By TOM KINGTON
and VIVEK RAGHUVANSHI
ROME AND NEW DELHI — An Italian court has rejected a bid by the Indian government to obtain €278 million (US $386 million) held as bank guarantees for Finmeccanica’s canceled sale of AW101 helicopters to India. India plans to appeal the ruling.
India canceled the contract in January after Italy put Finmeccanica’s former CEO on trial. Giuseppe Orsi is accused of taking part in a bid to offer bribes to Indian officials to win the contract for 12 AgustaWestland helicopters, worth €560 million. He was CEO of AgustaWestland at the time of the alleged wrongdoing, and has denied the charges.
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