It is sad that the government paid the entire cost - Rs 3,600 crore - of the AgustaWestland helicopter deal in advance. It is simple business acumen that nobody pays the entire deal amount in advance. If it is paid then a performance guarantee from a bank is obtained for the entire amount. This reminds me of the urea scam during the P V Narasimha Rao regime when the entire cost of importing urea from Iraq, about Rs 360 crore, was paid in advance.
Sudhir K Bhave Mumbai
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