection with the case.
In February 2010, India had inked the deal to acquire 12 three-engine AW-101 helicopters from AgustaWestland for VVIP use.