No defence firm blacklisted in last three years: govt

Image
Press Trust of India New Delhi
Last Updated : Dec 19 2018 | 9:40 PM IST

The government Wednesday said no defence firm or entity has been blacklisted in the last three years.

Replying to a question in Lok Sabha, Minister of State for Defence Subhash Bhamre, however, said business dealings with a company called M/s Offset India Solutions (P) Ltd and its group companies and functionaries have been suspended with effect from January 5, 2018.

Bhamre said suspension of business dealings with Leonardo S.p.A, formerly known as Finmeccanica Group, has been extended with effect from May 1, 2017.

The UPA government had initiated the punitive measures against the company in the wake of the Rs 3,600 crore AgustaWestland VVIP chopper deal scam.

Asked whether the government has taken any decision to do away with blacklisting of companies engaged in supply of defence equipment and materials on petty issues, he replied in the negative.

Bhamre also referred to guidelines issued by the government for penalties in business dealings with defence entities, which came into effect from November 2016, and subsequent decision to review existing cases of suspension, ban and blacklisting of vendors.

The minister said restrictions in dealings with M/s IAI and M/s Rafael have been removed with effect from April 4, 2018.

He also said restrictions on business dealings with M/s Denel group of South Africa have been removed with effect from September 5, 2018.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 19 2018 | 9:40 PM IST

Next Story