 "Preparing to clarify points raised by India: AgustaWestland")
The Defence Ministry had yesterday issued a show cause notice to AgustWestland of the UK asking why the contract should not be scrapped in view of the recent corruption allegations in the case.
"AgustaWestland clarifies that Indian authorities have not cancelled the contract but have requested some clarifications within seven days. AgustaWestland is preparing its answer to timely meet the Indian authorities' request," the firm said in a release.
India had yesterday stated that the show cause notice was initiation of process to cancel the Rs 3,600 crore deal with India in which allegedly kickbacks of Rs 362 crore were paid to swing the deal in favour of AgustaWestland.
Talking about the investigations into the case in Italy, the firm said, "AgustaWestland is confident that the full compliance with the law of its conduct and the conduct of its past and present senior executives and managers will be demonstrated soon.
"For 2011, AgustaWestland is a company with approximately 4 billion Euro annual revenues and with an order book of approximately 12 billion Euro including future deliveries of more than 600 helicopters and 300 helicopter kits.
It said the "success is based on the expertise, skills and dedication of company's workforce as well as on the breadth of its research capability, manufacturing base, supply chain and, of course, the quality of its products".