By: Vivek Raghuvanshi
NEW DELHI — Even after the public release of its new blacklisting policy, India's Ministry of Defence (MoD) has not set a timeline for lifting the ban on those defense companies already blacklisted, with a top MoD official saying that in "some cases" the blacklisted status may continue.
The MoD on Monday released its new policy, "Guidelines of the Ministry of Defence for Penalties in Business Dealings with Entities," meant to ensure that scrutiny and transparency exist in future defense deals.
Under the new guidelines, current blacklisted companies that are under investigation, as well as former blacklisted businesses, will be examined and a new grading system of penalties will be determined, the MoD official noted.
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