India Debuts Integrity Clause With $43-mil Fine On IMI

Discussion in 'Defence & Strategic Issues' started by sesha_maruthi27, Apr 17, 2012.

  1. sesha_maruthi27

    sesha_maruthi27 Senior Member Senior Member

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    India Debuts Integrity Clause With $43-mil Fine On IMI

    India debuted the invocation of penalties on an integrity pact in a defence contract, by confiscating a $43-million (Rs 224-crore) bank guarantee from Israel Military Industries (IMI). The contract was for an ammunition factory in Nalanda, in Eastern India. IMI, incidentally, has decided to fight its blacklist in court.

    Livefist: India Debuts Integrity Clause With $43-mil Fine On IMI
     
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