"The Committee has submitted its report. We will study it and then a decision will be taken," defence sources said refusing to elaborate on the findings by the Committee.
The nearly USD 2.5 billion deal is likely to be discussed in the upcoming meeting of the Defence Acquisition Council.
While the DAC is likely to be held on March 28, sources said it could also be held in April given the tight schedule of the Minister who is slated to visit Japan on March 30-31.
Accordingly, a special committee is looking into the details and procedures of the bid since only one consortium responded to the Request for Proposal (RFP).
"There is no problem. All issues are being looked into since we have a single vendor situation," sources said.
Under the current defence procurement policy, single- vendor situation is not entertained unless cleared by the DAC.
One of the options, besides selecting the consortium, is to go in for re-tendering in which the Indian companies become the main player rather than the foreign ones.
In May 2013, the Ministry had issued RFP to original equipment manufacturers including US firms Boeing and Lockheed Martin, European multinational Airbus Defence and Space, and Antonov of Ukraine among others.
They were required to tie-up with an Indian private company under which 40 aircraft will be produced here while 16 will be bought off-the-shelf.
However, only a single bidder - Airbus Defence and Space and Tata Advanced Systems Ltd (TASL) consortium - had bid for the proposal in October last year.
The Indian Air Force is keen to replace the fleet as it feels that the vintage Avro does not serve the purpose in the modern era.
IAF wants a replacement cargo aircraft with "back ram" and ability to land in "under-prepared ground" like in Daulat Beg Oldie airstrip in Ladakh.
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